HIVE Digital Technologies (NASDAQ:HIVE) Releases Earnings Results, Beats Estimates By $0.02 EPS

HIVE Digital Technologies (NASDAQ:HIVE) issued its earnings results on Friday. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.02, Zacks reports. HIVE Digital Technologies had a negative return on equity of 23.12% and a negative net margin of 49.21%.

HIVE Digital Technologies Price Performance

HIVE stock traded up $0.11 during trading on Friday, hitting $2.69. The company had a trading volume of 29,542,555 shares, compared to its average volume of 16,380,363. The company has a fifty day moving average price of $3.37 and a two-hundred day moving average price of $2.86. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.10 and a quick ratio of 1.10. HIVE Digital Technologies has a fifty-two week low of $1.73 and a fifty-two week high of $7.84.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on HIVE shares. Chardan Capital assumed 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. Canaccord Genuity Group reaffirmed a “buy” rating and set a $10.00 price objective on shares of HIVE Digital Technologies in a report on Friday, June 5th. Wall Street Zen lowered shares of HIVE Digital Technologies from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 12th. B. Riley Financial upped their target price on shares of HIVE Digital Technologies from $5.00 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, June 3rd. Finally, Cantor Fitzgerald set a $7.00 price target on shares of HIVE Digital Technologies in a research report on Thursday, June 4th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued 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 an average price target of $6.95.

Insider Buying and Selling at HIVE Digital Technologies

In other HIVE Digital Technologies news, Director Dave Perrill sold 175,000 shares of HIVE Digital Technologies stock in a transaction on Friday, June 19th. The stock was sold at an average price of $4.69, for a total transaction of $820,750.00. Following the completion of the transaction, the director directly owned 162,500 shares of the company’s stock, valued at approximately $762,125. This trade represents a 51.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Luke Rossy sold 215,000 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $3.97, for a total transaction of $853,550.00. The SEC filing for this sale provides additional information. Insiders have sold 681,700 shares of company stock worth $2,937,876 over the last three months. Company insiders own 9.44% of the company’s stock.

Hedge Funds Weigh In On HIVE Digital Technologies

Several institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN grew its stake in HIVE Digital Technologies by 553.1% during the fourth quarter. Wells Fargo & Company MN now owns 33,544 shares of the company’s stock worth $87,000 after buying an additional 28,408 shares during the last quarter. Hodges Capital Management Inc. acquired a new stake in shares of HIVE Digital Technologies during the fourth quarter worth approximately $77,000. Janney Montgomery Scott LLC bought a new position in shares of HIVE Digital Technologies in the fourth quarter valued at approximately $106,000. Sender Co & Partners Inc. bought a new position in shares of HIVE Digital Technologies in the third quarter valued at approximately $70,000. Finally, Chesapeake Capital Corp IL acquired a new position in shares of HIVE Digital Technologies in the 3rd quarter worth approximately $117,000. 24.42% of the stock is owned by institutional investors.

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.