Dave Perrill Sells 175,000 Shares of HIVE Digital Technologies (NASDAQ:HIVE) Stock

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Director Dave Perrill sold 175,000 shares of the company’s stock in a transaction dated Friday, June 19th. The stock was sold at an average price of $4.69, for a total value of $820,750.00. Following the sale, the director owned 162,500 shares of the company’s stock, valued at approximately $762,125. This trade represents a 51.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

HIVE Digital Technologies Stock Down 10.6%

Shares of HIVE stock opened at $4.14 on Thursday. The stock’s 50 day simple moving average is $3.45 and its 200 day simple moving average is $2.84. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.10 and a current ratio of 1.10. HIVE Digital Technologies Ltd. has a twelve month low of $1.70 and a twelve month high of $7.84. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -7.39 and a beta of 3.74.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its 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 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%. As a group, research analysts predict that HIVE Digital Technologies Ltd. will post -0.74 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HIVE. B. Riley Financial boosted their price objective on shares of HIVE Digital Technologies from $5.00 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of HIVE Digital Technologies in a report on Wednesday, June 3rd. Canaccord Genuity Group reissued a “buy” rating and set a $10.00 target price on shares of HIVE Digital Technologies in a research report on Friday, June 5th. Cantor Fitzgerald set a $7.00 price target on shares of HIVE Digital Technologies in a report on Thursday, June 4th. Finally, UBS Group set a $8.00 price target on 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. Based on data from MarketBeat.com, HIVE Digital Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $6.90.

Institutional Investors Weigh In On HIVE Digital Technologies

Several hedge funds have recently modified their holdings of HIVE. Stillwater Private Wealth LLC acquired a new stake in shares of HIVE Digital Technologies in the first quarter worth $38,000. Situational Awareness LP acquired a new position in HIVE Digital Technologies during the 1st quarter valued at $6,444,000. Empowered Funds LLC acquired a new position in HIVE Digital Technologies during the 1st quarter valued at $1,934,000. CI Investments Inc. boosted its holdings in HIVE Digital Technologies by 37.9% in the 1st quarter. CI Investments Inc. now owns 54,429 shares of the company’s stock valued at $103,000 after purchasing an additional 14,964 shares during the period. Finally, Chicago Partners Investment Group LLC boosted its holdings in HIVE Digital Technologies by 30.3% in the 1st quarter. Chicago Partners Investment Group LLC now owns 205,322 shares of the company’s stock valued at $390,000 after purchasing an additional 47,711 shares during the period. 24.42% of the stock is owned by institutional investors.

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.