Digi Power X (NASDAQ:DGXX) Stock Dropped to Sell by Wall Street Zen

Key Points

• Wall Street Zen downgraded Digi Power X from “Hold” to “Sell,” while other analysts remain divided; MarketBeat reports a consensus “Hold” rating and a $5.00 price target.
• Digi Power X shares opened at $4.59, with a market capitalization of approximately $465.4 million and a highly volatile beta of 6.25. The company reported a quarterly loss of $0.17 per share, $6.63 million in revenue, and continued negative profitability metrics.
• Company insiders recently bought shares, including acquisitions by the president and CEO, while institutional investors own a relatively small 1.93% stake.

Digi Power X (NASDAQ:DGXX - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

A number of other equities analysts have also commented on DGXX. Alliance Global Partners reaffirmed a "buy" rating on shares of Digi Power X in a research note on Friday, August 14th. Weiss Ratings reissued a "sell (d-)" rating on shares of Digi Power X in a research report on Friday, July 17th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Digi Power X has a consensus rating of "Hold" and a consensus price target of $5.00.

Digi Power X Stock Up 1.3%

Shares of NASDAQ:DGXX opened at $4.59 on Friday. The firm has a market cap of $465.43 million, a P/E ratio of -8.50 and a beta of 6.25. Digi Power X has a 12-month low of $1.86 and a 12-month high of $9.20. The business has a fifty day simple moving average of $3.90 and a 200 day simple moving average of $4.47.

Digi Power X (NASDAQ:DGXX - Get Free Report) last announced its earnings results on Friday, August 14th. The company reported ($0.17) EPS for the quarter. Digi Power X had a negative return on equity of 26.75% and a negative net margin of 116.79%.The company had revenue of $6.63 million for the quarter.

Insiders Place Their Bets

In other Digi Power X news, President Alec Amar acquired 10,000 shares of the stock in a transaction dated Thursday, August 20th. The stock was purchased at an average cost of $3.86 per share, with a total value of $38,600.00. Following the transaction, the president owned 1,378,949 shares in the company, valued at approximately $5,322,743.14. The trade was a 0.73% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Michel Amar acquired 20,000 shares of the stock in a transaction dated Wednesday, August 19th. The stock was acquired at an average cost of $3.60 per share, with a total value of $72,000.00. Following the completion of the transaction, the chief executive officer owned 1,699,885 shares in the company, valued at approximately $6,119,586. This represents a 1.19% increase in their position. The SEC filing for this purchase provides additional information.

Institutional Investors Weigh In On Digi Power X

Several large investors have recently added to or reduced their stakes in the business. Engineers Gate Manager LP boosted its holdings in shares of Digi Power X by 91.4% during the 2nd quarter. Engineers Gate Manager LP now owns 98,135 shares of the company's stock worth $535,000 after buying an additional 46,851 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Digi Power X during the 2nd quarter worth approximately $127,000. Members Advisory Group LLC increased its stake in shares of Digi Power X by 265.5% in the 2nd quarter. Members Advisory Group LLC now owns 255,468 shares of the company's stock valued at $1,392,000 after acquiring an additional 185,581 shares in the last quarter. Wedbush Securities Inc. bought a new stake in shares of Digi Power X in the 2nd quarter valued at $113,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of Digi Power X during the 2nd quarter valued at $79,000. Institutional investors and hedge funds own 1.93% of the company's stock.

About Digi Power X

Digi Power X, Inc is an energy infrastructure and high-performance computing company focused on developing, owning and operating data centers. Its activities include digital asset mining, particularly Bitcoin mining, as well as infrastructure designed to support other compute-intensive applications, including artificial intelligence and related high-performance computing services.

The company emphasizes the use of power-generation and data-center infrastructure to support its operations, with a focus on energy efficiency and access to lower-cost power.

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