Canaccord Genuity Group initiated coverage on shares of Ionic Digital (NASDAQ:IOND – Free Report) in a research report sent to investors on Thursday, Marketbeat Ratings reports. The firm issued a buy rating and a $119.00 target price on the stock.
IOND has been the topic of several other reports. BTIG Research started coverage on Ionic Digital in a research report on Monday, August 24th. They set a “buy” rating and a $85.00 target price on the stock. Wall Street Zen lowered Ionic Digital from a “hold” rating to a “sell” rating in a research note on Sunday, September 27th. Finally, Jefferies Financial Group assumed coverage on Ionic Digital in a report on Monday, August 24th. They issued a “buy” rating and a $85.00 price target for the company. Three research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, Ionic Digital currently has an average rating of “Buy” and a consensus target price of $96.33.
Get Our Latest Research Report on Ionic Digital
Ionic Digital Price Performance
IOND stock opened at $62.28 on Thursday. The stock has a market cap of $2.80 billion and a PE ratio of -48.28. Ionic Digital has a one year low of $50.00 and a one year high of $89.36. The stock has a 50 day moving average price of $75.64.
Ionic Digital (NASDAQ:IOND – Get Free Report) last issued its quarterly earnings results on Wednesday, August 19th. The company reported ($0.94) earnings per share for the quarter. The business 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. Its operations center on deploying and managing specialized computing equipment, commonly known as application-specific integrated circuits, to validate transactions and earn bitcoin rewards through the Bitcoin network.
The company was established in connection with the restructuring of Celsius Network and the transfer of Celsius-related mining assets to a new, creditor-owned business. Ionic Digital’s mining activities have been associated with facilities in the United States, including operations in Texas and New York.
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