Insider Selling: Stronghold Digital Mining, Inc. (NASDAQ:SDIG) CEO Sells $54,673.85 in Stock

Stronghold Digital Mining, Inc. (NASDAQ:SDIG) CEO Gregory A. Beard sold 14,201 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $3.85, for a total transaction of $54,673.85. Following the sale, the chief executive officer now owns 446,533 shares in the company, valued at $1,719,152.05. This trade represents a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Stronghold Digital Mining Stock Down 2.7 %

NASDAQ:SDIG opened at $3.92 on Friday. The stock has a 50-day simple moving average of $4.91 and a 200 day simple moving average of $4.35. Stronghold Digital Mining, Inc. has a 52-week low of $1.65 and a 52-week high of $10.73. The company has a market cap of $67.59 million, a PE ratio of -1.06 and a beta of 2.92. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.21 and a current ratio of 0.27.

Institutional Trading of Stronghold Digital Mining

Hedge funds and other institutional investors have recently made changes to their positions in the business. XTX Topco Ltd acquired a new position in Stronghold Digital Mining during the second quarter worth $130,000. State Street Corp boosted its stake in shares of Stronghold Digital Mining by 122.3% during the 3rd quarter. State Street Corp now owns 57,630 shares of the company’s stock worth $291,000 after buying an additional 31,700 shares during the last quarter. Thomist Capital Management LP bought a new position in shares of Stronghold Digital Mining in the 2nd quarter valued at about $485,000. Geode Capital Management LLC increased its position in shares of Stronghold Digital Mining by 83.0% in the third quarter. Geode Capital Management LLC now owns 168,124 shares of the company’s stock valued at $849,000 after acquiring an additional 76,260 shares during the last quarter. Finally, K2 Principal Fund L.P. bought a new stake in Stronghold Digital Mining during the third quarter worth about $882,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, B. Riley upgraded shares of Stronghold Digital Mining from a “hold” rating to a “strong-buy” rating in a report on Friday, November 15th.

Stronghold Digital Mining Company Profile

Stronghold Digital Mining, Inc, a crypto asset mining company, focuses on Bitcoin mining in the United States. It operates in two segments, Energy Operations and Cryptocurrency Operations. It also owns and operates coal refuse power generation facilities; and provides environmental remediation and reclamation services.