In a report released today, Kevin Dede from H.C. Wainwright reiterated a Buy rating on Stronghold Digital Mining (SDIG – Research Report), with a price target of $3.00. The company’s shares closed yesterday at $0.70.
According to TipRanks, Dede is an analyst with an average return of -12.0% and a 27.50% success rate. Dede covers the Technology sector, focusing on stocks such as Kopin, HIVE Blockchain Technologies, and Mawson Infrastructure Group.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Stronghold Digital Mining with a $2.75 average price target.
Based on Stronghold Digital Mining’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $29.18 million and a GAAP net loss of $16.7 million. In comparison, last year the company earned a revenue of $4.18 million and had a GAAP net loss of $1.01 million
Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SDIG in relation to earlier this year.
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Stronghold Digital Mining Inc is a vertically integrated crypto asset mining company currently focused on mining Bitcoin.
Read More on SDIG:
- Stronghold Digital Mining Sets Third Quarter 2022 Earnings Conference Call for Wednesday, November 9 at 5:00 p.m. Eastern Time
- Stronghold Digital Mining Announces Extinguishment of Debt and Closing of Previously Announced WhiteHawk Restructuring
- Here’s What You Missed in Crypto This Week
- Stronghold Digital Mining price target lowered to $6 from $6.50 at Compass Point
- Stronghold Digital Mining announces termination of Northern Data agreement