HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Receives $6.90 Average PT from Brokerages

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) has been given an average rating of “Moderate Buy” by the nine research firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $6.90.

Several brokerages have issued reports on HIVE. Cantor Fitzgerald set a $7.00 price objective on shares of HIVE Digital Technologies in a research note on Thursday, June 4th. Wall Street Zen upgraded HIVE Digital Technologies from a “strong sell” rating to a “sell” rating in a report on Saturday. HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of HIVE Digital Technologies in a report on Wednesday, June 3rd. UBS Group set a $8.00 target price on HIVE Digital Technologies in a research note on Wednesday, June 3rd. Finally, Rosenblatt Securities lifted their target price on HIVE Digital Technologies from $5.00 to $5.50 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd.

HIVE Digital Technologies Trading Down 5.9%

Shares of HIVE stock opened at $3.18 on Wednesday. The company has a market cap of $840.95 million, a PE ratio of -5.68 and a beta of 3.77. HIVE Digital Technologies has a 1 year low of $1.73 and a 1 year high of $7.84. The stock’s 50 day simple moving average is $3.63 and its two-hundred day simple moving average is $2.88. 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 (NASDAQ:HIVE) last posted its quarterly earnings data 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 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 predict that HIVE Digital Technologies will post -0.74 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Luke Rossy sold 215,000 shares of HIVE Digital Technologies stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $3.97, for a total value of $853,550.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Dave Perrill sold 175,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the director owned 162,500 shares of the company’s stock, valued at approximately $762,125. This trade represents a 51.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 681,700 shares of company stock valued at $2,937,876 over the last three months.

Institutional Trading of HIVE Digital Technologies

Several large investors have recently bought and sold shares of HIVE. Millennium Management LLC lifted 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 worth $17,804,000 after buying an additional 2,536,135 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of 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 acquiring an additional 1,193,991 shares during the period. Tidal Investments LLC raised its stake in HIVE Digital Technologies by 15.4% in the 3rd quarter. Tidal Investments LLC now owns 4,771,312 shares of the company’s stock worth $19,228,000 after acquiring an additional 637,679 shares during the last quarter. Two Sigma Investments LP purchased a new position in HIVE Digital Technologies in the 3rd quarter worth $17,584,000. Finally, Vident Advisory LLC lifted 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 acquiring an additional 1,087,224 shares during the period. Hedge funds and other institutional investors own 24.42% of the company’s stock.

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.