Insider Selling: HIVE Digital Technologies (NASDAQ:HIVE) Director Sells $820,750.00 in Stock

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Director Dave Perrill sold 175,000 shares of the company’s stock in a transaction on Friday, June 19th. The shares were sold at an average price of $4.69, for a total transaction of $820,750.00. Following the completion of the sale, the director directly owned 162,500 shares in the company, valued at $762,125. This trade represents a 51.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

HIVE Digital Technologies Stock Performance

Shares of HIVE stock opened at $3.79 on Friday. HIVE Digital Technologies Ltd. has a 52-week low of $1.70 and a 52-week high of $7.84. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.10. The stock has a market cap of $1.00 billion, a PE ratio of -6.77 and a beta of 3.74. The business has a 50-day simple moving average of $3.47 and a 200-day simple moving average of $2.85.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings results on Tuesday, June 2nd. The company reported ($0.28) 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 firm had revenue of $71.82 million for the quarter, compared to analyst estimates of $79.99 million. On average, equities analysts expect that HIVE Digital Technologies Ltd. will post -0.74 EPS for the current year.

Institutional Investors Weigh In On HIVE Digital Technologies

Several institutional investors have recently bought and sold shares of HIVE. NewEdge Advisors LLC raised its holdings in shares of HIVE Digital Technologies by 1,885.8% during the fourth quarter. NewEdge Advisors LLC now owns 9,929 shares of the company’s stock valued at $26,000 after acquiring an additional 9,429 shares during the last quarter. Ground Swell Capital LLC acquired a new stake in shares of HIVE Digital Technologies in the fourth quarter worth approximately $27,000. Private Advisor Group LLC acquired a new stake in shares of HIVE Digital Technologies in the first quarter worth approximately $27,000. Rafferty Asset Management LLC purchased a new stake in shares of HIVE Digital Technologies during the fourth quarter worth approximately $28,000. Finally, State of Wyoming purchased a new stake in shares of HIVE Digital Technologies during the fourth quarter worth approximately $28,000. 24.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HIVE has been the topic of several research analyst reports. Rosenblatt Securities raised their price objective on HIVE Digital Technologies from $5.00 to $5.50 and gave the company a “buy” rating in a report on Wednesday, June 3rd. Weiss Ratings downgraded HIVE Digital Technologies from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, June 15th. Cantor Fitzgerald set a $7.00 target price on HIVE Digital Technologies in a research report on Thursday, June 4th. Canaccord Genuity Group reissued a “buy” rating and issued a $10.00 price target on shares of HIVE Digital Technologies in a research note on Friday, June 5th. Finally, Keefe, Bruyette & Woods boosted their price target 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. 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $6.90.

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.