Wall Street Zen cut shares of Ionic Digital (NASDAQ:IOND – Free Report) from a hold rating to a sell rating in a research note released on Sunday morning.
A number of other analysts have also recently weighed in on the company. Jefferies Financial Group started coverage on Ionic Digital in a research report on Monday, August 24th. They issued a “buy” rating and a $85.00 price target on the stock. BTIG Research started coverage on Ionic Digital in a report on Monday, August 24th. They set a “buy” rating and a $85.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $85.00.
Read Our Latest Analysis on Ionic Digital
Ionic Digital Price Performance
Ionic Digital (NASDAQ:IOND – Get Free Report) last issued its earnings results on Wednesday, August 19th. The company reported ($0.94) earnings per share (EPS) for the quarter. The firm had revenue of $48.65 million during the quarter.
Ionic Digital Company Profile
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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