Tidal Investments LLC Has $11.93 Million Stake in HIVE Digital Technologies Ltd. $HIVE

Tidal Investments LLC trimmed its position in shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) by 28.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,278,659 shares of the company’s stock after selling 1,295,485 shares during the period. Tidal Investments LLC’s holdings in HIVE Digital Technologies were worth $11,934,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Situational Awareness LP increased its stake in shares of HIVE Digital Technologies by 169.3% in the second quarter. Situational Awareness LP now owns 9,133,726 shares of the company’s stock worth $33,247,000 after purchasing an additional 5,742,179 shares during the period. Millennium Management LLC boosted its stake in HIVE Digital Technologies by 58.1% during the 4th quarter. Millennium Management LLC now owns 6,900,828 shares of the company’s stock valued at $17,804,000 after purchasing an additional 2,536,135 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in HIVE Digital Technologies by 29.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,187,363 shares of the company’s stock valued at $13,383,000 after buying an additional 1,193,991 shares during the last quarter. Two Sigma Investments LP acquired a new stake in HIVE Digital Technologies in the 3rd quarter valued at approximately $17,584,000. Finally, Vident Advisory LLC increased its position in HIVE Digital Technologies by 33.6% in the 4th quarter. Vident Advisory LLC now owns 4,327,141 shares of the company’s stock worth $11,164,000 after buying an additional 1,087,224 shares during the period. 24.42% of the stock is owned by institutional investors and hedge funds.

HIVE Digital Technologies Trading Up 1.3%

Shares of HIVE stock opened at $3.03 on Friday. HIVE Digital Technologies Ltd. has a 52-week low of $1.73 and a 52-week high of $7.84. The stock has a market cap of $829.86 million, a price-to-earnings ratio of -2.35 and a beta of 3.75. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.96 and a current ratio of 1.96. The firm has a fifty day moving average of $2.96 and a 200-day moving average of $2.94.

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

Insider Buying and Selling

In other news, Director Dave Perrill sold 100,000 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $2.72, for a total value of $272,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Susan B. 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 value of $531,250.00. Following the transaction, the director owned 125,000 shares of the company’s stock, valued at $531,250. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 483,300 shares of company stock worth $1,977,192 over the last ninety days. Company insiders own 9.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Rosenblatt Securities upped their price target on HIVE Digital Technologies from $5.50 to $6.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Wall Street Zen lowered shares of HIVE Digital Technologies from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 12th. Weiss Ratings upgraded shares of HIVE Digital Technologies from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, August 14th. Keefe, Bruyette & Woods upped their target price on shares of HIVE Digital Technologies from $3.00 to $5.00 and gave the company a “market perform” rating in a research note on Friday, June 5th. Finally, UBS Group set a $8.00 price target on shares of HIVE Digital Technologies in a report on Wednesday, June 3rd. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $6.95.

HIVE Digital Technologies 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.