Report On Stronghold Digital Mining Inc.’s (SDIG) Price Performance

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The stock of Stronghold Digital Mining Inc. (NASDAQ:SDIG) decreased by -$0.17 on Tuesday to $1.49, down -10.25 percent. The last five days have seen an average of 995,346 shares of common stock traded. The average number of shares traded over the last 20 days was 1,164,757, while the average volume over the last 50 days totaled 3,877,417.

SDIG stock dropped -42.96% since last month. On 09/07/22, the company’s shares reached a one-month low of $1.2700. The stock touched a high of $35.79, after rallying from a low of $1.27 in 52 weeks. The price of SDIG stock has declined by -87.08% or -$11.3400 this year, reaching a new high 4 times. Still, the stock price is down -95.84% from the 52-week high.


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Financial Health

For the three months ended June 29, Stronghold Digital Mining Inc.’s quick ratio was 0.30, while its current ratio was 0.30, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.18, and the total debt to equity ratio is 0.88. As far as profitability goes, gross margin for the trailing twelve months is 17.80% percent. Stronghold Digital Mining Inc.’s operating margin stood at -95.00% for the same period. Based on annual data, it had gross profit of $2.23 million and revenue of $30.91 million.

Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. SDIG’s return on assets (ROA) during the last 12 months has been -12.80%. There was a -7.80% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -31.20%.

Earnings Surprise

According to Stronghold Digital Mining Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $29.18 million, while revenues rose by 100.0% to $28.7 million. It was predicted that Stronghold Digital Mining Inc.’s quarterly earnings would be -$0.82, but it ended up being -$0.21, beating the consensus by -290.50%. EBITDA was -$16.0 million for the quarter. At the end of Stronghold Digital Mining Inc.’s most recent quarter ended June 29, its liabilities totaled 219.67 million, while its total debt was $127.48 million. Equity owned by shareholders amounts to $48.31 million.

Technical Picture

Here’s a quick look at Stronghold Digital Mining Inc.’s (SDIG) price momentum from a technical perspective. As of 12 September, the RSI 9-day stood at 40.12%, suggesting the stock is Neutral, with a 94.59% historical volatility rate.

The stochastic %K and %D were 40.24% and 33.82% respectively, while the average true range (ATR) was 0.2156. Based on the 14-day stochastic reading of 30.38%, the RSI (14) reading is 40.36%. On the 9-day MACD Oscillator, the stock is at 0.1422, and the 14-day reading is at 0.0255.

Analyst Ratings

Stronghold Digital Mining Inc. (NASDAQ: SDIG) was downgraded by Cowen to a a Market perform rating in its latest research report. The stock was previously rated as a an Outperform.

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