HIVE Digital Technologies Target of Unusually Large Options Trading (NASDAQ:HIVE)

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) saw unusually large options trading on Monday. Stock traders acquired 46,465 call options on the company. This represents an increase of approximately 197% compared to the average daily volume of 15,634 call options.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. 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. B. Riley Financial lifted their target price on shares of HIVE Digital Technologies from $5.00 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. Rosenblatt Securities lifted their target price on shares of HIVE Digital Technologies from $5.00 to $5.50 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. Canaccord Genuity Group reiterated a “buy” rating and set a $10.00 target price on shares of HIVE Digital Technologies in a research report on Friday, June 5th. Finally, UBS Group set a $8.00 price target on HIVE Digital Technologies in a research note on Wednesday, June 3rd. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, HIVE Digital Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $6.90.

Insider Buying and Selling at HIVE Digital Technologies

In other news, Director Susan B. Mcgee sold 16,700 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $4.45, for a total transaction of $74,315.00. Following the transaction, the director owned 208,300 shares of the company’s stock, valued at $926,935. This represents a 7.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Luke Rossy sold 215,000 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $3.97, for a total value of $853,550.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 298,400 shares of company stock worth $1,232,684 in the last ninety days.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of HIVE. NewEdge Advisors LLC increased its stake in HIVE Digital Technologies by 1,885.8% in the fourth quarter. NewEdge Advisors LLC now owns 9,929 shares of the company’s stock valued at $26,000 after purchasing an additional 9,429 shares in the last quarter. Ground Swell Capital LLC acquired a new stake in HIVE Digital Technologies in the fourth quarter worth $27,000. Rafferty Asset Management LLC bought a new position in shares of HIVE Digital Technologies during the fourth quarter worth $28,000. State of Wyoming bought a new position in shares of HIVE Digital Technologies during the fourth quarter worth $28,000. Finally, PKS Advisory Services LLC acquired a new position in shares of HIVE Digital Technologies in the 3rd quarter valued at $44,000. Institutional investors and hedge funds own 24.42% of the company’s stock.

HIVE Digital Technologies Trading Up 21.2%

HIVE traded up $0.90 during midday trading on Monday, reaching $5.16. 40,624,210 shares of the company were exchanged, compared to its average volume of 18,171,547. The stock has a market capitalization of $1.37 billion, a P/E ratio of -9.22 and a beta of 3.74. HIVE Digital Technologies has a one year low of $1.60 and a one year high of $7.84. The stock’s 50-day simple moving average is $3.30 and its 200 day simple moving average is $2.82. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.10 and a current ratio of 1.10.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its quarterly earnings results on Tuesday, June 2nd. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.07). The company had revenue of $71.82 million during 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%. As a group, analysts forecast that HIVE Digital Technologies will post -0.74 earnings per share for the current fiscal year.

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.