We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Stronghold Digital Mining, Inc. (SDIG) Soars 10.5%: Is Further Upside Left in the Stock?
Read MoreHide Full Article
Stronghold Digital Mining, Inc. (SDIG - Free Report) shares rallied 10.5% in the last trading session to close at $9.37. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 107.8% gain over the past four weeks.
The surge in Stronghold Digital Mining's price can be attributed to the significant growth and increasing value of cryptocurrencies. As the digital asset market continues to expand and gain popularity, it has positively influenced the performance of SDIG and attracted investors to the company.
This company is expected to post quarterly loss of $1.27 per share in its upcoming report, which represents a year-over-year change of -323.3%. Revenues are expected to be $22.2 million, down 23.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Stronghold Digital Mining, Inc., the consensus EPS estimate for the quarter has been revised 13.7% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on SDIG going forward to see if this recent jump can turn into more strength down the road.
Stronghold Digital Mining, Inc. is a member of the Zacks Technology Services industry. One other stock in the same industry, Bakkt Holdings, Inc. (BKKT - Free Report) , finished the last trading session 19.1% higher at $1.93. BKKT has returned 13.3% over the past month.
Bakkt Holdings, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.18. Compared to the company's year-ago EPS, this represents no change. Bakkt Holdings, Inc. currently boasts a Zacks Rank of #3 (Hold).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Stronghold Digital Mining, Inc. (SDIG) Soars 10.5%: Is Further Upside Left in the Stock?
Stronghold Digital Mining, Inc. (SDIG - Free Report) shares rallied 10.5% in the last trading session to close at $9.37. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 107.8% gain over the past four weeks.
The surge in Stronghold Digital Mining's price can be attributed to the significant growth and increasing value of cryptocurrencies. As the digital asset market continues to expand and gain popularity, it has positively influenced the performance of SDIG and attracted investors to the company.
This company is expected to post quarterly loss of $1.27 per share in its upcoming report, which represents a year-over-year change of -323.3%. Revenues are expected to be $22.2 million, down 23.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Stronghold Digital Mining, Inc., the consensus EPS estimate for the quarter has been revised 13.7% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on SDIG going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Stronghold Digital Mining, Inc. is a member of the Zacks Technology Services industry. One other stock in the same industry, Bakkt Holdings, Inc. (BKKT - Free Report) , finished the last trading session 19.1% higher at $1.93. BKKT has returned 13.3% over the past month.
Bakkt Holdings, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.18. Compared to the company's year-ago EPS, this represents no change. Bakkt Holdings, Inc. currently boasts a Zacks Rank of #3 (Hold).