Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Why Bitcoin- And Ethereum-Related Stock Stronghold Digital Mining Is Down 24%

Published 17/08/2022, 18:56
Updated 17/08/2022, 19:42
© Reuters.  Why Bitcoin- And Ethereum-Related Stock Stronghold Digital Mining Is Down 24%

Stronghold Digital Mining Inc (NASDAQ: SDIG) shares are trading lower by 24.43% to $2.41 during Wednesday's trading session after the company reported worse-than-expected second-quarter sales results.

What Happened?

Stronghold Digital Mining reported quarterly losses of 82 cents per share. The company reported also quarterly sales of $29.18 million which missed the analyst consensus estimate of $34.86 million by 16%.

Also, B. Riley Securities analyst Lucas Pipes maintained Stronghold Digital Mining with a Buy and lowered the price target from $5 to $4.

See Also: Here's How Much You'd Have Now If You Invested $1,000 In Bitcoin, Ethereum And Dogecoin 5 Years Ago

According to data from Benzinga Pro, Stronghold Digital Mining has a 52-week high of $3.64 and a 52-week low of $0.55.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read at Benzinga

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.