Digihost Technology (NASDAQ:DGHI) Stock Price Down 9.3% – Here’s Why

Digihost Technology Inc. (NASDAQ:DGHI)’s stock price traded down 9.3% on Thursday . The stock traded as low as $1.35 and last traded at $1.36. 424,664 shares were traded during trading, a decline of 43% from the average session volume of 738,995 shares. The stock had previously closed at $1.50.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “buy” rating and issued a $2.50 target price on shares of Digihost Technology in a research note on Monday, December 16th.

Digihost Technology Stock Performance

The company’s 50-day simple moving average is $2.21 and its 200 day simple moving average is $1.72. The stock has a market cap of $45.49 million, a P/E ratio of -2.51 and a beta of 5.54. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.01.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DGHI. Private Advisor Group LLC purchased a new stake in Digihost Technology during the fourth quarter worth about $30,000. Renaissance Technologies LLC increased its stake in shares of Digihost Technology by 140.8% during the 4th quarter. Renaissance Technologies LLC now owns 31,300 shares of the company’s stock worth $47,000 after purchasing an additional 18,300 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Digihost Technology by 108.5% in the 3rd quarter. Jane Street Group LLC now owns 87,211 shares of the company’s stock worth $101,000 after purchasing an additional 45,388 shares during the period. Citadel Advisors LLC raised its holdings in shares of Digihost Technology by 12.0% in the 4th quarter. Citadel Advisors LLC now owns 79,150 shares of the company’s stock worth $119,000 after purchasing an additional 8,499 shares during the period. Finally, Vident Advisory LLC grew its holdings in Digihost Technology by 50.6% during the fourth quarter. Vident Advisory LLC now owns 1,200,356 shares of the company’s stock valued at $1,801,000 after purchasing an additional 403,471 shares during the period. Institutional investors own 1.93% of the company’s stock.

Digihost Technology Company Profile

Digihost Technology Inc operates as a blockchain technology company in the United States and Canada. The company operates through Cryptocurrency Mining, Sales of Energy, and Colocation Services segments. It also mines for cryptocurrency; and supplies energy from power plants. Digihost Technology Inc was incorporated in 2017 and is headquartered in Houston, Texas.