Digihost Technology (NASDAQ:DGHI) Trading Down 9.3% – Here’s Why

Digihost Technology Inc. (NASDAQ:DGHI)’s share price was down 9.3% during mid-day trading on Thursday . The company traded as low as $1.35 and last traded at $1.36. Approximately 424,664 shares were traded during mid-day trading, a decline of 43% from the average daily volume of 738,995 shares. The stock had previously closed at $1.50.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “buy” rating and set a $2.50 target price on shares of Digihost Technology in a research report on Monday, December 16th.

Digihost Technology Stock Performance

The company has a market capitalization of $45.49 million, a P/E ratio of -2.51 and a beta of 5.54. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.01. The company’s fifty day moving average is $2.21 and its 200 day moving average is $1.72.

Hedge Funds Weigh In On Digihost Technology

Several hedge funds have recently made changes to their positions in the stock. Private Advisor Group LLC purchased a new stake in Digihost Technology during the 4th quarter worth about $30,000. Renaissance Technologies LLC lifted its holdings in shares of Digihost Technology by 140.8% in the fourth quarter. Renaissance Technologies LLC now owns 31,300 shares of the company’s stock worth $47,000 after buying an additional 18,300 shares in the last quarter. Citadel Advisors LLC boosted its position in shares of Digihost Technology by 12.0% in the fourth quarter. Citadel Advisors LLC now owns 79,150 shares of the company’s stock valued at $119,000 after acquiring an additional 8,499 shares during the period. Jane Street Group LLC increased its holdings in Digihost Technology by 108.5% during the 3rd quarter. Jane Street Group LLC now owns 87,211 shares of the company’s stock worth $101,000 after acquiring an additional 45,388 shares during the period. Finally, Vident Advisory LLC lifted its stake in Digihost Technology by 50.6% in the 4th quarter. Vident Advisory LLC now owns 1,200,356 shares of the company’s stock worth $1,801,000 after purchasing an additional 403,471 shares in the last quarter. 1.93% of the stock is currently owned by hedge funds and other institutional investors.

About Digihost Technology

Digihost Technology Inc operates as a blockchain technology company in the United States and Canada. The company operates through Cryptocurrency Mining, Sales of Energy, and Colocation Services segments. It also mines for cryptocurrency; and supplies energy from power plants. Digihost Technology Inc was incorporated in 2017 and is headquartered in Houston, Texas.