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

HIVE Digital Technologies Ltd. (NASDAQ:HIVE)’s share price gapped up before the market opened on Wednesday. The stock had previously closed at $1.9750, but opened at $2.08. HIVE Digital Technologies shares last traded at $2.0050, with a volume of 2,170,581 shares traded.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Weiss Ratings raised HIVE Digital Technologies from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, August 14th. Rosenblatt Securities increased their target price on shares of HIVE Digital Technologies from $5.50 to $6.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Canaccord Genuity Group reissued a “buy” rating and set a $10.00 price target on shares of HIVE Digital Technologies in a report on Monday. Chardan Capital reissued a “buy” rating and set a $7.50 price target on shares of HIVE Digital Technologies in a report on Wednesday, September 16th. Finally, HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of HIVE Digital Technologies in a report on Monday, August 17th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, HIVE Digital Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $6.95.

HIVE Digital Technologies Stock Up 1.0%

The firm has a market capitalization of $551.06 million, a price-to-earnings ratio of -1.55 and a beta of 3.76. The business’s 50-day moving average is $2.86 and its two-hundred day moving average is $3.08. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.96 and a current ratio of 1.96.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.33). HIVE Digital Technologies had a negative net margin of 98.49% and a negative return on equity of 31.98%. The firm had revenue of $79.12 million for the quarter, compared to analyst estimates of $81.72 million. During the same quarter in the prior year, the firm posted $0.18 EPS. On average, equities analysts anticipate that HIVE Digital Technologies Ltd. will post -0.61 earnings per share for the current year.

Insider Activity at HIVE Digital Technologies

In related news, Director Dave Perrill sold 12,500 shares of the company’s stock in a transaction on Wednesday, October 7th. The shares were sold at an average price of $2.75, for a total value of $34,375.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Institutional Investors Weigh In On HIVE Digital Technologies

Several large investors have recently made changes to their positions in the stock. Private Advisor Group LLC bought a new stake in HIVE Digital Technologies in the 1st quarter valued at $27,000. Caitong International Asset Management Co. Ltd raised its stake in shares of HIVE Digital Technologies by 98.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 13,996 shares of the company’s stock valued at $36,000 after purchasing an additional 6,956 shares during the period. Stillwater Private Wealth LLC acquired a new stake in shares of HIVE Digital Technologies in the 1st quarter valued at about $38,000. Verity Asset Management Inc. acquired a new stake in shares of HIVE Digital Technologies in the 2nd quarter valued at about $44,000. Finally, Kellett Wealth Advisors LLC lifted its holdings in shares of HIVE Digital Technologies by 80.0% in the third quarter. Kellett Wealth Advisors LLC now owns 18,000 shares of the company’s stock valued at $53,000 after purchasing an additional 8,000 shares in the last quarter. Institutional investors own 24.42% of the company’s stock.

About HIVE Digital Technologies

HIVE Digital Technologies Ltd. is a digital-asset and data-center infrastructure company focused primarily on the mining of Bitcoin. The company operates specialized computing facilities designed to support energy-intensive digital-asset mining and has also been developing capabilities for high-performance computing and artificial-intelligence applications.

HIVE was founded in 2017 and was formerly known as HIVE Blockchain Technologies Ltd. Its operations have historically included data centers in Canada, Sweden and Iceland, and the company has expanded its infrastructure footprint internationally, including through development activities in Paraguay.