Digi Power X (NASDAQ:DGXX) Trading 8.4% Higher - Here's Why

Key Points

• Shares jumped 8.4% to $3.37 on Thursday with about 1.2M shares traded (≈41% below average); the company has a market cap of ~$154.5M and 50-/200-day moving averages of $2.66/$3.16.
• Quarterly results missed EPS: reported (−$0.31) vs. consensus (−$0.14) but revenue beat at $8.65M vs. $6.8M, and the company shows a deep negative net margin (~82.9%) and negative ROE (~54.8%).
• Analyst and insider signals are mixed: consensus rating is Hold with a $4.00 target despite recent Sell downgrades, while insiders have sold shares (president sold 27,500) even as several institutions opened or increased positions.

Digi Power X Inc. (NASDAQ:DGXX - Get Free Report)'s share price traded up 8.4% during mid-day trading on Thursday . The stock traded as high as $3.37 and last traded at $3.37. 1,196,734 shares changed hands during trading, a decline of 41% from the average session volume of 2,041,191 shares. The stock had previously closed at $3.11.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Wall Street Zen downgraded Digi Power X from a "hold" rating to a "sell" rating in a report on Saturday, March 21st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Digi Power X in a report on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $4.00.

Digi Power X Trading Up 8.4%

The business has a 50-day moving average price of $2.66 and a 200 day moving average price of $3.16. The stock has a market cap of $154.45 million, a PE ratio of -5.35 and a beta of 5.85.

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

Insider Activity at Digi Power X

In other news, President Alec Amar sold 27,500 shares of the company's stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $2.53, for a total transaction of $69,575.00. Following the transaction, the president owned 1,263,116 shares of the company's stock, valued at $3,195,683.48. This represents a 2.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 55,000 shares of company stock worth $131,707.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Sovereign Financial Group Inc. purchased a new position in shares of Digi Power X during the 1st quarter valued at $39,000. XTX Topco Ltd purchased a new position in shares of Digi Power X during the 4th quarter valued at $414,000. Vennlight Capital Management LP purchased a new position in shares of Digi Power X during the 4th quarter valued at $4,471,000. Quadrature Capital Ltd purchased a new position in shares of Digi Power X during the 4th quarter valued at $930,000. Finally, Millennium Management LLC purchased a new position in shares of Digi Power X during the 4th quarter valued at $197,000. Hedge funds and other institutional investors own 1.93% of the company's stock.

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.

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