1,017,996 Shares in HIVE Digital Technologies Ltd. $HIVE Purchased by Empowered Funds LLC

Empowered Funds LLC acquired a new position in shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,017,996 shares of the company’s stock, valued at approximately $1,934,000. Empowered Funds LLC owned approximately 0.38% of HIVE Digital Technologies at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. NewEdge Advisors LLC increased its stake in shares of HIVE Digital Technologies by 1,885.8% during the fourth quarter. NewEdge Advisors LLC now owns 9,929 shares of the company’s stock valued at $26,000 after purchasing an additional 9,429 shares in the last quarter. Ground Swell Capital LLC purchased a new position in shares of HIVE Digital Technologies during the fourth quarter valued at approximately $27,000. Private Advisor Group LLC bought a new stake in shares of HIVE Digital Technologies in the 1st quarter worth approximately $27,000. State of Wyoming bought a new stake in shares of HIVE Digital Technologies in the 4th quarter worth approximately $28,000. Finally, Rafferty Asset Management LLC purchased a new stake in shares of HIVE Digital Technologies in the 4th quarter worth approximately $28,000. Institutional investors own 24.42% of the company’s stock.

HIVE Digital Technologies Stock Performance

HIVE stock opened at $2.76 on Friday. The company has a market cap of $741.42 million, a P/E ratio of -4.93 and a beta of 3.78. HIVE Digital Technologies Ltd. has a 1 year low of $1.73 and a 1 year high of $7.84. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.10 and a quick ratio of 1.10. The stock’s fifty day moving average price is $3.55 and its 200-day moving average price is $2.88.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its quarterly earnings data on Tuesday, June 2nd. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $71.82 million for the quarter, compared to analysts’ expectations of $79.99 million. On average, equities analysts forecast that HIVE Digital Technologies Ltd. will post -0.78 earnings per share for the current year.

Insider Buying and Selling 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 transaction of $853,550.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dave Perrill sold 175,000 shares of the company’s stock in a transaction dated Friday, June 19th. The shares were sold at an average price of $4.69, for a total transaction of $820,750.00. Following the sale, the director directly owned 162,500 shares of the company’s stock, 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. Insiders sold a total of 681,700 shares of company stock worth $2,937,876 in the last three months. 9.44% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

HIVE has been the subject of a number of analyst reports. Cantor Fitzgerald set a $7.00 price objective on HIVE Digital Technologies in a research report on Thursday, June 4th. Keefe, Bruyette & Woods increased their target price on HIVE Digital Technologies from $3.00 to $5.00 and gave the stock a “market perform” rating in a research note on Friday, June 5th. Chardan Capital initiated coverage on HIVE Digital Technologies in a research note on Monday, July 27th. They issued a “buy” rating and a $7.50 target price on the stock. Rosenblatt Securities raised their price target on HIVE Digital Technologies from $5.00 to $5.50 and gave the company a “buy” rating in a report on Wednesday, June 3rd. Finally, B. Riley Financial lifted their price target on HIVE Digital Technologies from $5.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Seven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $6.95.

HIVE Digital Technologies 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.