HIVE Digital Technologies Ltd. (NASDAQ:HIVE – Get Free Report) was down 8.9% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $2.51 and last traded at $2.5050. 6,771,311 shares were traded during mid-day trading, a decline of 64% from the average session volume of 18,585,453 shares. The stock had previously closed at $2.75.
Specifically, Director Dave Perrill sold 12,500 shares of the stock in a transaction that occurred on Wednesday, October 7th. The stock was sold at an average price of $2.75, for a total transaction of $34,375.00. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Analysts Set New Price Targets
Several equities analysts have weighed in on HIVE shares. Chardan Capital reaffirmed a “buy” rating and issued a $7.50 price objective on shares of HIVE Digital Technologies in a report on Wednesday, September 16th. Rosenblatt Securities increased their target price on HIVE Digital Technologies from $5.50 to $6.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. HC Wainwright restated a “buy” rating and issued a $7.00 price target on shares of HIVE Digital Technologies in a research report on Monday, August 17th. Wall Street Zen downgraded HIVE Digital Technologies from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 12th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $10.00 price objective on shares of HIVE Digital Technologies in a research report on Tuesday, August 18th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $6.95.
HIVE Digital Technologies Trading Down 2.3%
The firm has a market capitalization of $686.93 million, a price-to-earnings ratio of -1.94 and a beta of 3.76. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.96 and a quick ratio of 1.96. The firm’s 50-day simple moving average is $2.94 and its 200 day simple moving average is $3.06.
HIVE Digital Technologies (NASDAQ:HIVE – Get Free Report) last issued its earnings results on Friday, August 14th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.33). HIVE Digital Technologies had a negative net margin of 98.49% and a negative return on equity of 31.98%. The business had revenue of $79.12 million during the quarter, compared to analyst estimates of $81.72 million. During the same period in the prior year, the business posted $0.18 EPS. Equities analysts expect that HIVE Digital Technologies Ltd. will post -0.61 earnings per share for the current year.
Institutional Trading of HIVE Digital Technologies
Several large investors have recently bought and sold shares of HIVE. Situational Awareness LP grew its position in HIVE Digital Technologies by 169.3% in the second quarter. Situational Awareness LP now owns 9,133,726 shares of the company’s stock valued at $33,247,000 after acquiring an additional 5,742,179 shares during the last quarter. Acasta Partners UK LLP bought a new position in shares of HIVE Digital Technologies in the second quarter worth about $3,640,000. BTG Pactual Asset Management US LLC acquired a new stake in shares of HIVE Digital Technologies in the 2nd quarter valued at approximately $2,730,000. Empowered Funds LLC acquired a new stake in shares of HIVE Digital Technologies in the 1st quarter valued at approximately $1,934,000. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in shares of HIVE Digital Technologies by 8.0% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 398,871 shares of the company’s stock valued at $1,452,000 after purchasing an additional 29,641 shares during the last quarter. 24.42% of the stock is owned by institutional investors and hedge funds.
About HIVE Digital Technologies
HIVE Digital Technologies Ltd. is a digital-asset and data-center infrastructure company focused primarily on the mining of Bitcoin. The company operates specialized computing facilities designed to support energy-intensive digital-asset mining and has also been developing capabilities for high-performance computing and artificial-intelligence applications.
HIVE was founded in 2017 and was formerly known as HIVE Blockchain Technologies Ltd. Its operations have historically included data centers in Canada, Sweden and Iceland, and the company has expanded its infrastructure footprint internationally, including through development activities in Paraguay.
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