HIVE Digital Technologies Ltd. (NASDAQ:HIVE – Get Free Report)’s stock price was up 6.7% during mid-day trading on Tuesday . The company traded as high as $4.25 and last traded at $4.2250. Approximately 16,904,666 shares were traded during trading, a decline of 4% from the average session volume of 17,605,582 shares. The stock had previously closed at $3.96.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on HIVE shares. Northland Securities set a $6.00 price objective on HIVE Digital Technologies in a report on Wednesday, February 18th. Keefe, Bruyette & Woods increased their target price on HIVE Digital Technologies from $3.00 to $5.00 and gave the stock a “market perform” rating in a report on Friday, June 5th. Canaccord Genuity Group restated a “buy” rating and issued a $10.00 price target on shares of HIVE Digital Technologies in a research report on Friday, June 5th. UBS Group set a $8.00 price target on HIVE Digital Technologies in a research note on Wednesday, June 3rd. Finally, Cantor Fitzgerald set a $7.00 price objective on shares of HIVE Digital Technologies in a research report on Thursday, June 4th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $6.90.
Get Our Latest Stock Report on HIVE Digital Technologies
HIVE Digital Technologies Trading Up 7.2%
HIVE Digital Technologies (NASDAQ:HIVE – Get Free Report) last released its earnings results on Tuesday, June 2nd. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.07). The business had revenue of $71.82 million for the quarter, compared to the consensus estimate of $79.99 million. HIVE Digital Technologies had a negative return on equity of 23.12% and a negative net margin of 49.21%. Equities analysts expect that HIVE Digital Technologies Ltd. will post -0.74 earnings per share for the current year.
Insiders Place Their Bets
In related 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 completion of the sale, the director directly owned 208,300 shares in the company, valued at $926,935. This represents a 7.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Luke Rossy sold 215,000 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were 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 a total of 298,400 shares of company stock valued at $1,232,684 in the last three months. 9.44% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in HIVE. NewEdge Advisors LLC boosted its stake in shares of 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 purchasing an additional 9,429 shares in the last quarter. Ground Swell Capital LLC acquired a new position in HIVE Digital Technologies during the 4th quarter worth approximately $27,000. Rafferty Asset Management LLC bought a new position in HIVE Digital Technologies in the 4th quarter valued at approximately $28,000. State of Wyoming bought a new position in HIVE Digital Technologies in the 4th quarter valued at approximately $28,000. Finally, PKS Advisory Services LLC acquired a new stake in HIVE Digital Technologies in the third quarter valued at approximately $44,000. Institutional investors own 24.42% of the company’s stock.
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.
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