Situational Awareness LP Acquires Shares of 3,391,547 HIVE Digital Technologies Ltd. $HIVE

Key Points

• Situational Awareness LP acquired 3,391,547 HIVE shares worth approximately $6.44 million, giving it about a 1.28% ownership stake and making HIVE its 18th-largest portfolio holding.
• Analysts maintain a generally positive outlook, with seven Buy ratings, two Holds and one Sell; the stock has a “Moderate Buy” consensus and an average price target of $6.95.
• HIVE reported weaker-than-expected quarterly results, including an adjusted loss of $0.28 per share and revenue of $71.82 million versus the $79.99 million estimate, while insiders sold 681,700 shares worth roughly $2.94 million over the past 90 days.

Situational Awareness LP acquired a new stake in HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,391,547 shares of the company's stock, valued at approximately $6,444,000. HIVE Digital Technologies accounts for about 0.0% of Situational Awareness LP's investment portfolio, making the stock its 18th biggest position. Situational Awareness LP owned approximately 1.28% of HIVE Digital Technologies as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Empowered Funds LLC bought a new stake in shares of HIVE Digital Technologies during the 1st quarter worth about $1,934,000. CI Investments Inc. grew its stake 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 buying an additional 14,964 shares during the last quarter. Chicago Partners Investment Group LLC raised 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 acquiring an additional 47,711 shares during the period. Private Advisor Group LLC bought a new position in HIVE Digital Technologies in the 1st quarter valued at about $27,000. Finally, WMG Financial Advisors LLC lifted its position in HIVE Digital Technologies by 150.0% during the first quarter. WMG Financial Advisors LLC now owns 125,000 shares of the company's stock worth $238,000 after acquiring an additional 75,000 shares during the last quarter. Institutional investors and hedge funds own 24.42% of the company's stock.

Wall Street Analyst Weigh In

HIVE has been the subject of a number of research analyst reports. Rosenblatt Securities boosted their price objective on HIVE Digital Technologies from $5.00 to $5.50 and gave the stock a "buy" rating in a report on Wednesday, June 3rd. Wall Street Zen lowered HIVE Digital Technologies from a "sell" rating to a "strong sell" rating in a research note on Sunday, July 12th. B. Riley Financial lifted their price target on HIVE Digital Technologies from $5.00 to $8.00 and gave the stock a "buy" rating in a report on Wednesday, June 3rd. Cantor Fitzgerald set a $7.00 price target on HIVE Digital Technologies in a research note on Thursday, June 4th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $7.00 price objective on shares of HIVE Digital Technologies in a report on Wednesday, June 3rd. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $6.95.

Insider Activity

In related news, Director Dave Perrill sold 175,000 shares of the stock in a transaction that occurred on Friday, June 19th. The stock was sold at an average price of $4.69, for a total transaction of $820,750.00. Following the sale, the director owned 162,500 shares of the company's stock, valued at $762,125. This represents a 51.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Susan B. Mcgee sold 125,000 shares of the firm's stock in a transaction on Friday, June 19th. The stock was sold at an average price of $4.25, for a total value of $531,250.00. Following the transaction, the director owned 125,000 shares in the company, valued at approximately $531,250. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 681,700 shares of company stock worth $2,937,876.

HIVE Digital Technologies Price Performance

Shares of HIVE Digital Technologies stock opened at $2.84 on Wednesday. HIVE Digital Technologies Ltd. has a twelve month low of $1.73 and a twelve month high of $7.84. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.10. The company has a 50-day simple moving average of $3.73 and a two-hundred day simple moving average of $2.91. The stock has a market capitalization of $751.04 million, a price-to-earnings ratio of -5.07 and a beta of 3.77.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last announced its earnings results on Tuesday, June 2nd. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.07). HIVE Digital Technologies had a negative return on equity of 23.12% and a negative net margin of 49.21%.The business had revenue of $71.82 million for the quarter, compared to analyst estimates of $79.99 million. Analysts forecast that HIVE Digital Technologies Ltd. will post -0.74 EPS for the current year.

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.

Want to see what other hedge funds are holding HIVE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.