Short Interest in Blackstone Digital Infrastructure Trust Inc. (NYSE:BXDC) Expands By 180.0%

Key Points

• Short interest in BXDC surged 180% in June to 2,451,905 shares, with about 2.8% of the float sold short and a days-to-cover ratio of 1.6 days.
• Several analysts recently initiated or updated coverage, leaving Blackstone Digital Infrastructure Trust with a consensus “Hold” rating and an average price target of $23.79.
• The stock fell to $20.81 in Monday trading, while insiders have been active buyers, including a large Blackstone-related purchase of nearly 9.5 million shares at $20 each.

Blackstone Digital Infrastructure Trust Inc. (NYSE:BXDC - Get Free Report) was the target of a significant growth in short interest in the month of June. As of June 30th, there was short interest totaling 2,451,905 shares, a growth of 180.0% from the June 15th total of 875,825 shares. Approximately 2.8% of the shares of the company are sold short. Based on an average trading volume of 1,568,435 shares, the days-to-cover ratio is presently 1.6 days.

Analyst Upgrades and Downgrades

A number of research firms have commented on BXDC. Zacks Research upgraded shares of Blackstone Digital Infrastructure Trust to a "hold" rating in a research note on Tuesday, June 9th. Sanford C. Bernstein 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. BNP Paribas Exane assumed coverage on Blackstone Digital Infrastructure Trust in a report on Monday, June 8th. They set an "outperform" rating and a $26.00 price target on the stock. Barclays began coverage on Blackstone Digital Infrastructure Trust in a research report on Monday, June 8th. They issued an "overweight" rating and a $24.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Blackstone Digital Infrastructure Trust in a research note on Monday, June 8th. They set a "buy" rating and a $24.00 price objective for the company. Six research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Blackstone Digital Infrastructure Trust currently has a consensus rating of "Hold" and an average target price of $23.79.

Blackstone Digital Infrastructure Trust Price Performance

NYSE:BXDC traded down $0.57 during midday trading on Monday, reaching $20.81. The stock had a trading volume of 510,318 shares, compared to its average volume of 1,201,821. The business's fifty day simple moving average is $21.62. Blackstone Digital Infrastructure Trust has a 12-month low of $19.60 and a 12-month high of $22.90.

Insiders Place Their Bets

In other Blackstone Digital Infrastructure Trust news, insider Nicholas L. Pell bought 25,000 shares of the business's stock in a transaction dated Friday, May 15th. The shares were acquired at an average cost of $20.00 per share, with a total value of $500,000.00. Following the acquisition, the insider directly owned 25,000 shares of the company's stock, valued at $500,000. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Treasury Holdings I. Blackstone purchased 9,486,795 shares of Blackstone Digital Infrastructure Trust stock in a transaction that occurred on Friday, May 15th. The stock was acquired at an average price of $20.00 per share, with a total value of $189,735,900.00. Following the transaction, the insider owned 9,111,800 shares in the company, valued at $182,236,000. The trade was a -2,529.85% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders acquired 9,557,295 shares of company stock valued at $191,145,900.

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