HIVE Digital Technologies (NASDAQ:HIVE – Get Free Report) was upgraded by equities researchers at Chardan Capital to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.
A number of other research firms also recently issued reports on HIVE. Keefe, Bruyette & Woods raised their price objective on shares of HIVE Digital Technologies from $3.00 to $5.00 and gave the stock a “market perform” rating in a report on Friday, June 5th. Weiss Ratings cut shares of HIVE Digital Technologies from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, June 15th. Cantor Fitzgerald set a $7.00 target price on shares of HIVE Digital Technologies in a report on Thursday, June 4th. HC Wainwright reiterated a “buy” rating and issued a $7.00 price target on shares of HIVE Digital Technologies in a research report on Wednesday, June 3rd. Finally, Wall Street Zen cut shares of HIVE Digital Technologies from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 12th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, HIVE Digital Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.95.
Read Our Latest Stock Analysis on HIVE Digital Technologies
HIVE Digital Technologies Trading Down 3.7%
HIVE Digital Technologies (NASDAQ:HIVE – Get Free Report) last released its quarterly earnings results on Tuesday, June 2nd. The company reported ($0.28) earnings per share (EPS) 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 the consensus estimate of $79.99 million. Analysts expect that HIVE Digital Technologies will post -0.74 EPS for the current year.
Insiders Place Their Bets
In other news, COO Luke Rossy sold 215,000 shares of HIVE Digital Technologies stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $3.97, for a total transaction of $853,550.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Susan B. Mcgee sold 125,000 shares of the business’s stock in a transaction that occurred on Friday, June 19th. The shares were sold at an average price of $4.25, for a total value of $531,250.00. Following the transaction, the director owned 125,000 shares of the company’s stock, valued at approximately $531,250. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 681,700 shares of company stock worth $2,937,876 over the last quarter.
Institutional Investors Weigh In On HIVE Digital Technologies
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC lifted 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 valued at $17,804,000 after purchasing an additional 2,536,135 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of 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 worth $13,383,000 after purchasing an additional 1,193,991 shares during the period. Tidal Investments LLC increased its stake in shares of HIVE Digital Technologies by 15.4% in the third quarter. Tidal Investments LLC now owns 4,771,312 shares of the company’s stock worth $19,228,000 after purchasing an additional 637,679 shares in the last quarter. Two Sigma Investments LP purchased a new stake in shares of HIVE Digital Technologies in the third quarter worth $17,584,000. Finally, Vident Advisory LLC raised its position 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 valued at $11,164,000 after purchasing an additional 1,087,224 shares during the period. 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.
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