HIVE Digital Technologies (NASDAQ:HIVE) Shares Gap Up – Still a Buy?

HIVE Digital Technologies Ltd. (NASDAQ:HIVE)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $3.66, but opened at $3.80. HIVE Digital Technologies shares last traded at $3.97, with a volume of 4,545,052 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on HIVE shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $9.00 target price on shares of HIVE Digital Technologies in a report on Tuesday, November 19th. HC Wainwright lifted their target price on HIVE Digital Technologies from $5.00 to $8.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Canaccord Genuity Group lifted their target price on HIVE Digital Technologies from $6.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Northland Securities lifted their target price on HIVE Digital Technologies from $5.50 to $7.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Finally, Northland Capmk raised HIVE Digital Technologies to a “strong-buy” rating in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, HIVE Digital Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.40.

HIVE Digital Technologies Price Performance

The company has a market capitalization of $514.93 million, a PE ratio of -28.86 and a beta of 3.43. The company has a current ratio of 5.56, a quick ratio of 5.56 and a debt-to-equity ratio of 0.06. The stock has a fifty day simple moving average of $3.69 and a 200-day simple moving average of $3.30.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.03. HIVE Digital Technologies had a negative return on equity of 10.78% and a negative net margin of 12.04%. The business had revenue of $22.65 million during the quarter, compared to the consensus estimate of $25.32 million. During the same period in the previous year, the business earned ($0.29) EPS. Equities analysts anticipate that HIVE Digital Technologies Ltd. will post -0.29 earnings per share for the current year.

Institutional Trading of HIVE Digital Technologies

Several institutional investors and hedge funds have recently made changes to their positions in HIVE. Van ECK Associates Corp lifted its holdings in shares of HIVE Digital Technologies by 35.4% in the 2nd quarter. Van ECK Associates Corp now owns 3,894,605 shares of the company’s stock valued at $11,995,000 after purchasing an additional 1,018,231 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of HIVE Digital Technologies in the 3rd quarter valued at about $463,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of HIVE Digital Technologies by 48.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 325,216 shares of the company’s stock valued at $1,018,000 after purchasing an additional 106,103 shares during the last quarter. State Street Corp lifted its holdings in shares of HIVE Digital Technologies by 2.9% in the 3rd quarter. State Street Corp now owns 3,214,101 shares of the company’s stock valued at $10,060,000 after purchasing an additional 91,056 shares during the last quarter. Finally, Centiva Capital LP acquired a new position in HIVE Digital Technologies in the 3rd quarter valued at about $235,000. 24.42% of the stock is owned by hedge funds and other institutional investors.

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.