HIVE Digital Technologies (NASDAQ:HIVE) Coverage Initiated by Analysts at Chardan Capital

Chardan Capital began coverage on shares of HIVE Digital Technologies (NASDAQ:HIVE) in a research report report published on Monday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $7.50 price target on the stock.

A number of other brokerages also recently commented on HIVE. Cantor Fitzgerald set a $7.00 target price on HIVE Digital Technologies in a report on Thursday, June 4th. Weiss Ratings downgraded shares of HIVE Digital Technologies from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, June 15th. HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of HIVE Digital Technologies in a report on Wednesday, June 3rd. 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. Finally, B. Riley Financial lifted their target price on shares of HIVE Digital Technologies from $5.00 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, June 3rd. Seven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $6.95.

HIVE Digital Technologies Stock Down 3.7%

Shares of NASDAQ:HIVE opened at $2.84 on Monday. The stock’s 50-day moving average is $3.73 and its 200 day moving average is $2.91. The company has a market cap of $751.04 million, a PE ratio of -5.07 and a beta of 3.77. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.10 and a quick ratio of 1.10. HIVE Digital Technologies has a 1 year low of $1.73 and a 1 year high of $7.84.

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

Insiders Place Their Bets

In related news, Director Dave Perrill sold 175,000 shares of HIVE Digital Technologies stock in a transaction dated Friday, June 19th. The shares were sold at an average price of $4.69, for a total transaction of $820,750.00. Following the completion of the transaction, the director directly 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 SEC, which is available at this hyperlink. Also, Director Susan B. Mcgee sold 125,000 shares of the business’s stock in a transaction dated Friday, June 19th. The stock was sold at an average price of $4.25, for a total transaction of $531,250.00. Following the sale, the director directly owned 125,000 shares in the company, valued at $531,250. The trade was a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 681,700 shares of company stock worth $2,937,876.

Institutional Trading of HIVE Digital Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Heck Capital Advisors LLC purchased a new position in HIVE Digital Technologies during the second quarter valued at $67,000. Hennion & Walsh Asset Management Inc. increased its holdings in shares of HIVE Digital Technologies by 8.0% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 398,871 shares of the company’s stock valued at $1,452,000 after acquiring an additional 29,641 shares in the last quarter. Acasta Partners UK LLP purchased a new position in shares of HIVE Digital Technologies in the 2nd quarter worth about $3,640,000. Stillwater Private Wealth LLC bought a new position in HIVE Digital Technologies in the 1st quarter worth about $38,000. Finally, Situational Awareness LP purchased a new stake in HIVE Digital Technologies during the 1st quarter valued at about $6,444,000. Hedge funds and other 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.