Key Points
- Director Michael Abbate bought 7,149 Ionic Digital shares for about $464,542 at an average price of $64.98, increasing his holdings by 14.34% to 57,017 shares. He also purchased 12,493 shares the previous day for about $827,037.
- Ionic Digital shares fell $4.78 to $59.84 on Friday, below their 50-day moving average of $73.68; the stock’s 12-month range is $50.00–$89.36.
- Analysts have a “Moderate Buy” consensus and an average price target of $96.33, though ratings include both Buy and Sell recommendations. The company reported quarterly EPS of $0.38 and revenue of $48.99 million.
Ionic Digital Inc. (NASDAQ:IOND - Get Free Report) Director Michael Abbate acquired 7,149 shares of the business's stock in a transaction on Thursday, November 12th. The stock was acquired at an average price of $64.98 per share, for a total transaction of $464,542.02. Following the acquisition, the director owned 57,017 shares of the company's stock, valued at approximately $3,704,964.66. This trade represents a 14.34% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Michael Abbate also recently made the following trade(s):
- On Wednesday, November 11th, Michael Abbate bought 12,493 shares of Ionic Digital stock. The shares were acquired at an average cost of $66.20 per share, with a total value of $827,036.60.
Ionic Digital Stock Performance
Shares of IOND stock traded down $4.78 during trading hours on Friday, hitting $59.84. 308,345 shares of the company's stock traded hands, compared to its average volume of 426,660. The stock has a fifty day moving average price of $73.68. Ionic Digital Inc. has a 12-month low of $50.00 and a 12-month high of $89.36. The firm has a market cap of $2.69 billion and a PE ratio of -65.76.
Ionic Digital (NASDAQ:IOND - Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.38 earnings per share for the quarter. The company had revenue of $48.99 million during the quarter.
Analysts Set New Price Targets
Several research firms have commented on IOND. BTIG Research initiated coverage on Ionic Digital in a report on Monday, August 24th. They issued a "buy" rating and a $85.00 target price on the stock. Canaccord Genuity Group started coverage on Ionic Digital in a report on Thursday, October 22nd. They set a "buy" rating and a $119.00 price target for the company. Wall Street Zen downgraded Ionic Digital from a "hold" rating to a "sell" rating in a report on Sunday, September 27th. Weiss Ratings raised Ionic Digital from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday. Finally, Jefferies Financial Group began coverage on shares of Ionic Digital in a research note on Monday, August 24th. They issued a "buy" rating and a $85.00 price target on the stock. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $96.33.
Get Our Latest Research Report on IOND
About Ionic Digital
(
Get Free Report)
Ionic Digital is a bitcoin mining and digital infrastructure company. Its business centers on operating mining facilities and the computing infrastructure used to validate transactions on the Bitcoin network. The company was formed in 2024 as part of the restructuring of Celsius Network, acquiring Celsius-related bitcoin mining assets. Ionic Digital has focused on developing and operating its mining operations in the United States. Its activities include managing data-center capacity and mining equipment, as well as maintaining the infrastructure needed to support continuous operations.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
