HIVE Digital Technologies (NASDAQ:HIVE) Director Sells 125,000 Shares of Stock

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Director Susan Mcgee sold 125,000 shares of the business’s stock in a transaction dated Friday, June 19th. The stock was sold at an average price of $4.25, for a total transaction of $531,250.00. Following the completion of the transaction, the director owned 125,000 shares of the company’s stock, valued at $531,250. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

HIVE Digital Technologies Stock Up 15.0%

Shares of HIVE stock traded up $0.64 during mid-day trading on Monday, hitting $4.90. 71,523,472 shares of the stock traded hands, compared to its average volume of 18,457,170. HIVE Digital Technologies Ltd. has a 52-week low of $1.60 and a 52-week high of $7.84. The stock has a market cap of $1.30 billion, a P/E ratio of -8.75 and a beta of 3.74. 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 is $3.30 and its two-hundred day moving average is $2.82.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its quarterly earnings data 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). The firm had revenue of $71.82 million during the quarter, compared to analysts’ expectations of $79.99 million. HIVE Digital Technologies had a negative return on equity of 23.12% and a negative net margin of 49.21%. Equities analysts predict that HIVE Digital Technologies Ltd. will post -0.74 EPS for the current year.

Wall Street Analysts Forecast Growth

HIVE has been the topic of several analyst reports. Cantor Fitzgerald set a $7.00 price target on shares of HIVE Digital Technologies in a report on Thursday, June 4th. HC Wainwright reissued a “buy” rating and issued a $7.00 price objective on shares of HIVE Digital Technologies in a research report on Wednesday, June 3rd. Keefe, Bruyette & Woods boosted 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. B. Riley Financial upped their target price on HIVE Digital Technologies from $5.00 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, June 3rd. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $10.00 price target on shares of HIVE Digital Technologies in a research note on Friday, June 5th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $6.90.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Alight Capital Management LP acquired a new position in shares of HIVE Digital Technologies in the 3rd quarter valued at $1,310,000. UBS Group AG lifted its position in HIVE Digital Technologies by 3,992.2% during the 4th quarter. UBS Group AG now owns 929,390 shares of the company’s stock worth $2,398,000 after acquiring an additional 906,679 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in HIVE Digital Technologies by 3.5% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 128,801 shares of the company’s stock worth $519,000 after acquiring an additional 4,351 shares during the period. R Squared Ltd purchased a new stake in HIVE Digital Technologies during the 3rd quarter valued at about $45,000. Finally, PKS Advisory Services LLC acquired a new position in shares of HIVE Digital Technologies in the third quarter valued at about $44,000. 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.