Digi Power X (NASDAQ:DGXX) CEO Michel Amar Buys 20,000 Shares of Stock

Key Points

• CEO Michel Amar purchased 20,000 Digi Power X shares at an average price of $3.60, investing $72,000 and increasing his stake by 1.19% to 1,699,885 shares.
• DGXX shares rose to $3.81, but remain below their 50-day and 200-day moving averages. The company reported a quarterly loss of $0.17 per share, $6.63 million in revenue, and negative profitability metrics.
• Analyst sentiment is mixed, with two Buy ratings and one Sell rating producing a consensus Hold rating and an average price target of $4.00; institutional ownership stands at 1.93%.

Digi Power X Inc. (NASDAQ:DGXX - Get Free Report) CEO Michel Amar bought 20,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief executive officer owned 1,699,885 shares of the company's stock, valued at $6,119,586. This represents a 1.19% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Digi Power X Price Performance

DGXX stock traded up $0.23 during midday trading on Thursday, hitting $3.81. The company's stock had a trading volume of 1,642,810 shares, compared to its average volume of 5,998,121. The company's fifty day moving average price is $4.69 and its 200 day moving average price is $4.22. Digi Power X Inc. has a twelve month low of $1.86 and a twelve month high of $9.20. The stock has a market capitalization of $344.50 million, a P/E ratio of -7.06 and a beta of 6.28.

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

Institutional Trading of Digi Power X

Several institutional investors and hedge funds have recently bought and sold shares of DGXX. Wedbush Securities Inc. acquired a new stake in shares of Digi Power X in the second quarter valued at approximately $113,000. FNY Investment Advisers LLC acquired a new position in shares of Digi Power X during the 2nd quarter worth approximately $79,000. Dynamic Advisor Solutions LLC bought a new stake in Digi Power X in the 2nd quarter valued at $66,000. Bank of America Corp DE lifted its holdings in Digi Power X by 5,228.9% during the 1st quarter. Bank of America Corp DE now owns 43,484 shares of the company's stock valued at $88,000 after purchasing an additional 42,668 shares during the last quarter. Finally, Weiss Asset Management LP acquired a new stake in Digi Power X during the 1st quarter valued at $540,000. Institutional investors own 1.93% of the company's stock.

Analyst Ratings Changes

DGXX has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Digi Power X in a research report on Friday, July 17th. Wall Street Zen raised shares of Digi Power X from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Finally, Alliance Global Partners restated a "buy" rating on shares of Digi Power X in a report on Friday, August 14th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $4.00.

About Digi Power X

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source