Wall Street Zen Upgrades HIVE Digital Technologies (NASDAQ:HIVE) to "Sell"

Key Points

• Wall Street Zen raised HIVE Digital Technologies from “strong sell” to “sell,” while the broader analyst picture remains more favorable with six Buy ratings, two Hold ratings, and one Sell. The consensus price target is $6.90, and the average rating is “Moderate Buy.”
• HIVE reported disappointing quarterly results, posting EPS of -$0.28 versus expectations of -$0.21 and revenue of $71.82 million versus $79.99 million forecast. Analysts currently expect the company to lose $0.74 per share for the current fiscal year.
• Insider selling has been notable, with directors Susan B. Mcgee and Dave Perrill both selling large blocks of stock, and insiders selling 681,700 shares worth about $2.94 million in the last quarter. Institutional ownership remains significant at 24.42%.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) was upgraded by analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a note issued to investors on Saturday.

Other equities research analysts have also recently issued reports about the company. B. Riley Financial boosted their price objective on HIVE Digital Technologies from $5.00 to $8.00 and gave the stock a "buy" rating in a research note on Wednesday, June 3rd. UBS Group set a $8.00 target price on HIVE Digital Technologies in a research report on Wednesday, June 3rd. Keefe, Bruyette & Woods lifted their price target on HIVE Digital Technologies from $3.00 to $5.00 and gave the stock a "market perform" rating in a research note on Friday, June 5th. Rosenblatt Securities boosted their price target on HIVE Digital Technologies from $5.00 to $5.50 and gave the stock a "buy" rating in a research report on Wednesday, June 3rd. Finally, Canaccord Genuity Group reiterated a "buy" rating and set a $10.00 price target on shares of HIVE Digital Technologies in a research report on Friday, June 5th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $6.90.

HIVE Digital Technologies Stock Performance

HIVE opened at $3.24 on Friday. The firm's fifty day simple moving average is $3.60 and its two-hundred day simple moving average is $2.87. HIVE Digital Technologies has a 52-week low of $1.73 and a 52-week high of $7.84. The company has a market cap of $856.82 million, a price-to-earnings ratio of -5.79 and a beta of 3.77. The company has a quick ratio of 1.10, a current 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 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 company had revenue of $71.82 million for the quarter, compared to analysts' expectations of $79.99 million. Equities analysts anticipate that HIVE Digital Technologies will post -0.74 earnings per share for the current fiscal year.

Insider Activity at HIVE Digital Technologies

In other HIVE Digital Technologies news, 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 transaction, the director directly owned 125,000 shares of the company's stock, valued at $531,250. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dave Perrill sold 175,000 shares of the business's stock in a transaction that occurred on Friday, June 19th. The stock was sold at an average price of $4.69, for a total value of $820,750.00. Following the transaction, the director owned 162,500 shares in the company, valued at approximately $762,125. This represents a 51.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 681,700 shares of company stock valued at $2,937,876. Corporate insiders own 9.44% of the company's stock.

Hedge Funds Weigh In On HIVE Digital Technologies

A number of institutional investors have recently added to or reduced their stakes in the stock. ACT Wealth Management LLC grew its holdings in HIVE Digital Technologies by 33.3% in the 4th quarter. ACT Wealth Management LLC now owns 16,000 shares of the company's stock valued at $41,000 after buying an additional 4,000 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in shares of HIVE Digital Technologies by 23.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 26,148 shares of the company's stock worth $67,000 after acquiring an additional 4,964 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in shares of HIVE Digital Technologies by 98.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 13,996 shares of the company's stock valued at $36,000 after acquiring an additional 6,956 shares during the last quarter. Captrust Financial Advisors boosted its position in shares of HIVE Digital Technologies by 10.9% during the 4th quarter. Captrust Financial Advisors now owns 73,849 shares of the company's stock valued at $191,000 after acquiring an additional 7,271 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of HIVE Digital Technologies by 6.4% in the second quarter. Invesco Ltd. now owns 152,782 shares of the company's stock valued at $275,000 after purchasing an additional 9,241 shares during the period. Hedge funds and other institutional investors own 24.42% of the company's stock.

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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