HIVE Digital Technologies Ltd. (NASDAQ:HIVE – Get Free Report) shares saw unusually-strong trading volume on Monday . Approximately 18,430,958 shares were traded during trading, an increase of 2% from the previous session’s volume of 18,006,168 shares.The stock last traded at $5.2520 and had previously closed at $4.26.
Analyst Upgrades and Downgrades
HIVE has been the topic of several recent analyst reports. B. Riley Financial lifted their target price on HIVE Digital Technologies from $5.00 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. 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. UBS Group set a $8.00 price target on HIVE Digital Technologies in a report on Wednesday, June 3rd. Cantor Fitzgerald set a $7.00 price objective on HIVE Digital Technologies in a research report on Thursday, June 4th. Finally, Rosenblatt Securities increased their price objective on HIVE Digital Technologies from $5.00 to $5.50 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, HIVE Digital Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $6.90.
Get Our Latest Analysis on HIVE Digital Technologies
HIVE Digital Technologies Price Performance
HIVE Digital Technologies (NASDAQ:HIVE – Get Free Report) last issued its quarterly earnings results on Tuesday, June 2nd. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $71.82 million during the quarter, compared to analyst estimates of $79.99 million. On average, equities research analysts predict that HIVE Digital Technologies Ltd. will post -0.74 EPS for the current year.
Insider Transactions at HIVE Digital Technologies
In related news, Director Susan B. Mcgee sold 16,700 shares of HIVE Digital Technologies stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $4.45, for a total value of $74,315.00. Following the sale, the director owned 208,300 shares of the company’s stock, valued at approximately $926,935. The trade was a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Luke Rossy sold 215,000 shares of the 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 disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 298,400 shares of company stock worth $1,232,684.
Hedge Funds Weigh In On HIVE Digital Technologies
Hedge funds and other institutional investors have recently made changes to their positions in the company. Millennium Management LLC increased its holdings in 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 last quarter. Charles Schwab Investment Management Inc. lifted its stake in HIVE Digital Technologies by 29.9% in the fourth 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 last quarter. Tidal Investments LLC grew its position in shares of HIVE Digital Technologies by 15.4% in the 3rd quarter. Tidal Investments LLC now owns 4,771,312 shares of the company’s stock valued at $19,228,000 after acquiring an additional 637,679 shares during the period. Two Sigma Investments LP bought a new position in shares of HIVE Digital Technologies in the 3rd quarter valued at about $17,584,000. Finally, Vident Advisory LLC increased its stake in shares of 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 purchasing an additional 1,087,224 shares during the last quarter. 24.42% of the stock is owned by institutional investors.
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.
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