HIVE Digital Technologies Target of Unusually Large Options Trading (NASDAQ:HIVE)

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) was the target of some unusual options trading on Monday. Stock traders purchased 46,465 call options on the company. This represents an increase of 197% compared to the average volume of 15,634 call options.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on HIVE shares. B. Riley Financial raised their price objective on shares of HIVE Digital Technologies from $5.00 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. UBS Group set a $8.00 target price on shares of HIVE Digital Technologies in a research note on Wednesday, June 3rd. Canaccord Genuity Group restated a “buy” rating and set a $10.00 price target on shares of HIVE Digital Technologies in a research note on Friday, June 5th. Cantor Fitzgerald set a $7.00 price target on shares of HIVE Digital Technologies in a research note on Thursday, June 4th. Finally, HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of HIVE Digital Technologies in a research note on Wednesday, June 3rd. 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 company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $6.90.

HIVE Digital Technologies Price Performance

Shares of NASDAQ:HIVE traded up $0.90 on Monday, hitting $5.16. The stock had a trading volume of 40,624,210 shares, compared to its average volume of 18,171,547. The firm’s 50 day moving average price is $3.30 and its 200-day moving average price is $2.82. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.10 and a current ratio of 1.10. HIVE Digital Technologies has a twelve month low of $1.60 and a twelve month high of $7.84. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of -9.22 and a beta of 3.74.

HIVE Digital Technologies (NASDAQ:HIVE) last announced 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 return on equity of 23.12% and a negative net margin of 49.21%.The firm had revenue of $71.82 million for the quarter, compared to analyst estimates of $79.99 million. On average, equities research analysts predict that HIVE Digital Technologies will post -0.74 earnings per share for the current year.

Insiders Place Their Bets

In other HIVE Digital Technologies news, COO Luke Rossy sold 215,000 shares of HIVE Digital Technologies 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Susan B. Mcgee sold 16,700 shares of HIVE Digital Technologies stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $4.45, for a total transaction of $74,315.00. Following the sale, the director owned 208,300 shares in the company, valued at $926,935. This represents a 7.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 298,400 shares of company stock valued at $1,232,684 over the last 90 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Alight Capital Management LP bought a new stake in shares of HIVE Digital Technologies during the third quarter valued at approximately $1,310,000. UBS Group AG increased its holdings in shares of HIVE Digital Technologies by 3,992.2% in the fourth quarter. UBS Group AG now owns 929,390 shares of the company’s stock valued at $2,398,000 after purchasing an additional 906,679 shares in the last quarter. R Squared Ltd bought a new position in HIVE Digital Technologies in the 3rd quarter worth approximately $45,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in HIVE Digital Technologies by 3.5% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 128,801 shares of the company’s stock worth $519,000 after purchasing an additional 4,351 shares during the last quarter. Finally, PKS Advisory Services LLC acquired a new position in HIVE Digital Technologies during the 3rd quarter worth $44,000. 24.42% of the stock is owned by institutional investors and hedge funds.

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.