Susan Mcgee Sells 83,300 Shares of HIVE Digital Technologies (NASDAQ:HIVE) Stock

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Director Susan Mcgee sold 83,300 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $4.24, for a total value of $353,192.00. Following the completion of the sale, the director directly owned 125,000 shares in the company, valued at $530,000. This trade represents a 39.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

HIVE Digital Technologies Price Performance

NASDAQ HIVE traded up $0.64 during trading on Monday, hitting $4.90. 71,523,472 shares of the company’s stock were exchanged, compared to its average volume of 18,457,170. 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 company has a market cap of $1.30 billion, a PE ratio of -8.75 and a beta of 3.74. HIVE Digital Technologies Ltd. has a fifty-two week low of $1.60 and a fifty-two week high of $7.84. The stock’s 50 day moving average price is $3.30 and its two-hundred day moving average price is $2.82.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its quarterly earnings results on Tuesday, June 2nd. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.07). The company had revenue of $71.82 million for the quarter, compared to the consensus estimate of $79.99 million. HIVE Digital Technologies had a negative net margin of 49.21% and a negative return on equity of 23.12%. Research analysts expect that HIVE Digital Technologies Ltd. will post -0.74 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on HIVE shares. Rosenblatt Securities boosted their target price on shares of HIVE Digital Technologies from $5.00 to $5.50 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. Cantor Fitzgerald set a $7.00 price objective on HIVE Digital Technologies in a report on Thursday, June 4th. B. Riley Financial raised their price objective on HIVE Digital Technologies from $5.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. Keefe, Bruyette & Woods boosted their price objective on HIVE Digital Technologies from $3.00 to $5.00 and gave the stock a “market perform” rating in a research report on Friday, June 5th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $7.00 target price on shares of HIVE Digital Technologies in a report on Wednesday, June 3rd. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $6.90.

Hedge Funds Weigh In On HIVE Digital Technologies

Large investors have recently modified their holdings of the business. Millennium Management LLC raised its stake in shares of HIVE Digital Technologies by 58.1% during the fourth quarter. Millennium Management LLC now owns 6,900,828 shares of the company’s stock valued at $17,804,000 after acquiring an additional 2,536,135 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of HIVE Digital Technologies by 29.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,187,363 shares of the company’s stock worth $13,383,000 after purchasing an additional 1,193,991 shares during the last quarter. Tidal Investments LLC increased its holdings in HIVE Digital Technologies by 15.4% in the third quarter. Tidal Investments LLC now owns 4,771,312 shares of the company’s stock valued at $19,228,000 after purchasing an additional 637,679 shares during the period. Two Sigma Investments LP acquired a new stake in HIVE Digital Technologies in the third quarter valued at $17,584,000. Finally, Vident Advisory LLC raised its position 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 purchasing an additional 1,087,224 shares during the last quarter. Institutional investors own 24.42% 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.