HIVE Digital Technologies (NASDAQ:HIVE) Shares Gap Down – What’s Next?

by · The Markets Daily

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE – Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $3.36, but opened at $3.12. HIVE Digital Technologies shares last traded at $3.1250, with a volume of 3,882,126 shares trading hands.

Analyst Upgrades and Downgrades

HIVE has been the subject of several analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of HIVE Digital Technologies in a research report on Friday, October 31st. HC Wainwright increased their target price on HIVE Digital Technologies from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Wall Street Zen cut HIVE Digital Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Zacks Research raised HIVE Digital Technologies to a “hold” rating in a report on Friday, August 8th. Finally, Northland Securities set a $7.50 price objective on HIVE Digital Technologies in a report on Tuesday, October 7th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $8.13.

Get Our Latest Report on HIVE

HIVE Digital Technologies Stock Down 7.3%

The company’s 50 day moving average price is $4.71 and its two-hundred day moving average price is $3.16. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.02. The firm has a market cap of $740.47 million, a PE ratio of -14.82 and a beta of 3.57.

HIVE Digital Technologies (NASDAQ:HIVE – Get Free Report) last announced its earnings results on Friday, November 14th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). HIVE Digital Technologies had a negative return on equity of 14.15% and a negative net margin of 16.18%.The company had revenue of $83.37 million during the quarter, compared to the consensus estimate of $80.62 million. On average, equities research analysts expect that HIVE Digital Technologies Ltd. will post -0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On HIVE Digital Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd boosted its stake in HIVE Digital Technologies by 3,966.3% during the first quarter. Caitong International Asset Management Co. Ltd now owns 24,845 shares of the company’s stock valued at $36,000 after buying an additional 24,234 shares during the last quarter. Ethos Financial Group LLC purchased a new position in shares of HIVE Digital Technologies in the second quarter valued at $36,000. Vanguard Personalized Indexing Management LLC bought a new stake in HIVE Digital Technologies in the second quarter worth $38,000. WMG Financial Advisors LLC purchased a new stake in HIVE Digital Technologies during the third quarter valued at $40,000. Finally, HBW Advisory Services LLC purchased a new stake in HIVE Digital Technologies during the third quarter valued at $40,000. Institutional investors own 24.42% of the company’s stock.

About HIVE Digital Technologies

(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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