Alight Capital Management LP Decreases Stock Holdings in HIVE Digital Technologies Ltd. $HIVE

Alight Capital Management LP trimmed its holdings in shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) by 53.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 150,000 shares of the company’s stock after selling 175,000 shares during the quarter. Alight Capital Management LP owned 0.06% of HIVE Digital Technologies worth $387,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of HIVE. Ground Swell Capital LLC purchased a new stake in shares of HIVE Digital Technologies during the fourth quarter valued at approximately $27,000. State of Wyoming purchased a new stake in shares of HIVE Digital Technologies during the fourth quarter valued at approximately $28,000. Rafferty Asset Management LLC purchased a new stake in shares of HIVE Digital Technologies during the fourth quarter valued at approximately $28,000. Kestra Advisory Services LLC purchased a new stake in shares of HIVE Digital Technologies during the fourth quarter valued at approximately $36,000. Finally, ACT Wealth Management LLC increased its position in HIVE Digital Technologies by 33.3% in the fourth quarter. ACT Wealth Management LLC now owns 16,000 shares of the company’s stock worth $41,000 after buying an additional 4,000 shares during the last quarter. 24.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HIVE has been the subject of a number of recent research reports. Weiss Ratings downgraded HIVE Digital Technologies from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday. B. Riley Financial raised their target price 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. UBS Group set a $8.00 target price on HIVE Digital Technologies in a research report on Wednesday, June 3rd. Canaccord Genuity Group reissued a “buy” rating and issued a $10.00 target price on shares of HIVE Digital Technologies in a research report on Friday, June 5th. Finally, HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of HIVE Digital Technologies in a research report on Wednesday, June 3rd. Six 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.90.

Insider Buying and Selling at HIVE Digital Technologies

In related news, Director Susan B. Mcgee sold 16,700 shares of HIVE Digital Technologies stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $4.45, for a total transaction of $74,315.00. Following the completion of the sale, the director owned 208,300 shares of the company’s stock, valued at approximately $926,935. This trade represents a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Luke Rossy sold 215,000 shares of HIVE Digital Technologies stock in a transaction on Monday, June 8th. The shares were sold at an average price of $3.97, for a total value of $853,550.00. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 298,400 shares of company stock valued at $1,232,684. 9.44% of the stock is owned by company insiders.

HIVE Digital Technologies Price Performance

Shares of NASDAQ HIVE opened at $3.97 on Thursday. The stock has a market cap of $1.05 billion, a PE ratio of -7.09 and a beta of 3.74. HIVE Digital Technologies Ltd. has a fifty-two week low of $1.60 and a fifty-two 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 stock has a fifty day moving average of $3.21 and a 200-day moving average of $2.80.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its quarterly earnings results on Tuesday, June 2nd. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.07). The company had revenue of $71.82 million during the quarter, compared to analysts’ expectations of $79.99 million. HIVE Digital Technologies had a negative net margin of 49.21% and a negative return on equity of 23.12%. Equities research analysts anticipate that HIVE Digital Technologies Ltd. will post -0.74 earnings per share for the current year.

HIVE Digital Technologies 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.