Key Points
- HIVE Digital Technologies COO Luke Rossy sold 215,000 shares on Monday, June 8, at an average price of $3.97, for total proceeds of about $853,550. He also sold 66,700 shares earlier in the month on June 3.
- The company recently missed Wall Street’s expectations for its latest quarter, reporting EPS of -$0.28 versus a -$0.21 estimate and revenue of $71.82 million versus $79.99 million expected.
- Despite the weak results, analysts remain mostly constructive, with a consensus rating of “Moderate Buy” and an average price target of $6.90, though one firm currently rates the stock a sell.
HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Get Free Report) COO Luke Rossy sold 215,000 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $3.97, for a total value of $853,550.00. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Luke Rossy also recently made the following trade(s):
- On Wednesday, June 3rd, Luke Rossy sold 66,700 shares of HIVE Digital Technologies stock. The stock was sold at an average price of $4.57, for a total value of $304,819.00.
HIVE Digital Technologies Stock Performance
HIVE opened at $3.74 on Wednesday. The firm has a market cap of $989.04 million, a P/E ratio of -6.68 and a beta of 3.74. HIVE Digital Technologies Ltd. has a 52-week low of $1.60 and a 52-week high of $7.84. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.10 and a current ratio of 1.10. The business's fifty day moving average is $2.98 and its 200-day moving average is $2.77.
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 (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.07). The company had revenue of $71.82 million for the quarter, compared to analyst estimates of $79.99 million. HIVE Digital Technologies had a negative return on equity of 23.12% and a negative net margin of 49.21%. Sell-side analysts expect that HIVE Digital Technologies Ltd. will post -0.74 EPS for the current fiscal year.
Analyst Ratings Changes
Several brokerages recently weighed in on HIVE. HC Wainwright restated a "buy" rating and set a $7.00 price objective on shares of HIVE Digital Technologies in a research report on Wednesday, June 3rd. Canaccord Genuity Group restated a "buy" rating and set a $10.00 price objective on shares of HIVE Digital Technologies in a research report on Friday, June 5th. Northland Securities set a $6.00 price objective on HIVE Digital Technologies in a research report on Wednesday, February 18th. Weiss Ratings restated a "sell (d)" rating on shares of HIVE Digital Technologies in a research report on Monday, May 11th. Finally, Cantor Fitzgerald set a $7.00 price objective on HIVE Digital Technologies in a research report on Thursday, June 4th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $6.90.
Read Our Latest Report on HIVE
Institutional Trading of HIVE Digital Technologies
Several institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC lifted its position in shares of HIVE Digital Technologies by 58.1% during the 4th 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. raised its position 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 purchasing an additional 1,193,991 shares during the last quarter. Tidal Investments LLC raised its position in HIVE Digital Technologies by 15.4% in the third quarter. Tidal Investments LLC now owns 4,771,312 shares of the company's stock valued at $19,228,000 after purchasing an additional 637,679 shares during the last quarter. Two Sigma Investments LP bought a new position in HIVE Digital Technologies in the third quarter valued at about $17,584,000. Finally, Vident Advisory LLC raised its position in HIVE Digital Technologies by 33.6% in the fourth 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 last quarter. 24.42% of the stock is currently owned by institutional investors.
HIVE Digital Technologies Company Profile
(
Get Free Report)
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.
Further Reading
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