Insider Selling: HIVE Digital Technologies (NASDAQ:HIVE) COO Sells 215,000 Shares of Stock

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) COO Luke Rossy sold 215,000 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $3.97, for a total value of $853,550.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Luke Rossy also recently made the following trade(s):

• On Wednesday, June 3rd, Luke Rossy sold 66,700 shares of HIVE Digital Technologies stock. The stock was sold at an average price of $4.57, for a total value of $304,819.00.

HIVE Digital Technologies Trading Down 5.6%

Shares of NASDAQ HIVE traded down $0.22 during mid-day trading on Tuesday, reaching $3.74. 32,194,188 shares of the company’s stock were exchanged, compared to its average volume of 17,514,371. The firm has a market capitalization of $989.04 million, a price-to-earnings ratio of -6.68 and a beta of 3.74. 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 Ltd. has a 52-week low of $1.60 and a 52-week high of $7.84. The company’s 50-day moving average is $2.94 and its 200-day moving average is $2.77.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings results on Tuesday, June 2nd. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.07). The business had revenue of $71.82 million for 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%. Analysts expect that HIVE Digital Technologies Ltd. will post -0.74 EPS for the current fiscal year.

Hedge Funds Weigh In On HIVE Digital Technologies

Several hedge funds have recently bought and sold shares of the company. Millennium Management LLC lifted its stake in 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 acquiring an additional 2,536,135 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in HIVE Digital Technologies by 29.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,187,363 shares of the company’s stock worth $13,383,000 after acquiring an additional 1,193,991 shares in the last quarter. Tidal Investments LLC lifted its stake in HIVE Digital Technologies by 15.4% during the 3rd quarter. Tidal Investments LLC now owns 4,771,312 shares of the company’s stock worth $19,228,000 after acquiring an additional 637,679 shares in the last quarter. Two Sigma Investments LP acquired a new position in HIVE Digital Technologies during the 3rd quarter worth about $17,584,000. Finally, Vident Advisory LLC lifted its stake in HIVE Digital Technologies by 33.6% during the 4th quarter. Vident Advisory LLC now owns 4,327,141 shares of the company’s stock worth $11,164,000 after acquiring an additional 1,087,224 shares in the last quarter. Institutional investors and hedge funds own 24.42% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on HIVE shares. Cantor Fitzgerald set a $7.00 price target on HIVE Digital Technologies in a report on Thursday, June 4th. HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of HIVE Digital Technologies in a report on Wednesday, June 3rd. UBS Group set a $8.00 price target on HIVE Digital Technologies in a report on Wednesday, June 3rd. Canaccord Genuity Group reiterated a “buy” rating and set a $10.00 price target on shares of HIVE Digital Technologies in a report on Friday. Finally, Keefe, Bruyette & Woods increased their price target on HIVE Digital Technologies from $3.00 to $5.00 and gave the stock a “market perform” rating in a report on Friday. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $6.90.

HIVE Digital Technologies Company 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.