Vident Advisory LLC Sells 370,103 Shares of HIVE Digital Technologies Ltd. $HIVE

Key Points

• Vident Advisory LLC reduced its stake in HIVE Digital Technologies by 13.1%, now owning 2,461,389 shares valued at approximately $3.57 million.
• Analysts have mixed ratings for HIVE, with target prices ranging from $5.00 to $9.00, indicating a consensus rating of "Buy" with a target price of $6.93.
• For the last quarter, HIVE reported an EPS of -$0.06, beating expectations, with revenues of $45.61 million compared to the projected $45.16 million.

Vident Advisory LLC lowered its stake in HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Free Report) by 13.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,461,389 shares of the company's stock after selling 370,103 shares during the period. Vident Advisory LLC owned approximately 1.44% of HIVE Digital Technologies worth $3,570,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of HIVE. Charles Schwab Investment Management Inc. raised its holdings in HIVE Digital Technologies by 87.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,383,446 shares of the company's stock valued at $2,006,000 after buying an additional 647,159 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. raised its stake in shares of HIVE Digital Technologies by 18.5% during the first quarter. Generali Investments CEE investicni spolecnost a.s. now owns 855,950 shares of the company's stock valued at $1,241,000 after acquiring an additional 133,840 shares during the last quarter. Man Group plc purchased a new stake in shares of HIVE Digital Technologies during the fourth quarter worth about $1,118,000. Wells Fargo & Company MN grew its stake in shares of HIVE Digital Technologies by 60.9% in the fourth quarter. Wells Fargo & Company MN now owns 15,320 shares of the company's stock worth $44,000 after purchasing an additional 5,800 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of HIVE Digital Technologies by 12.8% in the fourth quarter. Invesco Ltd. now owns 101,092 shares of the company's stock worth $288,000 after purchasing an additional 11,458 shares during the last quarter. 24.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on HIVE shares. Zacks Research raised HIVE Digital Technologies to a "hold" rating in a research report on Friday, August 8th. Roth Capital raised their price target on HIVE Digital Technologies from $6.00 to $7.50 and gave the stock a "buy" rating in a research note on Tuesday, August 26th. Cantor Fitzgerald boosted their price objective on shares of HIVE Digital Technologies from $5.00 to $5.50 and gave the company an "overweight" rating in a research report on Friday, June 27th. Wall Street Zen raised shares of HIVE Digital Technologies from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 16th. Finally, HC Wainwright reduced their price target on HIVE Digital Technologies from $9.00 to $6.00 and set a "buy" rating on the stock in a research note on Friday, June 27th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, HIVE Digital Technologies has a consensus rating of "Buy" and a consensus target price of $6.93.

HIVE Digital Technologies Stock Performance

NASDAQ HIVE traded down $0.16 during trading hours on Thursday, hitting $2.73. The company's stock had a trading volume of 14,322,972 shares, compared to its average volume of 15,085,660. HIVE Digital Technologies Ltd. has a 12 month low of $1.26 and a 12 month high of $5.54. The company's 50 day simple moving average is $2.32 and its two-hundred day simple moving average is $1.99. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.42 and a quick ratio of 3.42. The company has a market cap of $627.51 million, a P/E ratio of -13.62 and a beta of 3.45.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.02. HIVE Digital Technologies had a negative net margin of 17.47% and a negative return on equity of 17.39%. The firm had revenue of $45.61 million during the quarter, compared to analysts' expectations of $45.16 million. As a group, sell-side analysts expect that HIVE Digital Technologies Ltd. will post -0.32 EPS for the current fiscal year.

HIVE Digital Technologies Company Profile

HIVE Digital Technologies Ltd. operates as a cryptocurrency mining company in Canada, Sweden, and Iceland. The company engages in the mining and sale of digital currencies, including Ethereum Classic, Bitcoin, and other coins. It also operates data centers; and offers infrastructure solutions. The company was formerly known as HIVE Blockchain Technologies Ltd.