Luke Rossy Sells 215,000 Shares of HIVE Digital Technologies (NASDAQ:HIVE) Stock

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) COO Luke Rossy sold 215,000 shares of the business’s 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Luke Rossy also recently made the following trade(s):

• On Wednesday, June 3rd, Luke Rossy sold 66,700 shares of HIVE Digital Technologies stock. The shares were sold at an average price of $4.57, for a total value of $304,819.00.

HIVE Digital Technologies Price Performance

Shares of HIVE stock opened at $3.50 on Thursday. The stock’s fifty day simple moving average is $3.01 and its 200 day simple moving average is $2.77. 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 firm has a market cap of $925.58 million, a price-to-earnings ratio of -6.25 and a beta of 3.74. HIVE Digital Technologies Ltd. has a one year low of $1.60 and a one year high of $7.84.

HIVE Digital Technologies (NASDAQ:HIVE) last announced 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). 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 net margin of 49.21% and a negative return on equity of 23.12%. On average, analysts expect that HIVE Digital Technologies Ltd. will post -0.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Cantor Fitzgerald set a $7.00 price objective on HIVE Digital Technologies in a research report on Thursday, June 4th. Rosenblatt Securities lifted their price objective 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 issued a $10.00 price objective on shares of HIVE Digital Technologies in a research report on Friday, June 5th. Keefe, Bruyette & Woods lifted their price objective on HIVE Digital Technologies from $3.00 to $5.00 and gave the company a “market perform” rating in a research report on Friday, June 5th. Finally, New Street Research set a $5.00 price objective on HIVE Digital Technologies in a research report on Thursday, February 19th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, HIVE Digital Technologies currently has an average rating of “Moderate Buy” and an average target price of $6.90.

Institutional Investors Weigh In On HIVE Digital Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Millennium Management LLC raised its position in shares of HIVE Digital Technologies by 58.1% during the fourth quarter. Millennium Management LLC now owns 6,900,828 shares of the company’s stock worth $17,804,000 after acquiring an additional 2,536,135 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of HIVE Digital Technologies by 29.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,187,363 shares of the company’s stock worth $13,383,000 after acquiring an additional 1,193,991 shares during the last quarter. Tidal Investments LLC raised its position in shares of HIVE Digital Technologies by 15.4% during the third quarter. Tidal Investments LLC now owns 4,771,312 shares of the company’s stock worth $19,228,000 after acquiring an additional 637,679 shares during the last quarter. Two Sigma Investments LP bought a new stake in shares of HIVE Digital Technologies during the third quarter worth $17,584,000. Finally, Vident Advisory LLC raised its position in shares of HIVE Digital Technologies by 33.6% during the fourth quarter. Vident Advisory LLC now owns 4,327,141 shares of the company’s stock worth $11,164,000 after acquiring an additional 1,087,224 shares during the last quarter. Institutional investors own 24.42% of the company’s stock.

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.