HIVE Digital Technologies (NASDAQ:HIVE) Stock Price Up 6.7% – What’s Next?

HIVE Digital Technologies Ltd. (NASDAQ:HIVE)’s share price traded up 6.7% during trading on Friday . The stock traded as high as $3.31 and last traded at $3.2750. 9,660,283 shares were traded during trading, a decline of 28% from the average session volume of 13,501,448 shares. The stock had previously closed at $3.07.

Analysts Set New Price Targets

Several brokerages recently issued reports on HIVE. B. Riley decreased their price target on shares of HIVE Digital Technologies from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, November 21st. HC Wainwright lifted their target price on shares of HIVE Digital Technologies from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Northland Securities set a $7.50 price target on HIVE Digital Technologies in a research note on Tuesday, October 7th. Wall Street Zen cut HIVE Digital Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of HIVE Digital Technologies in a research note on Friday, October 31st. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, HIVE Digital Technologies has a consensus rating of “Moderate Buy” and an average price target of $8.21.

HIVE Digital Technologies Trading Up 3.7%

The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.55 and a current ratio of 2.55. The firm has a market cap of $792.42 million, a PE ratio of -15.14 and a beta of 3.58. The stock has a 50-day simple moving average of $3.07 and a two-hundred day simple moving average of $3.44.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings data on Friday, November 14th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.01). HIVE Digital Technologies had a negative net margin of 16.18% and a negative return on equity of 14.15%. The company had revenue of $83.37 million for the quarter, compared to analysts’ expectations of $80.62 million. As a group, sell-side analysts anticipate that HIVE Digital Technologies Ltd. will post -0.32 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of HIVE Digital Technologies by 18.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 878,457 shares of the company’s stock worth $1,283,000 after purchasing an additional 137,651 shares during the period. Goldman Sachs Group Inc. raised its position in HIVE Digital Technologies by 328.2% in the first quarter. Goldman Sachs Group Inc. now owns 520,877 shares of the company’s stock worth $755,000 after acquiring an additional 399,223 shares during the period. Plancorp LLC boosted its stake in shares of HIVE Digital Technologies by 55.6% during the 2nd quarter. Plancorp LLC now owns 35,000 shares of the company’s stock worth $63,000 after acquiring an additional 12,500 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. grew its position in shares of HIVE Digital Technologies by 45.4% during the 2nd quarter. Generali Investments CEE investicni spolecnost a.s. now owns 1,244,230 shares of the company’s stock valued at $2,240,000 after acquiring an additional 388,280 shares during the period. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in shares of HIVE Digital Technologies in the 2nd quarter worth $38,000. 24.42% of the stock is owned by hedge funds and other institutional investors.

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.