Empowered Funds LLC Invests $1.93 Million in HIVE Digital Technologies Ltd. $HIVE

Empowered Funds LLC bought a new position in HIVE Digital Technologies Ltd. (NASDAQ:HIVE) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 1,017,996 shares of the company’s stock, valued at approximately $1,934,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. SBI Securities Co. Ltd. grew its holdings in HIVE Digital Technologies by 23.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 26,148 shares of the company’s stock valued at $67,000 after purchasing an additional 4,964 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in shares of HIVE Digital Technologies by 98.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 13,996 shares of the company’s stock worth $36,000 after buying an additional 6,956 shares during the period. Captrust Financial Advisors raised its stake in shares of HIVE Digital Technologies by 10.9% in the fourth quarter. Captrust Financial Advisors now owns 73,849 shares of the company’s stock worth $191,000 after buying an additional 7,271 shares during the period. Invesco Ltd. raised its stake in shares of HIVE Digital Technologies by 6.4% in the second quarter. Invesco Ltd. now owns 152,782 shares of the company’s stock worth $275,000 after buying an additional 9,241 shares during the period. Finally, NewEdge Advisors LLC lifted its position in shares of HIVE Digital Technologies by 1,885.8% during 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. 24.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at HIVE Digital Technologies

In other HIVE Digital Technologies news, 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 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 trade represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Dave Perrill sold 175,000 shares of HIVE Digital Technologies stock in a transaction that occurred on Friday, June 19th. The stock was sold at an average price of $4.69, for a total value of $820,750.00. Following the completion of the sale, the director directly owned 162,500 shares in the company, valued at approximately $762,125. The trade was a 51.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 681,700 shares of company stock worth $2,937,876 in the last quarter. 9.44% of the stock is owned by corporate insiders.

HIVE Digital Technologies Stock Down 2.8%

Shares of HIVE stock opened at $2.76 on Friday. The company’s fifty day simple moving average is $3.55 and its two-hundred day simple moving average is $2.88. 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 $741.42 million, a P/E ratio of -4.93 and a beta of 3.78. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.10.

HIVE Digital Technologies (NASDAQ:HIVE) last issued 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). HIVE Digital Technologies had a negative net margin of 49.21% and a negative return on equity of 23.12%. The firm had revenue of $71.82 million for the quarter, compared to analysts’ expectations of $79.99 million. Analysts predict that HIVE Digital Technologies Ltd. will post -0.78 EPS for the current fiscal year.

Analyst Ratings Changes

HIVE has been the subject of a number of recent research reports. Wall Street Zen downgraded HIVE Digital Technologies from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 12th. Canaccord Genuity Group restated a “buy” rating and set a $10.00 target price on shares of HIVE Digital Technologies in a research note on Friday, June 5th. Cantor Fitzgerald set a $7.00 price target on shares of HIVE Digital Technologies in a report on Thursday, June 4th. B. Riley Financial upped their price target on shares of HIVE Digital Technologies from $5.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Finally, 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. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, HIVE Digital Technologies presently has a consensus rating of “Moderate Buy” and an average target price 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.