Stronghold Digital Mining (NASDAQ:SDIG) PT Lowered to $16.00 at Compass Point

Stronghold Digital Mining (NASDAQ:SDIG – Get Rating) had its price objective lowered by Compass Point to $16.00 in a research report sent to investors on Thursday, Stock Target Advisor reports. Compass Point currently has a neutral rating on the stock.

Several other analysts have also weighed in on the stock. Northland Securities dropped their price objective on shares of Stronghold Digital Mining from $15.00 to $7.00 in a report on Tuesday, May 17th. Zacks Investment Research raised shares of Stronghold Digital Mining from a sell rating to a hold rating in a report on Thursday. B. Riley lowered their price target on shares of Stronghold Digital Mining from $16.00 to $13.00 in a report on Tuesday, May 17th. Finally, Cowen lowered their price target on shares of Stronghold Digital Mining from $22.00 to $11.00 in a report on Wednesday, March 30th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Buy and an average price target of $11.75.

NASDAQ:SDIG opened at $2.89 on Thursday. Stronghold Digital Mining has a 12-month low of $1.87 and a 12-month high of $35.79. The company has a debt-to-equity ratio of 8.61, a current ratio of 0.41 and a quick ratio of 0.56. The firm has a 50-day moving average price of $5.40 and a 200 day moving average price of $11.17.

Stronghold Digital Mining (NASDAQ:SDIG – Get Rating) last posted its quarterly earnings results on Tuesday, March 29th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.06. The business had revenue of $17.01 million during the quarter, compared to analyst estimates of $16.71 million. As a group, equities analysts anticipate that Stronghold Digital Mining will post 0.04 EPS for the current year.

A number of hedge funds have recently made changes to their positions in the business. AJ Wealth Strategies LLC bought a new position in shares of Stronghold Digital Mining during the fourth quarter worth $483,000. Van ECK Associates Corp bought a new position in shares of Stronghold Digital Mining during the fourth quarter worth $2,131,000. Allspring Global Investments Holdings LLC bought a new position in shares of Stronghold Digital Mining during the fourth quarter worth $2,733,000. Emerald Advisers LLC bought a new position in shares of Stronghold Digital Mining during the fourth quarter worth $1,587,000. Finally, Emerald Mutual Fund Advisers Trust bought a new position in shares of Stronghold Digital Mining during the fourth quarter worth $4,636,000. 27.81% of the stock is currently owned by hedge funds and other institutional investors.

About Stronghold Digital Mining (Get Rating)

Stronghold Digital Mining, Inc, a crypto asset mining company, focuses on mining Bitcoin in the United States. It also operates coal refuse power generation facilities. The company was incorporated in 2021 and is headquartered in New York, New York.

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