Stronghold Digital Mining Inc. [NASDAQ: SDIG] stock went on an upward path that rose over 23.10% on Thursday, amounting to a one-week price increase of more than 44.43%. The company report on March 29, 2023 that Stronghold Digital Mining Reports Fourth Quarter and Full Year 2022 Results and Provides Operational Update.
Over the last 12 months, SDIG stock dropped by -79.71%. The one-year Stronghold Digital Mining Inc. stock forecast points to a potential upside of 35.33. The average equity rating for SDIG stock is currently 1.70, trading closer to a bullish pattern in the stock market.
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The market cap for the stock reached $65.48 million, with 67.10 million shares outstanding and 33.34 million shares in the current float. Compared to the average trading volume of 1.82M shares, SDIG stock reached a trading volume of 3502390 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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 $1.50 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.
Cowen have made an estimate for Stronghold Digital Mining Inc. shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on August 18, 2022.
The Average True Range (ATR) for Stronghold Digital Mining Inc. is set at 0.10, with the Price to Sales ratio for SDIG stock in the period of the last 12 months amounting to 0.62. The Price to Book ratio for the last quarter was 0.26, with the Price to Cash per share for the same quarter was set at 0.20.
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 44.43. With this latest performance, SDIG shares gained by 92.12% in over the last four-week period, additionally plugging by 9.67% over the last 6 months – not to mention a drop of -79.71% in the past year of trading.
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 74.39, with the RSI for the last a single of trading hit 79.11, and the three-weeks RSI is set at 69.67 for Stronghold Digital Mining Inc. [SDIG]. The present Moving Average for the last 50 days of trading for this stock 0.6030, while it was recorded at 0.8009 for the last single week of trading, and 1.0931 for the last 200 days.
Insight into Stronghold Digital Mining Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Stronghold Digital Mining Inc. [SDIG] shares currently have an operating margin of -67.41 and a Gross Margin at -25.48. Stronghold Digital Mining Inc.’s Net Margin is presently recorded at -84.18.
Return on Equity for this stock declined to -53.03, with Return on Assets sitting at -31.23.
Stronghold Digital Mining Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.60.
Stronghold Digital Mining Inc. [SDIG] Insider Position Details
There are presently around $6 million, or 27.30% of SDIG stock, in the hands of institutional investors. The top three institutional holders of SDIG stocks are: ADAGE CAPITAL PARTNERS GP, L.L.C. with ownership of 3,022,003, which is approximately New of the company’s market cap and around 3.20% of the total institutional ownership; ARMISTICE CAPITAL, LLC, holding 2,274,350 shares of the stock with an approximate value of $1.79 million in SDIG stocks shares; and COOPER CREEK PARTNERS MANAGEMENT LLC, currently with $0.95 million in SDIG stock with ownership of nearly -22.883% of the company’s market capitalization.
Positions in Stronghold Digital Mining Inc. stocks held by institutional investors increased at the end of Monday and at the time of the Monday reporting period, where 20 institutional holders increased their position in Stronghold Digital Mining Inc. [NASDAQ:SDIG] by around 3,371,725 shares. Additionally, 19 investors decreased positions by around 1,128,833 shares, while 16 investors held positions by with 3,707,025 shares. The mentioned changes placed institutional holdings at 8,207,583 shares, according to the latest SEC report filing. SDIG stock had 12 new institutional investments in for a total of 3,153,183 shares, while 11 institutional investors sold positions of 467,875 shares during the same period.