HIVE Digital Technologies (NASDAQ:HIVE) Upgraded to Sell at Wall Street Zen

HIVE Digital Technologies (NASDAQ:HIVE) was upgraded by equities research analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued to investors on Saturday.

A number of other equities research analysts also recently commented on the company. Rosenblatt Securities lifted their target price on HIVE Digital Technologies from $5.00 to $5.50 and gave the company a “buy” rating in a research report on Wednesday, June 3rd. Canaccord Genuity Group reiterated a “buy” rating and set a $10.00 price target on shares of HIVE Digital Technologies in a report on Friday, June 5th. HC Wainwright reissued a “buy” rating and set a $7.00 price objective on shares of HIVE Digital Technologies in a research report on Wednesday, June 3rd. UBS Group set a $8.00 price objective on shares of HIVE Digital Technologies in a report on Wednesday, June 3rd. Finally, Cantor Fitzgerald set a $7.00 target price on shares of HIVE Digital Technologies in a research report on Thursday, June 4th. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $6.90.

HIVE Digital Technologies Price Performance

Shares of NASDAQ HIVE opened at $3.24 on Friday. The company has a market capitalization of $856.82 million, a P/E ratio of -5.79 and a beta of 3.77. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.10 and a quick ratio of 1.10. The company has a 50 day simple moving average of $3.60 and a 200-day simple moving average of $2.87. HIVE Digital Technologies has a 1 year low of $1.73 and a 1 year high of $7.84.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings data on Tuesday, June 2nd. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $71.82 million during the quarter, compared to analyst estimates of $79.99 million. On average, equities research analysts predict that HIVE Digital Technologies will post -0.74 earnings per share for the current year.

Insider Buying and Selling at HIVE Digital Technologies

In other news, Director Dave Perrill sold 175,000 shares of HIVE Digital Technologies stock in a transaction on Friday, June 19th. The stock was sold at an average price of $4.69, for a total value of $820,750.00. Following the completion of the sale, the director directly owned 162,500 shares of the company’s stock, valued at approximately $762,125. The trade was a 51.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Susan B. Mcgee sold 125,000 shares of HIVE Digital Technologies stock in a transaction on Friday, June 19th. The shares were sold at an average price of $4.25, for a total value of $531,250.00. Following the completion of the sale, the director directly owned 125,000 shares of the company’s stock, valued at $531,250. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 681,700 shares of company stock valued at $2,937,876 over the last quarter. 9.44% of the stock is owned by company insiders.

Hedge Funds Weigh In On HIVE Digital Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC increased its stake in HIVE Digital Technologies by 1,885.8% during the fourth quarter. NewEdge Advisors LLC now owns 9,929 shares of the company’s stock worth $26,000 after purchasing an additional 9,429 shares during the period. Ground Swell Capital LLC purchased a new position in shares of HIVE Digital Technologies in the fourth quarter valued at approximately $27,000. Rafferty Asset Management LLC acquired a new position in shares of HIVE Digital Technologies in the fourth quarter valued at approximately $28,000. State of Wyoming acquired a new position in shares of HIVE Digital Technologies in the fourth quarter valued at approximately $28,000. Finally, Hudson Bay Capital Management LP purchased a new stake in HIVE Digital Technologies during the 3rd quarter worth approximately $51,000. 24.42% of the stock is currently owned by hedge funds and other 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.