Insider Selling: 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 stock in a transaction on Friday, June 19th. The stock was sold at an average price of $4.25, for a total value of $531,250.00. Following the completion of the sale, the director owned 125,000 shares in the company, valued at approximately $531,250. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

HIVE Digital Technologies Trading Up 15.0%

Shares of HIVE traded up $0.64 during trading hours on Monday, reaching $4.90. 71,523,472 shares of the company traded hands, compared to its average volume of 18,457,170. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of -8.75 and a beta of 3.74. HIVE Digital Technologies Ltd. has a 12-month low of $1.60 and a 12-month high of $7.84. 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’s fifty day moving average price is $3.30 and its 200 day moving average price is $2.82.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its quarterly earnings results on Tuesday, June 2nd. The company reported ($0.28) EPS for the quarter, missing the consensus estimate 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 company had revenue of $71.82 million during the quarter, compared to analysts’ expectations of $79.99 million. Sell-side analysts forecast that HIVE Digital Technologies Ltd. will post -0.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on HIVE. HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of HIVE Digital Technologies in a research report on Wednesday, June 3rd. Cantor Fitzgerald set a $7.00 price objective on HIVE Digital Technologies in a research note on Thursday, June 4th. Keefe, Bruyette & Woods raised their price objective on HIVE Digital Technologies from $3.00 to $5.00 and gave the stock a “market perform” rating in a report on Friday, June 5th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $10.00 target price on shares of HIVE Digital Technologies in a research report on Friday, June 5th. Finally, UBS Group set a $8.00 target price on HIVE Digital Technologies in a report on Wednesday, June 3rd. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $6.90.

Hedge Funds Weigh In On HIVE Digital Technologies

Several institutional investors have recently bought and sold shares of HIVE. NewEdge Advisors LLC lifted its holdings in HIVE Digital Technologies by 1,885.8% during the fourth quarter. NewEdge Advisors LLC now owns 9,929 shares of the company’s stock worth $26,000 after buying an additional 9,429 shares during the period. Ground Swell Capital LLC purchased a new position in shares of HIVE Digital Technologies in the 4th quarter valued at $27,000. Private Advisor Group LLC purchased a new position in shares of HIVE Digital Technologies in the 1st quarter valued at $27,000. Rafferty Asset Management LLC bought a new position in shares of HIVE Digital Technologies in the 4th quarter worth $28,000. Finally, State of Wyoming bought a new position in shares of HIVE Digital Technologies in the 4th quarter worth $28,000. 24.42% of the stock is owned by hedge funds and other institutional investors.

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.