Renaissance Technologies LLC Sells 1,966,907 Shares of HIVE Digital Technologies Ltd. $HIVE

Renaissance Technologies LLC lessened its holdings in HIVE Digital Technologies Ltd. (NASDAQ:HIVE) by 46.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,263,293 shares of the company’s stock after selling 1,966,907 shares during the period. Renaissance Technologies LLC’s holdings in HIVE Digital Technologies were worth $4,300,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of HIVE. CI Investments Inc. raised its stake in HIVE Digital Technologies by 37.9% in the first quarter. CI Investments Inc. now owns 54,429 shares of the company’s stock worth $103,000 after buying an additional 14,964 shares in the last quarter. Chicago Partners Investment Group LLC lifted its holdings in HIVE Digital Technologies by 30.3% during the first quarter. Chicago Partners Investment Group LLC now owns 205,322 shares of the company’s stock worth $390,000 after buying an additional 47,711 shares during the period. Private Advisor Group LLC bought a new stake in HIVE Digital Technologies during the 1st quarter valued at $27,000. WMG Financial Advisors LLC increased its holdings in shares of HIVE Digital Technologies by 150.0% in the 1st quarter. WMG Financial Advisors LLC now owns 125,000 shares of the company’s stock valued at $238,000 after acquiring an additional 75,000 shares during the period. Finally, Janney Montgomery Scott LLC increased its holdings in shares of HIVE Digital Technologies by 85.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 76,200 shares of the company’s stock valued at $145,000 after acquiring an additional 35,200 shares during the period. 24.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HIVE. Weiss Ratings cut HIVE Digital Technologies from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, June 15th. Canaccord Genuity Group reissued a “buy” rating and set a $10.00 price target on shares of HIVE Digital Technologies in a research report on Friday, June 5th. Keefe, Bruyette & Woods boosted 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 research note on Friday, June 5th. B. Riley Financial upped their price target on HIVE Digital Technologies from $5.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Finally, Rosenblatt Securities raised their price objective on HIVE Digital Technologies from $5.00 to $5.50 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Seven equities research 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. According to MarketBeat.com, HIVE Digital Technologies has an average rating of “Moderate Buy” and a consensus target price of $6.95.

HIVE Digital Technologies Stock Down 2.8%

HIVE stock opened at $2.76 on Friday. The firm has a 50 day moving average of $3.55 and a 200 day moving average of $2.88. The stock has a market capitalization of $741.42 million, a PE ratio of -4.93 and a beta of 3.78. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.10. HIVE Digital Technologies Ltd. has a 52 week low of $1.73 and a 52 week high of $7.84.

HIVE Digital Technologies (NASDAQ:HIVE) last issued 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). 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 net margin of 49.21% and a negative return on equity of 23.12%. Sell-side analysts forecast that HIVE Digital Technologies Ltd. will post -0.78 earnings per share for the current year.

Insider Activity

In other HIVE Digital Technologies news, Director Dave Perrill sold 175,000 shares of HIVE Digital Technologies stock in a transaction dated Friday, June 19th. The stock was sold at an average price of $4.69, for a total transaction of $820,750.00. Following the completion of the sale, the director owned 162,500 shares of the company’s stock, valued at approximately $762,125. The trade was a 51.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Susan B. Mcgee sold 125,000 shares of the business’s stock in a transaction dated Friday, June 19th. The shares were sold at an average price of $4.25, for a total value of $531,250.00. Following the sale, the director owned 125,000 shares in the company, valued at approximately $531,250. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 681,700 shares of company stock valued at $2,937,876 over the last ninety days. 9.44% of the stock is currently owned by insiders.

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.