HIVE Digital Technologies (NASDAQ:HIVE) Trading Up 6.1% – Should You Buy?

HIVE Digital Technologies Ltd. (NASDAQ:HIVE)’s stock price was up 6.1% on Monday . The stock traded as high as $3.03 and last traded at $3.0230. Approximately 1,924,976 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 19,090,396 shares. The stock had previously closed at $2.85.

Analyst Ratings Changes

HIVE has been the topic of a number of recent analyst reports. Cantor Fitzgerald set a $7.00 target price on HIVE Digital Technologies in a research report on Thursday, June 4th. Wall Street Zen lowered HIVE Digital Technologies from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 12th. B. Riley Financial boosted their price target on shares of HIVE Digital Technologies from $5.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Rosenblatt Securities boosted their price objective on HIVE Digital Technologies from $5.00 to $5.50 and gave the company a “buy” rating in a research note on Wednesday, June 3rd. Finally, Keefe, Bruyette & Woods increased their target price on shares of HIVE Digital Technologies from $3.00 to $5.00 and gave the stock a “market perform” rating in a research note on Friday, June 5th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.90.

HIVE Digital Technologies Stock Performance

The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.10. The company has a market cap of $805.25 million, a PE ratio of -5.44 and a beta of 3.77. The company has a 50-day moving average of $3.72 and a 200-day moving average of $2.90.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its earnings results on Tuesday, June 2nd. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.07). The firm had revenue of $71.82 million during the quarter, compared to the consensus estimate of $79.99 million. HIVE Digital Technologies had a negative return on equity of 23.12% and a negative net margin of 49.21%. As a group, analysts anticipate that HIVE Digital Technologies Ltd. will post -0.74 earnings per share for the current year.

Insiders Place Their Bets

In other HIVE Digital Technologies news, Director Dave Perrill sold 175,000 shares of the company’s stock in a transaction dated Friday, June 19th. The shares were sold at an average price of $4.69, for a total value of $820,750.00. Following the completion of the sale, the director directly owned 162,500 shares of the company’s stock, valued at approximately $762,125. This represents a 51.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Susan B. Mcgee sold 125,000 shares of the stock in a transaction dated Friday, June 19th. The shares were sold at an average price of $4.25, for a total transaction of $531,250.00. Following the completion of the sale, the director owned 125,000 shares of the company’s stock, valued at approximately $531,250. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 681,700 shares of company stock valued at $2,937,876. Corporate insiders own 9.44% of the company’s stock.

Institutional Trading of HIVE Digital Technologies

A number of institutional investors and hedge funds have recently modified their holdings of HIVE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in HIVE Digital Technologies by 18.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 878,457 shares of the company’s stock worth $1,283,000 after acquiring an additional 137,651 shares during the period. Goldman Sachs Group Inc. boosted 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 purchasing an additional 399,223 shares during the last quarter. Geode Capital Management LLC grew its stake in HIVE Digital Technologies by 11.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,296,531 shares of the company’s stock valued at $2,334,000 after purchasing an additional 128,760 shares during the period. JPMorgan Chase & Co. grew its stake in HIVE Digital Technologies by 397,216.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 397,316 shares of the company’s stock valued at $715,000 after purchasing an additional 397,216 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of HIVE Digital Technologies by 232.8% during the 2nd quarter. Franklin Resources Inc. now owns 62,061 shares of the company’s stock valued at $112,000 after purchasing an additional 43,413 shares during the last quarter. 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.