Alec Amar Sells 27,500 Shares of Digi Power X (NASDAQ:DGXX) Stock

Key Points

• Alec Amar sold 27,500 shares of Digi Power X on May 1 at an average price of $3.56 under a pre‑arranged Rule 10b5‑1 plan, reducing his stake by about 1.97% to 1,368,949 shares.
• Shares traded up 29.4% to $5.11 on massive volume (114.6M shares vs. a 2.34M average), giving the company a market cap of roughly $234 million.
• The company reported Q1 EPS of -$0.31 (miss) vs. -$0.14 expected and negative margins/ROE, while analysts are mixed (consensus "Hold", average target $4) as several hedge funds have recently built or increased positions.

Digi Power X Inc. (NASDAQ:DGXX - Get Free Report) President Alec Amar sold 27,500 shares of the business's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $3.56, for a total value of $97,900.00. Following the completion of the sale, the president owned 1,368,949 shares of the company's stock, valued at approximately $4,873,458.44. This represents a 1.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alec Amar also recently made the following trade(s):

• On Wednesday, April 8th, Alec Amar sold 25,700 shares of Digi Power X stock. The stock was sold at an average price of $2.26, for a total value of $58,082.00.
• On Wednesday, April 1st, Alec Amar sold 1,800 shares of Digi Power X stock. The stock was sold at an average price of $2.25, for a total value of $4,050.00.

Digi Power X Trading Up 29.4%

Shares of Digi Power X stock traded up $1.16 during trading hours on Tuesday, hitting $5.11. 114,632,547 shares of the company were exchanged, compared to its average volume of 2,340,979. Digi Power X Inc. has a 1 year low of $1.16 and a 1 year high of $6.78. The business has a 50-day moving average of $2.72 and a 200-day moving average of $3.17. The stock has a market capitalization of $234.19 million, a price-to-earnings ratio of -8.11 and a beta of 5.85.

Digi Power X (NASDAQ:DGXX - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.17). Digi Power X had a negative return on equity of 54.82% and a negative net margin of 82.94%.The company had revenue of $8.65 million for the quarter, compared to analysts' expectations of $6.80 million. As a group, research analysts anticipate that Digi Power X Inc. will post -0.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DGXX. Vennlight Capital Management LP purchased a new position in shares of Digi Power X in the fourth quarter valued at $4,471,000. Vident Advisory LLC purchased a new position in shares of Digi Power X in the third quarter valued at $2,663,000. Alyeska Investment Group L.P. purchased a new position in shares of Digi Power X in the third quarter valued at $1,585,000. Geode Capital Management LLC increased its position in shares of Digi Power X by 1,771.7% in the fourth quarter. Geode Capital Management LLC now owns 592,399 shares of the company's stock valued at $1,511,000 after buying an additional 560,749 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Digi Power X by 157.8% in the fourth quarter. Renaissance Technologies LLC now owns 883,501 shares of the company's stock valued at $2,253,000 after buying an additional 540,801 shares in the last quarter. Hedge funds and other institutional investors own 1.93% of the company's stock.

Analyst Ratings Changes

DGXX has been the subject of several research analyst reports. Wall Street Zen cut Digi Power X from a "hold" rating to a "sell" rating in a research report on Saturday, March 21st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Digi Power X in a research report on Monday, April 20th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $4.00.

Digi Power X Company Profile

Digihost Technology Inc operates as a blockchain technology company that focuses on digital currency mining in the United States. It mines for cryptocurrency. The company was incorporated in 2017 and is headquartered in Toronto, Canada.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.