Traders Buy High Volume of Digi Power X Call Options (NASDAQ:DGXX)

Key Points

• Call-option activity surged: Investors purchased 27,892 DGXX call options, about 123% above the average volume of 12,527 contracts.
• Shares gained 9% to $4.13 in Wednesday trading, though the stock remains highly volatile, with a beta of 6.28 and a 52-week range of $1.86 to $9.20.
• Analyst sentiment is mixed: Two analysts rate Digi Power X a Buy and one rates it a Sell, producing a consensus “Hold” rating and a $4.00 target price; the company also reported a quarterly loss of $0.07 per share.

Digi Power X Inc. (NASDAQ:DGXX - Get Free Report) saw unusually large options trading on Wednesday. Stock investors purchased 27,892 call options on the company. This represents an increase of approximately 123% compared to the average volume of 12,527 call options.

Wall Street Analyst Weigh In

A number of research firms have recently commented on DGXX. Weiss Ratings reissued a "sell (d-)" rating on shares of Digi Power X in a research note on Friday, July 17th. Alliance Global Partners reissued a "buy" rating on shares of Digi Power X in a research note on Friday, May 15th. Finally, Wall Street Zen upgraded Digi Power X from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $4.00.

Digi Power X Stock Up 9.0%

Shares of DGXX traded up $0.34 during trading on Wednesday, reaching $4.13. 4,602,309 shares of the company traded hands, compared to its average volume of 6,068,374. The stock has a 50-day simple moving average of $5.01 and a 200-day simple moving average of $4.18. Digi Power X has a twelve month low of $1.86 and a twelve month high of $9.20. The stock has a market cap of $373.43 million, a PE ratio of -6.35 and a beta of 6.28.

Digi Power X (NASDAQ:DGXX - Get Free Report) last released its quarterly earnings results on Friday, May 15th. The company reported ($0.07) EPS for the quarter. The firm had revenue of $6.79 million for the quarter. Digi Power X had a negative return on equity of 42.04% and a negative net margin of 98.79%.

Institutional Investors Weigh In On Digi Power X

Hedge funds have recently bought and sold shares of the stock. Vennlight Capital Management LP acquired a new stake in Digi Power X in the fourth quarter valued at approximately $4,471,000. Vident Advisory LLC acquired a new position in Digi Power X during the 3rd quarter worth approximately $2,663,000. Alyeska Investment Group L.P. acquired a new position in Digi Power X during the 3rd quarter worth approximately $1,585,000. Geode Capital Management LLC increased its position in shares of Digi Power X by 1,771.7% in the 4th quarter. Geode Capital Management LLC now owns 592,399 shares of the company's stock valued at $1,511,000 after purchasing an additional 560,749 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Digi Power X by 157.8% in the 4th quarter. Renaissance Technologies LLC now owns 883,501 shares of the company's stock valued at $2,253,000 after purchasing an additional 540,801 shares during the last quarter. Institutional investors and hedge funds 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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