HIVE Digital Technologies (NASDAQ:HIVE) Director Sells $353,192.00 in Stock

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Director Susan Mcgee sold 83,300 shares of the business’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $4.24, for a total value of $353,192.00. Following the completion of the transaction, the director owned 125,000 shares in the company, valued at $530,000. This trade represents a 39.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

HIVE Digital Technologies Stock Down 10.6%

HIVE Digital Technologies stock opened at $4.14 on Thursday. HIVE Digital Technologies Ltd. has a twelve month low of $1.70 and a twelve month high of $7.84. The stock has a 50 day moving average of $3.45 and a two-hundred day moving average of $2.84. 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 stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -7.39 and a beta of 3.74.

HIVE Digital Technologies (NASDAQ:HIVE) last released its earnings results on Tuesday, June 2nd. The company reported ($0.28) earnings per share (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 company had revenue of $71.82 million during the quarter, compared to analyst estimates of $79.99 million. As a group, research analysts expect that HIVE Digital Technologies Ltd. will post -0.74 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Canaccord Genuity Group restated a “buy” rating and set a $10.00 price objective on shares of HIVE Digital Technologies in a research report on Friday, June 5th. Keefe, Bruyette & Woods lifted their target price on shares of HIVE Digital Technologies from $3.00 to $5.00 and gave the company a “market perform” rating in a report on Friday, June 5th. HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of HIVE Digital Technologies in a report on Wednesday, June 3rd. Rosenblatt Securities raised their price objective on shares of HIVE Digital Technologies from $5.00 to $5.50 and gave the company a “buy” rating in a research report on Wednesday, June 3rd. Finally, Cantor Fitzgerald set a $7.00 price objective on HIVE Digital Technologies in a report on Thursday, June 4th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, HIVE Digital Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.90.

Institutional Investors Weigh In On HIVE Digital Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of HIVE. Millennium Management LLC boosted its position in shares of HIVE Digital Technologies by 58.1% during the 4th quarter. Millennium Management LLC now owns 6,900,828 shares of the company’s stock worth $17,804,000 after purchasing an additional 2,536,135 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of HIVE Digital Technologies by 29.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,187,363 shares of the company’s stock valued at $13,383,000 after purchasing an additional 1,193,991 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of HIVE Digital Technologies by 15.4% in the 3rd quarter. Tidal Investments LLC now owns 4,771,312 shares of the company’s stock valued at $19,228,000 after purchasing an additional 637,679 shares in the last quarter. Two Sigma Investments LP acquired a new stake in shares of HIVE Digital Technologies in the third quarter valued at about $17,584,000. Finally, Vident Advisory LLC lifted its stake 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 valued at $11,164,000 after purchasing an additional 1,087,224 shares during the period. Institutional investors and hedge funds own 24.42% of the company’s stock.

About HIVE Digital Technologies

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.