Alight Capital Management LP Sells 175,000 Shares of HIVE Digital Technologies Ltd. $HIVE

Alight Capital Management LP decreased its holdings in shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) by 53.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 150,000 shares of the company’s stock after selling 175,000 shares during the period. Alight Capital Management LP’s holdings in HIVE Digital Technologies were worth $387,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. UBS Group AG boosted its stake in HIVE Digital Technologies by 3,992.2% during the fourth quarter. UBS Group AG now owns 929,390 shares of the company’s stock valued at $2,398,000 after buying an additional 906,679 shares during the period. SBI Securities Co. Ltd. boosted its stake in HIVE Digital Technologies by 23.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 26,148 shares of the company’s stock valued at $67,000 after buying an additional 4,964 shares during the period. Ground Swell Capital LLC bought a new stake in HIVE Digital Technologies during the fourth quarter valued at $27,000. Chesapeake Capital Corp IL boosted its stake in HIVE Digital Technologies by 36.5% during the fourth quarter. Chesapeake Capital Corp IL now owns 39,736 shares of the company’s stock valued at $103,000 after buying an additional 10,636 shares during the period. Finally, WMG Financial Advisors LLC boosted its stake in HIVE Digital Technologies by 400.0% during the fourth quarter. WMG Financial Advisors LLC now owns 50,000 shares of the company’s stock valued at $129,000 after buying an additional 40,000 shares during the period. Institutional investors own 24.42% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on HIVE. New Street Research set a $5.00 price target on HIVE Digital Technologies in a research note on Thursday, February 19th. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target on shares of HIVE Digital Technologies in a research note on Wednesday, June 3rd. B. Riley Financial lifted their price target on HIVE Digital Technologies from $5.00 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $10.00 price target on shares of HIVE Digital Technologies in a research note on Friday, June 5th. Finally, Keefe, Bruyette & Woods lifted their price target 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. 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.90.

HIVE Digital Technologies Stock Down 2.5%

HIVE opened at $3.97 on Thursday. The company has a market cap of $1.05 billion, a P/E ratio of -7.09 and a beta of 3.74. The business’s 50-day moving average price is $3.21 and its 200-day moving average price is $2.80. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.10. HIVE Digital Technologies Ltd. has a 12 month low of $1.60 and a 12 month high of $7.84.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings data on Tuesday, June 2nd. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.07). The company 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%. On average, equities analysts expect that HIVE Digital Technologies Ltd. will post -0.74 EPS for the current year.

Insider Activity

In other news, Director Susan B. Mcgee sold 16,700 shares of HIVE Digital Technologies stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $4.45, for a total value of $74,315.00. Following the transaction, the director owned 208,300 shares in the company, valued at approximately $926,935. The trade was a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Luke Rossy sold 215,000 shares of HIVE Digital Technologies stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $3.97, for a total value of $853,550.00. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 298,400 shares of company stock worth $1,232,684. Company insiders own 9.44% of the company’s stock.

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.