HIVE Digital Technologies (NASDAQ:HIVE) COO Luke Rossy Sells 215,000 Shares of Stock

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) COO Luke Rossy sold 215,000 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $3.97, for a total value of $853,550.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Luke Rossy also recently made the following trade(s):

• On Wednesday, June 3rd, Luke Rossy sold 66,700 shares of HIVE Digital Technologies stock. The stock was sold at an average price of $4.57, for a total value of $304,819.00.

HIVE Digital Technologies Stock Down 5.6%

HIVE stock opened at $3.74 on Wednesday. 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 firm has a market capitalization of $989.04 million, a PE ratio of -6.68 and a beta of 3.74. HIVE Digital Technologies Ltd. has a 1-year low of $1.60 and a 1-year high of $7.84. The business’s 50 day simple moving average is $2.98 and its 200 day simple moving average is $2.77.

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 business had revenue of $71.82 million for the quarter, compared to analyst estimates of $79.99 million. HIVE Digital Technologies had a negative return on equity of 23.12% and a negative net margin of 49.21%. As a group, research analysts anticipate that HIVE Digital Technologies Ltd. will post -0.74 EPS for the current year.

Analyst Upgrades and Downgrades

HIVE has been the topic of a number of recent analyst reports. Rosenblatt Securities boosted their target price on HIVE Digital Technologies from $5.00 to $5.50 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. Northland Securities set a $6.00 target price on HIVE Digital Technologies in a report on Wednesday, February 18th. Cantor Fitzgerald set a $7.00 target price on HIVE Digital Technologies in a report on Thursday, June 4th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of HIVE Digital Technologies in a report on Monday, May 11th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $10.00 price objective on shares of HIVE Digital Technologies in a report on Friday, June 5th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $6.90.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HIVE. NewEdge Advisors LLC grew its holdings in HIVE Digital Technologies by 1,885.8% in the 4th quarter. NewEdge Advisors LLC now owns 9,929 shares of the company’s stock valued at $26,000 after buying an additional 9,429 shares in the last quarter. Ground Swell Capital LLC acquired a new position in HIVE Digital Technologies in the 4th quarter valued at $27,000. Private Advisor Group LLC acquired a new stake in shares of HIVE Digital Technologies during the 1st quarter worth $27,000. Rafferty Asset Management LLC acquired a new stake in shares of HIVE Digital Technologies during the 4th quarter worth $28,000. Finally, State of Wyoming acquired a new stake in shares of HIVE Digital Technologies during the 4th quarter worth $28,000. 24.42% of the stock is owned by institutional investors and hedge funds.

About HIVE Digital Technologies

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.