Stronghold Digital Mining Inc. [SDIG] is -75.02% lower this YTD. Is it still time to buy?

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Stronghold Digital Mining Inc. [NASDAQ: SDIG] price surged by 50.00 percent to reach at $1.07. The company report on May 16, 2022 that Stronghold Digital Mining Reports First Quarter 2022 Results and Provides Operational Update.


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Stronghold Digital Mining, Inc. (Nasdaq: SDIG) (“Stronghold,” or the “Company”) today reported financial results for its first quarter ended March 31, 2022 and provided an operational update.

A sum of 101712783 shares traded at recent session while its average daily volume was at 645.79K shares. Stronghold Digital Mining Inc. shares reached a high of $3.44 and dropped to a low of $2.59 until finishing in the latest session at $3.21.

The one-year SDIG stock forecast points to a potential upside of 65.59. The average equity rating for SDIG stock is currently 1.70, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Stronghold Digital Mining Inc. [SDIG]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SDIG shares is $9.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SDIG stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

The Average True Range (ATR) for Stronghold Digital Mining Inc. is set at 0.31, with the Price to Sales ratio for SDIG stock in the period of the last 12 months amounting to 2.76. The Price to Book ratio for the last quarter was 0.37, with the Price to Cash per share for the same quarter was set at 0.64.

SDIG Stock Performance Analysis:

Stronghold Digital Mining Inc. [SDIG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 71.66. With this latest performance, SDIG shares gained by 105.77% in over the last four-week period, additionally sinking by -72.26% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SDIG stock in for the last two-week period is set at 73.68, with the RSI for the last a single of trading hit 84.80, and the three-weeks RSI is set at 62.45 for Stronghold Digital Mining Inc. [SDIG]. The present Moving Average for the last 50 days of trading for this stock 2.23, while it was recorded at 2.16 for the last single week of trading.

Insight into Stronghold Digital Mining Inc. Fundamentals:

Stronghold Digital Mining Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.40 and a Current Ratio set at 0.40.

Stronghold Digital Mining Inc. [SDIG] Insider Position Details

There are presently around $29 million, or 45.90% of SDIG stock, in the hands of institutional investors. The top three institutional holders of SDIG stocks are: HOUND PARTNERS, LLC with ownership of 1,365,944, which is approximately -15.402% of the company’s market cap and around 1.50% of the total institutional ownership; TOROSO INVESTMENTS, LLC, holding 1,183,354 shares of the stock with an approximate value of $3.8 million in SDIG stocks shares; and COOPER CREEK PARTNERS MANAGEMENT LLC, currently with $3.08 million in SDIG stock with ownership of nearly 56.18% of the company’s market capitalization.

Positions in Stronghold Digital Mining Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 48 institutional holders increased their position in Stronghold Digital Mining Inc. [NASDAQ:SDIG] by around 1,997,941 shares. Additionally, 48 investors decreased positions by around 4,855,459 shares, while 12 investors held positions by with 2,273,427 shares. The mentioned changes placed institutional holdings at 9,126,827 shares, according to the latest SEC report filing. SDIG stock had 27 new institutional investments in for a total of 330,461 shares, while 24 institutional investors sold positions of 3,108,861 shares during the same period.

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