HIVE Digital Technologies (NASDAQ:HIVE) Shares Gap Up – Should You Buy?

by · The Cerbat Gem

HIVE Digital Technologies Ltd. (NASDAQ:HIVE – Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $4.29, but opened at $4.45. HIVE Digital Technologies shares last traded at $4.14, with a volume of 2,122,294 shares changing hands.

Analysts Set New Price Targets

A number of analysts have commented on HIVE shares. Northland Capmk raised HIVE Digital Technologies to a “strong-buy” rating in a report on Thursday, September 19th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $9.00 price objective on shares of HIVE Digital Technologies in a research note on Tuesday. Canaccord Genuity Group upped their price target on shares of HIVE Digital Technologies from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. 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. Finally, Northland Securities upped their target price on HIVE Digital Technologies from $5.50 to $7.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, HIVE Digital Technologies has an average rating of “Moderate Buy” and an average target price of $7.40.

Read Our Latest Stock Report on HIVE Digital Technologies

HIVE Digital Technologies Trading Down 1.6 %

The firm has a market capitalization of $535.21 million, a PE ratio of -30.64 and a beta of 3.43. The firm’s 50-day simple moving average is $3.60 and its 200-day simple moving average is $3.25. The company has a quick ratio of 5.56, a current ratio of 5.56 and a debt-to-equity ratio of 0.06.

HIVE Digital Technologies (NASDAQ:HIVE – Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.03. HIVE Digital Technologies had a negative net margin of 12.04% and a negative return on equity of 10.78%. The firm had revenue of $22.65 million during the quarter, compared to the consensus estimate of $25.32 million. During the same period in the prior year, the firm posted ($0.29) earnings per share. Equities analysts expect that HIVE Digital Technologies Ltd. will post -0.27 earnings per share for the current year.

Institutional Trading of HIVE Digital Technologies

Large investors have recently bought and sold shares of the company. Lifeworks Advisors LLC purchased a new stake in HIVE Digital Technologies in the third quarter worth about $35,000. Vanguard Personalized Indexing Management LLC bought a new position in HIVE Digital Technologies during the second quarter valued at approximately $36,000. Gladstone Institutional Advisory LLC purchased a new position in shares of HIVE Digital Technologies in the 3rd quarter worth $44,000. Quadrature Capital Ltd purchased a new stake in shares of HIVE Digital Technologies during the 3rd quarter valued at about $50,000. Finally, Wellington Management Group LLP purchased a new position in shares of HIVE Digital Technologies during the 3rd quarter worth $120,000. 24.42% of the stock is owned by institutional investors.

HIVE Digital Technologies Company Profile

(Get Free Report)

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.

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