HIVE Digital Technologies (NASDAQ:HIVE) Upgraded at Chardan Capital

Key Points

• Chardan Capital upgraded HIVE Digital Technologies to “strong buy.” The broader analyst consensus remains “Moderate Buy,” with a consensus price target of $6.95.
• HIVE shares opened at $2.84, down 3.7%, while the company reported a quarterly loss of $0.28 per share and revenue of $71.82 million, both below analyst expectations.
• Company insiders sold 681,700 shares worth approximately $2.94 million during the last quarter, while institutional investors own 24.42% of HIVE’s stock.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) was upgraded by equities research analysts at Chardan Capital to a "strong-buy" rating in a report issued on Monday,Zacks.com reports.

Several other research firms have also issued reports on HIVE. HC Wainwright reaffirmed a "buy" rating and issued a $7.00 price target on shares of HIVE Digital Technologies in a research report on Wednesday, June 3rd. Weiss Ratings downgraded shares of HIVE Digital Technologies from a "sell (d)" rating to a "sell (d-)" rating in a research report on Monday, June 15th. Cantor Fitzgerald set a $7.00 price objective on shares of HIVE Digital Technologies in a research note on Thursday, June 4th. Rosenblatt Securities lifted their target price on shares of HIVE Digital Technologies from $5.00 to $5.50 and gave the stock a "buy" rating in a report on Wednesday, June 3rd. Finally, Wall Street Zen downgraded shares of HIVE Digital Technologies from a "sell" rating to a "strong sell" rating in a research note on Sunday, July 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $6.95.

HIVE Digital Technologies Stock Down 3.7%

Shares of NASDAQ:HIVE opened at $2.84 on Monday. The stock has a fifty 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 has a 12-month low of $1.73 and a 12-month high of $7.84. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.10.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last released its 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). HIVE Digital Technologies had a negative return on equity of 23.12% and a negative net margin of 49.21%.The company had revenue of $71.82 million during the quarter, compared to the consensus estimate of $79.99 million. On average, research analysts anticipate that HIVE Digital Technologies will post -0.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Dave Perrill sold 175,000 shares of the company's stock in a transaction 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 transaction, the director directly 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 document filed with the SEC, which is available through the SEC website. Also, COO Luke Rossy sold 215,000 shares of the 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 disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 681,700 shares of company stock valued at $2,937,876.

Hedge Funds Weigh In On HIVE Digital Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of HIVE. Millennium Management LLC boosted its holdings in shares of HIVE Digital Technologies by 58.1% during the 4th quarter. Millennium Management LLC now owns 6,900,828 shares of the company's stock valued at $17,804,000 after acquiring an additional 2,536,135 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings 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 valued at $13,383,000 after purchasing an additional 1,193,991 shares during the last quarter. Tidal Investments LLC raised its holdings 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 valued at $19,228,000 after purchasing an additional 637,679 shares during the last quarter. Two Sigma Investments LP bought a new position in HIVE Digital Technologies during the third quarter valued at approximately $17,584,000. Finally, Vident Advisory LLC grew its position in HIVE Digital Technologies by 33.6% in the 4th quarter. Vident Advisory LLC now owns 4,327,141 shares of the company's stock worth $11,164,000 after purchasing an additional 1,087,224 shares during the period. 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.

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