HIVE Digital Technologies (NASDAQ:HIVE) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

HIVE Digital Technologies (NASDAQ:HIVE) announced its quarterly earnings data on Thursday. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.02, Zacks reports. The company had revenue of $79.12 million during the quarter, compared to the consensus estimate of $81.72 million. HIVE Digital Technologies had a negative net margin of 49.21% and a negative return on equity of 23.12%. During the same quarter last year, the firm posted $0.18 EPS.

HIVE Digital Technologies Stock Up 4.3%

Shares of HIVE Digital Technologies stock traded up $0.11 during trading hours on Friday, reaching $2.69. The company’s stock had a trading volume of 29,542,555 shares, compared to its average volume of 16,380,363. HIVE Digital Technologies has a one year low of $1.73 and a one year high of $7.84. The company has a market capitalization of $722.61 million, a P/E ratio of -4.80 and a beta of 3.78. The stock’s fifty day simple moving average is $3.34 and its two-hundred day simple moving average is $2.86. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.10 and a current ratio of 1.10.

Insider Transactions at HIVE Digital Technologies

In related news, COO Luke Rossy sold 215,000 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $3.97, for a total value of $853,550.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Susan B. Mcgee sold 125,000 shares of HIVE Digital Technologies stock in a transaction dated 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 owned 125,000 shares of the company’s stock, valued at $531,250. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 681,700 shares of company stock valued at $2,937,876 over the last three months. Corporate insiders own 9.44% of the company’s stock.

Institutional Trading of HIVE Digital Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Virtu Financial LLC purchased a new position in shares of HIVE Digital Technologies during the fourth quarter valued at approximately $78,000. Compound Planning Inc. bought a new stake in HIVE Digital Technologies during the fourth quarter worth $36,000. Vident Advisory LLC raised 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 valued at $11,164,000 after buying an additional 1,087,224 shares during the last quarter. NewEdge Advisors LLC raised its position in HIVE Digital Technologies by 1,885.8% in the 4th quarter. NewEdge Advisors LLC now owns 9,929 shares of the company’s stock valued at $26,000 after buying an additional 9,429 shares during the last quarter. Finally, XTX Topco Ltd lifted its stake in HIVE Digital Technologies by 10.8% during the 4th quarter. XTX Topco Ltd now owns 183,806 shares of the company’s stock valued at $474,000 after acquiring an additional 17,972 shares in the last quarter. 24.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Rosenblatt Securities raised their price target 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. Chardan Capital started coverage on shares of HIVE Digital Technologies in a report on Monday, July 27th. They set a “buy” rating and a $7.50 price objective on the stock. Weiss Ratings cut shares of HIVE Digital Technologies from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, June 15th. UBS Group set a $8.00 target price on HIVE Digital Technologies in a research note on Wednesday, June 3rd. Finally, Keefe, Bruyette & Woods boosted their target price on HIVE Digital Technologies from $3.00 to $5.00 and gave the company a “market perform” rating in a research report on Friday, June 5th. Seven 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 data from MarketBeat, the stock presently 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.