Short Interest in Stronghold Digital Mining, Inc. (NASDAQ:SDIG) Drops By 27.2%

Stronghold Digital Mining, Inc. (NASDAQ:SDIG) saw a large decrease in short interest during the month of December. As of December 15th, there was short interest totalling 474,100 shares, a decrease of 27.2% from the November 30th total of 651,300 shares. Currently, 3.7% of the company’s stock are short sold. Based on an average daily volume of 552,900 shares, the short-interest ratio is presently 0.9 days.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, CEO Gregory A. Beard sold 14,201 shares of Stronghold Digital Mining stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $3.85, for a total value of $54,673.85. Following the completion of the sale, the chief executive officer now owns 446,533 shares of the company’s stock, valued at approximately $1,719,152.05. The trade was a 3.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 29,816 shares of company stock valued at $118,303 in the last three months. Insiders own 21.14% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC increased its position in Stronghold Digital Mining by 83.0% during the third quarter. Geode Capital Management LLC now owns 168,124 shares of the company’s stock worth $849,000 after acquiring an additional 76,260 shares during the period. K2 Principal Fund L.P. acquired a new stake in Stronghold Digital Mining in the 3rd quarter worth $882,000. Anson Funds Management LP bought a new position in shares of Stronghold Digital Mining during the 3rd quarter worth about $2,466,000. State Street Corp raised its position in shares of Stronghold Digital Mining by 122.3% during the third quarter. State Street Corp now owns 57,630 shares of the company’s stock valued at $291,000 after buying an additional 31,700 shares during the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of Stronghold Digital Mining in the third quarter valued at about $1,022,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Stronghold Digital Mining Stock Performance

Shares of Stronghold Digital Mining stock traded down $0.11 on Friday, reaching $3.92. The stock had a trading volume of 379,938 shares, compared to its average volume of 898,226. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.21 and a current ratio of 0.27. The business’s 50-day moving average price is $4.91 and its two-hundred day moving average price is $4.35. The stock has a market cap of $67.59 million, a P/E ratio of -1.06 and a beta of 2.92. Stronghold Digital Mining has a fifty-two week low of $1.65 and a fifty-two week high of $10.73.

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.