HIVE Digital Technologies (NASDAQ:HIVE) Director Sells 12,500 Shares of Stock

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Director Dave Perrill sold 12,500 shares of the stock in a transaction dated Wednesday, October 7th. The stock was sold at an average price of $2.75, for a total value of $34,375.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Dave Perrill also recently made the following trade(s):

• On Wednesday, August 19th, Dave Perrill sold 100,000 shares of HIVE Digital Technologies stock. The stock was sold at an average price of $2.72, for a total value of $272,000.00.

HIVE Digital Technologies Stock Down 6.9%

Shares of NASDAQ:HIVE traded down $0.19 during mid-day trading on Thursday, reaching $2.56. 10,574,595 shares of the stock were exchanged, compared to its average volume of 18,606,260. The stock’s 50 day simple moving average is $2.96 and its 200-day simple moving average is $3.06. HIVE Digital Technologies Ltd. has a one year low of $1.73 and a one year high of $7.84. The company has a market cap of $703.41 million, a P/E ratio of -1.98 and a beta of 3.76. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.85.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings results on Friday, August 14th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.33). The firm had revenue of $79.12 million for the quarter, compared to analyst estimates of $81.72 million. HIVE Digital Technologies had a negative return on equity of 31.98% and a negative net margin of 98.49%.During the same period last year, the company earned $0.18 EPS. As a group, equities research analysts predict that HIVE Digital Technologies Ltd. will post -0.61 EPS for the current year.

Hedge Funds Weigh In On HIVE Digital Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. WINTON GROUP Ltd raised its position in shares of HIVE Digital Technologies by 458.9% in the second quarter. WINTON GROUP Ltd now owns 59,800 shares of the company’s stock valued at $218,000 after purchasing an additional 49,100 shares during the period. Engineers Gate Manager LP acquired a new position in shares of HIVE Digital Technologies in the second quarter valued at approximately $628,000. Integrated Wealth Concepts LLC acquired a new position in HIVE Digital Technologies in the 2nd quarter valued at $130,000. Situational Awareness LP increased its position in HIVE Digital Technologies by 169.3% during the 2nd quarter. Situational Awareness LP now owns 9,133,726 shares of the company’s stock worth $33,247,000 after buying an additional 5,742,179 shares during the period. Finally, TD Waterhouse Canada Inc. grew its stake in shares of HIVE Digital Technologies by 35.9% in the second quarter. TD Waterhouse Canada Inc. now owns 18,476 shares of the company’s stock valued at $64,000 after acquiring an additional 4,877 shares in the last quarter. 24.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

HIVE has been the topic of several analyst reports. Wall Street Zen cut shares of HIVE Digital Technologies from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 12th. Weiss Ratings raised HIVE Digital Technologies from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, August 14th. Chardan Capital reiterated a “buy” rating and set a $7.50 target price on shares of HIVE Digital Technologies in a report on Wednesday, September 16th. Rosenblatt Securities raised their price target on HIVE Digital Technologies from $5.50 to $6.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $10.00 price target on shares of HIVE Digital Technologies in a research report on Tuesday, August 18th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $6.95.

About HIVE Digital Technologies

HIVE Digital Technologies Ltd. is a digital-asset and data-center infrastructure company focused primarily on the mining of Bitcoin. The company operates specialized computing facilities designed to support energy-intensive digital-asset mining and has also been developing capabilities for high-performance computing and artificial-intelligence applications.

HIVE was founded in 2017 and was formerly known as HIVE Blockchain Technologies Ltd. Its operations have historically included data centers in Canada, Sweden and Iceland, and the company has expanded its infrastructure footprint internationally, including through development activities in Paraguay.