BTG Pactual Asset Management US LLC Buys Shares of 750,000 HIVE Digital Technologies Ltd. $HIVE

BTG Pactual Asset Management US LLC purchased a new position in HIVE Digital Technologies Ltd. (NASDAQ:HIVE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 750,000 shares of the company’s stock, valued at approximately $2,730,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. NewEdge Advisors LLC increased its holdings in shares of HIVE Digital Technologies by 1,885.8% in the fourth quarter. NewEdge Advisors LLC now owns 9,929 shares of the company’s stock worth $26,000 after purchasing an additional 9,429 shares during the period. Ground Swell Capital LLC purchased a new stake in HIVE Digital Technologies in the fourth quarter valued at approximately $27,000. Rafferty Asset Management LLC bought a new stake in HIVE Digital Technologies during the fourth quarter valued at approximately $28,000. State of Wyoming bought a new stake in HIVE Digital Technologies during the fourth quarter valued at approximately $28,000. Finally, Verity Asset Management Inc. purchased a new position in HIVE Digital Technologies in the 2nd quarter worth approximately $44,000. 24.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other HIVE Digital Technologies news, Director Dave Perrill sold 175,000 shares of the firm’s stock in a transaction on Friday, June 19th. The shares were sold at an average price of $4.69, for a total value of $820,750.00. Following the sale, the director owned 162,500 shares of the company’s stock, valued at $762,125. This trade represents a 51.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Luke Rossy sold 215,000 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $3.97, for a total transaction of $853,550.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 781,700 shares of company stock valued at $3,209,876 over the last three months. 9.44% of the stock is owned by company insiders.

HIVE Digital Technologies Price Performance

HIVE opened at $2.78 on Monday. HIVE Digital Technologies Ltd. has a 12 month low of $1.73 and a 12 month high of $7.84. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.85. The business’s 50-day moving average price is $3.15 and its 200-day moving average price is $2.89. The company has a market cap of $762.49 million, a P/E ratio of -2.16 and a beta of 3.78.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.33). The company had revenue of $79.12 million during the quarter, compared to the consensus estimate of $81.72 million. HIVE Digital Technologies had a negative net margin of 98.49% and a negative return on equity of 31.98%. During the same quarter in the previous year, the firm posted $0.18 EPS. On average, equities analysts expect that HIVE Digital Technologies Ltd. will post -0.61 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HIVE. HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of HIVE Digital Technologies in a research report on Monday, August 17th. B. Riley Financial increased their target price on HIVE Digital Technologies from $5.00 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, June 3rd. Wall Street Zen lowered HIVE Digital Technologies from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 12th. UBS Group set a $8.00 price objective on HIVE Digital Technologies in a report on Wednesday, June 3rd. Finally, Rosenblatt Securities increased their price target on shares of HIVE Digital Technologies from $5.50 to $6.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $6.95.

HIVE Digital Technologies 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.