Stronghold Digital Mining Inc. (NASDAQ:SDIG) saw an upside of 2.19% to close Friday at $1.40 after adding $0.03 on the day. The 5-day average trading volume is 1,232,940 shares of the company’s common stock. It has gained $1.8804 in the past week and touched a new high 1 time within the past 5 days. An average of 1,284,590 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 3,894,736.
SDIG’s 1-month performance is -44.44% or -$0.8800 on its low of $1.2800 reached on 09/01/22. The company’s shares have touched a 52-week low of $1.28 and high of $35.79. YTD, SDIG has lost -89.11% or -$11.4500 and has reached a new high 4 times. However, the current price is down -96.09% from the 52-week high price.
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Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.93 while the price-to-book (PB) in the most recent quarter is 0.19.
Stronghold Digital Mining Inc.’s quick ratio for the period ended March 30 was 0.30, with the current ratio over the same period at 0.30. As well, the company’s long term debt to equity for the quarter ending March 30 was 0.18, while the total debt to equity was 0.88. In terms of profitability, the gross margin trailing 12 months is 17.80%. The firm’s gross profit as reported stood at $2.23 million against revenue of $30.91 million.
For the quarterly period ending March 30 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 92.28% to -$16.7 million, while revenue of -$13.41 million was 19.7% off the previous quarter. Analysts expected SDIG to announce -$0.05 per share in earnings in its latest quarter, but it posted -$0.66, representing a -1,220.00% surprise. EBITDA for the quarter stood at more than -$16.0 million. SDIG stock balance sheet for the quarter ending March 30 shows that total liabilities totaled 219.67 million, with total debt at $109.13 million. Shareholders hold equity totaling $48.31 million.
Let’s look briefly at Stronghold Digital Mining Inc. (SDIG) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 02 September was 27.60% to suggest the stock is trending oversold, with historical volatility in this time period at 100.31%.
The stock’s 5-day moving average is $1.4440, reflecting a -23.08% or -$0.4200 change from its current price. SDIG is currently trading -44.44% above its 20-day SMA, -70.71% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -23.08% and SMA200 by-94.27%.
Stochastic %K and %D was 3.54% and 2.33% and the average true range (ATR) pointed at 0.2512. The RSI (14) points at 34.12%, while the 14-day stochastic is at 5.38% with the period’s ATR at 0.2812. The stock’s 9-day MACD Oscillator is pointing at -0.2800 and -0.5176 on the 14-day charts.
In the most recent analyst report for Stronghold Digital Mining Inc. (NASDAQ: SDIG), Cowen downgraded it to a Market perform rating. They previously had an Outperform rating on the stock. Analysts offering their rating for SDIG stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate SDIG as a “sell,”, while 1 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 4 have offered a “buy” rating.
What is SDIG’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $2.25 and a high of $6.50, with their median price target at $4.00. Looking at these predictions, the average price target given by analysts is for Stronghold Digital Mining Inc. (SDIG) stock is $4.55.