HIVE Digital Technologies Ltd. $HIVE Shares Purchased by Situational Awareness LP

Key Points

• Situational Awareness LP increased its HIVE Digital Technologies stake by 169.3% in the second quarter, holding 9.13 million shares worth approximately $33.25 million. Other institutional investors also raised their positions, with institutions collectively owning 24.42% of the stock.
• HIVE shares were trading at $3.05 after rising 12.1%, but the company reported a quarterly loss of $0.54 per share, missing estimates by $0.33, and revenue of $79.12 million below expectations.
• Analyst sentiment remains generally positive, with six Buy ratings and a consensus price target of $6.95. However, insiders sold 698,300 shares worth approximately $2.83 million over the past 90 days.

Situational Awareness LP raised its position in HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Free Report) by 169.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,133,726 shares of the company's stock after purchasing an additional 5,742,179 shares during the quarter. HIVE Digital Technologies accounts for approximately 0.2% of Situational Awareness LP's portfolio, making the stock its 18th largest position. Situational Awareness LP owned about 3.33% of HIVE Digital Technologies worth $33,247,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in HIVE Digital Technologies by 18.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 878,457 shares of the company's stock worth $1,283,000 after acquiring an additional 137,651 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in HIVE Digital Technologies by 328.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 520,877 shares of the company's stock worth $755,000 after buying an additional 399,223 shares in the last quarter. Geode Capital Management LLC boosted its position in HIVE Digital Technologies by 11.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,296,531 shares of the company's stock valued at $2,334,000 after buying an additional 128,760 shares during the period. JPMorgan Chase & Co. boosted its position in HIVE Digital Technologies by 397,216.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 397,316 shares of the company's stock valued at $715,000 after buying an additional 397,216 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of HIVE Digital Technologies by 232.8% during the second quarter. Franklin Resources Inc. now owns 62,061 shares of the company's stock worth $112,000 after acquiring an additional 43,413 shares during the period. 24.42% of the stock is currently owned by hedge funds and other institutional investors.

HIVE Digital Technologies Trading Up 12.1%

HIVE opened at $3.05 on Friday. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.85. HIVE Digital Technologies Ltd. has a 52 week low of $1.73 and a 52 week high of $7.84. The business's 50 day moving average is $3.02 and its two-hundred day moving average is $2.91. The firm has a market cap of $834.78 million, a price-to-earnings ratio of -2.36 and a beta of 3.75.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last released its quarterly earnings results on Friday, August 14th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.33). The business had revenue of $79.12 million during the quarter, compared to analysts' expectations of $81.72 million. HIVE Digital Technologies had a negative net margin of 98.49% and a negative return on equity of 31.98%. During the same quarter last year, the company earned $0.18 EPS. On average, research analysts predict that HIVE Digital Technologies Ltd. will post -0.61 EPS for the current year.

Insider Activity at HIVE Digital Technologies

In other HIVE Digital Technologies news, Director Dave Perrill sold 100,000 shares of the business's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $2.72, for a total transaction of $272,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Susan B. Mcgee sold 125,000 shares of the firm's stock in a transaction that occurred 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. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 698,300 shares of company stock worth $2,830,742 over the last 90 days. Company insiders own 9.44% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on HIVE. Canaccord Genuity Group restated a "buy" rating and set a $10.00 price target on shares of HIVE Digital Technologies in a report on Tuesday, August 18th. Wall Street Zen lowered shares of HIVE Digital Technologies from a "sell" rating to a "strong sell" rating in a report on Sunday, July 12th. Cantor Fitzgerald set a $7.00 price objective on shares of HIVE Digital Technologies in a research report on Thursday, June 4th. UBS Group set a $8.00 price target on HIVE Digital Technologies in a research note on Wednesday, June 3rd. Finally, Rosenblatt Securities lifted their price target on HIVE Digital Technologies from $5.50 to $6.00 and gave the stock a "buy" rating in a report on Thursday, August 20th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, HIVE Digital Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $6.95.

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.

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