Insider Selling: HIVE Digital Technologies (NASDAQ:HIVE) Director Sells $531,250.00 in Stock

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Director Susan Mcgee sold 125,000 shares of the firm’s stock in a transaction that occurred on Friday, June 19th. The stock was sold at an average price of $4.25, for a total transaction of $531,250.00. Following the completion of the transaction, the director owned 125,000 shares in the company, valued at $531,250. This represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

HIVE Digital Technologies Stock Down 10.6%

Shares of NASDAQ HIVE opened at $4.14 on Thursday. The firm’s fifty day moving average is $3.45 and its 200 day moving average is $2.84. HIVE Digital Technologies Ltd. has a 52 week low of $1.70 and a 52 week high of $7.84. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.10. The company has a market cap of $1.09 billion, a price-to-earnings ratio of -7.39 and a beta of 3.74.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its earnings results on Tuesday, June 2nd. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.07). The firm had revenue of $71.82 million for 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 research analysts expect that HIVE Digital Technologies Ltd. will post -0.74 earnings per share for the current year.

Institutional Investors Weigh In On HIVE Digital Technologies

Hedge funds have recently made changes to their positions in the company. Alight Capital Management LP bought a new position in shares of HIVE Digital Technologies in the 3rd quarter worth about $1,310,000. 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 worth $2,398,000 after acquiring an additional 906,679 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in HIVE Digital Technologies by 3.5% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 128,801 shares of the company’s stock worth $519,000 after acquiring an additional 4,351 shares in the last quarter. R Squared Ltd purchased a new stake in HIVE Digital Technologies in the third quarter worth about $45,000. Finally, PKS Advisory Services LLC purchased a new stake in HIVE Digital Technologies in the third quarter worth about $44,000. 24.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

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.