HIVE Digital Technologies Sees Unusually Large Options Volume (NASDAQ:HIVE)

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) was the target of unusually large options trading activity on Tuesday. Investors acquired 19,610 call options on the company. This represents an increase of approximately 47% compared to the typical daily volume of 13,317 call options.

Wall Street Analysts Forecast Growth

HIVE has been the topic of a number of recent analyst reports. New Street Research set a $5.00 price target on shares of HIVE Digital Technologies in a report on Thursday, February 19th. Cantor Fitzgerald increased their price target on shares of HIVE Digital Technologies from $3.00 to $4.60 and gave the company an “overweight” rating in a report on Tuesday, May 19th. Canaccord Genuity Group reiterated a “buy” rating and set a $10.00 price target on shares of HIVE Digital Technologies in a report on Friday, April 24th. Northland Securities set a $6.00 price target on shares of HIVE Digital Technologies in a report on Wednesday, February 18th. Finally, HC Wainwright reiterated a “buy” rating on shares of HIVE Digital Technologies in a report on Tuesday, February 17th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $6.34.

HIVE Digital Technologies Stock Performance

HIVE Digital Technologies stock traded down $0.24 during midday trading on Tuesday, reaching $4.52. 53,246,192 shares of the company traded hands, compared to its average volume of 30,167,264. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -7.93 and a beta of 3.74. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.74 and a quick ratio of 1.74. HIVE Digital Technologies has a 12 month low of $1.60 and a 12 month high of $7.84. The business has a 50 day moving average of $2.72 and a two-hundred day moving average of $2.75.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its quarterly earnings data on Tuesday, June 2nd. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.20. HIVE Digital Technologies had a negative return on equity of 19.81% and a negative net margin of 47.89%. As a group, research analysts predict that HIVE Digital Technologies will post -0.53 earnings per share for the current year.

Institutional Trading of HIVE Digital Technologies

A number of hedge funds have recently bought and sold shares of HIVE. Bastion Asset Management Inc. bought a new stake in shares of HIVE Digital Technologies during the 3rd quarter valued at $1,175,000. Alight Capital Management LP bought a new stake in shares of HIVE Digital Technologies during the 3rd quarter valued at $1,310,000. UBS Group AG grew its position in shares of HIVE Digital Technologies by 3,992.2% during the 4th quarter. UBS Group AG now owns 929,390 shares of the company’s stock valued at $2,398,000 after acquiring an additional 906,679 shares during the period. Baader Bank Aktiengesellschaft bought a new stake in shares of HIVE Digital Technologies during the 3rd quarter valued at $847,000. Finally, Vanguard Personalized Indexing Management LLC grew its position in shares of HIVE Digital Technologies by 21.4% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 25,388 shares of the company’s stock valued at $102,000 after acquiring an additional 4,472 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.