Jefferies Financial Group upgraded shares of Ionic Digital (NASDAQ:IOND – Free Report) to a strong-buy rating in a research note published on Monday morning,Zacks.com reports.
Several other research firms have also issued reports on IOND. BTIG Research assumed coverage on Ionic Digital in a research report on Monday. They issued a “buy” rating and a $85.00 price target for the company. Wall Street Zen raised Ionic Digital to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Strong Buy” and a consensus target price of $85.00.
Ionic Digital Stock Up 1.2%
Ionic Digital (NASDAQ:IOND – Get Free Report) last posted its earnings results on Wednesday, August 19th. The company reported ($0.94) earnings per share (EPS) for the quarter. The business had revenue of $48.65 million for the quarter.
About Ionic Digital
Ionic Digital, Inc is a digital asset mining company focused primarily on the production of bitcoin. The company operates and develops specialized computing infrastructure, including application-specific integrated circuit (ASIC) mining equipment and related power, cooling, and data-center systems used to validate transactions on the Bitcoin network.
Ionic Digital was established using assets associated with Celsius Mining following the bankruptcy proceedings of Celsius Network. Its operations have been associated with mining facilities in the United States, including locations in Texas and New York.
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