Blackstone Digital Infrastructure Trust Inc. (NYSE:BXDC) Sees Significant Increase in Short Interest

Key Points

• Short interest surged 86.3% to 4.12 million shares as of September 15, representing about 4.1% of BXDC’s outstanding shares and 3.7 days of average trading volume.
• Analyst sentiment is mixed, with a consensus rating of “Hold” and an average price target of $23.71; ratings include six Buys, seven Holds, and one Sell.
• BXDC shares fell to $17.64, near their 52-week low of $17.52, despite the company reporting quarterly EPS of $0.08 versus the $0.04 consensus estimate. Several institutional investors, including Wellington Management and State Street, recently initiated positions.

Blackstone Digital Infrastructure Trust Inc. (NYSE:BXDC - Get Free Report) saw a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 4,124,524 shares, a growth of 86.3% from the August 31st total of 2,213,988 shares. Based on an average daily trading volume, of 1,114,167 shares, the short-interest ratio is presently 3.7 days. Approximately 4.1% of the shares of the company are sold short.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. BNP Paribas Exane started coverage on shares of Blackstone Digital Infrastructure Trust in a research note on Monday, June 8th. They set an "outperform" rating and a $26.00 target price for the company. Citigroup initiated coverage on Blackstone Digital Infrastructure Trust in a report on Monday, June 8th. They issued a "neutral" rating and a $23.00 target price on the stock. Royal Bank Of Canada began coverage on Blackstone Digital Infrastructure Trust in a research report on Monday, June 8th. They set an "outperform" rating and a $24.00 target price on the stock. JPMorgan Chase & Co. began coverage on Blackstone Digital Infrastructure Trust in a research report on Monday, June 8th. They issued a "neutral" rating and a $23.00 price target for the company. Finally, Zacks Research raised Blackstone Digital Infrastructure Trust to a "hold" rating in a research note on Tuesday, June 9th. Six equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $23.71.

Hedge Funds Weigh In On Blackstone Digital Infrastructure Trust

Several institutional investors have recently bought and sold shares of BXDC. Wellington Management Group LLP bought a new position in shares of Blackstone Digital Infrastructure Trust during the 2nd quarter valued at about $83,382,000. Fund 1 Investments LLC bought a new stake in shares of Blackstone Digital Infrastructure Trust in the second quarter worth about $2,731,000. Readystate Asset Management LP purchased a new stake in shares of Blackstone Digital Infrastructure Trust in the second quarter worth about $1,127,000. Squarepoint Ops LLC purchased a new stake in shares of Blackstone Digital Infrastructure Trust in the second quarter worth about $1,426,000. Finally, State Street Corp bought a new position in Blackstone Digital Infrastructure Trust during the second quarter valued at approximately $9,303,000.

Blackstone Digital Infrastructure Trust Price Performance

Shares of BXDC stock traded down $0.49 on Tuesday, hitting $17.64. 4,426,348 shares of the stock traded hands, compared to its average volume of 1,370,317. Blackstone Digital Infrastructure Trust has a 52 week low of $17.52 and a 52 week high of $22.90. The business has a 50 day moving average price of $20.15.

Blackstone Digital Infrastructure Trust (NYSE:BXDC - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.04. Equities research analysts expect that Blackstone Digital Infrastructure Trust will post 0.35 earnings per share for the current fiscal year.

About Blackstone Digital Infrastructure Trust

Blackstone Digital Infrastructure Trust, Inc is a digital infrastructure investment company sponsored by Blackstone. The trust focuses on owning and investing in essential infrastructure that supports the digital economy, including data centers and related facilities used by cloud-computing, telecommunications and technology businesses.

Its investments are intended to provide the physical capacity and connectivity required for data storage, processing and network services. The trust's portfolio may include operating digital infrastructure assets as well as investments in companies that develop, own or manage those assets.

Blackstone Digital Infrastructure Trust is part of Blackstone's broader global digital infrastructure platform.

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