HIVE Digital Technologies Ltd. $HIVE Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC lessened its position in shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) by 41.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 527,042 shares of the company’s stock after selling 378,469 shares during the period. Lazard Asset Management LLC’s holdings in HIVE Digital Technologies were worth $1,001,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Millennium Management LLC lifted its stake in shares of HIVE Digital Technologies by 58.1% in the 4th quarter. Millennium Management LLC now owns 6,900,828 shares of the company’s stock valued at $17,804,000 after purchasing an additional 2,536,135 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in HIVE Digital Technologies by 29.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,187,363 shares of the company’s stock worth $13,383,000 after purchasing an additional 1,193,991 shares in the last quarter. Tidal Investments LLC increased its position in HIVE Digital Technologies by 15.4% during the 3rd quarter. Tidal Investments LLC now owns 4,771,312 shares of the company’s stock worth $19,228,000 after purchasing an additional 637,679 shares in the last quarter. Two Sigma Investments LP purchased a new stake in HIVE Digital Technologies during the third quarter worth approximately $17,584,000. Finally, Vident Advisory LLC increased its position in shares of HIVE Digital Technologies by 33.6% in the fourth quarter. Vident Advisory LLC now owns 4,327,141 shares of the company’s stock worth $11,164,000 after acquiring an additional 1,087,224 shares in the last quarter. 24.42% of the stock is currently owned by institutional investors and hedge funds.

HIVE Digital Technologies Stock Down 2.4%

HIVE stock opened at $2.84 on Thursday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.10. The firm has a 50 day simple moving average of $3.58 and a 200-day simple moving average of $2.89. The company has a market capitalization of $762.91 million, a P/E ratio of -5.07 and a beta of 3.78. HIVE Digital Technologies Ltd. has a twelve month low of $1.73 and a twelve month high of $7.84.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its quarterly earnings results on Tuesday, June 2nd. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.07). HIVE Digital Technologies had a negative net margin of 49.21% and a negative return on equity of 23.12%. The company had revenue of $71.82 million during the quarter, compared to analyst estimates of $79.99 million. On average, equities research analysts predict that HIVE Digital Technologies Ltd. will post -0.78 earnings per share for the current fiscal year.

Insider Transactions at HIVE Digital Technologies

In other news, COO Luke Rossy sold 215,000 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $3.97, for a total value of $853,550.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Dave Perrill sold 175,000 shares of the stock in a transaction dated Friday, June 19th. The stock was sold at an average price of $4.69, for a total transaction of $820,750.00. Following the transaction, the director directly owned 162,500 shares in the company, valued at $762,125. The trade was a 51.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 681,700 shares of company stock valued at $2,937,876. Insiders own 9.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HIVE. Canaccord Genuity Group reaffirmed a “buy” rating and set a $10.00 price target on shares of HIVE Digital Technologies in a research report on Friday, June 5th. B. Riley Financial boosted their target price on shares of HIVE Digital Technologies from $5.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Chardan Capital initiated coverage on shares of HIVE Digital Technologies in a research note on Monday, July 27th. They set a “buy” rating and a $7.50 price target on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of HIVE Digital Technologies from $3.00 to $5.00 and gave the stock a “market perform” rating in a report on Friday, June 5th. Finally, Rosenblatt Securities raised their target price on HIVE Digital Technologies from $5.00 to $5.50 and gave the company a “buy” rating in a research note on Wednesday, June 3rd. Seven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.95.

HIVE Digital Technologies Company Profile

HIVE Digital Technologies Ltd is a publicly traded blockchain infrastructure company that specializes in the mining of digital assets such as Bitcoin and Ethereum. Using high-performance GPU and ASIC hardware, HIVE deploys proprietary mining rigs across multiple data centers to validate transactions on major blockchain networks. The company’s operations are designed to maximize hashing power while maintaining efficiency and uptime, enabling it to build and hold a portfolio of mined cryptocurrencies.

Headquartered in Vancouver, British Columbia, HIVE Digital operates data center facilities in North America and Europe, including Canada, Sweden and Iceland.