HIVE Digital Technologies (NASDAQ:HIVE) Trading Down 8.9% – Time to Sell?

HIVE Digital Technologies Ltd. (NASDAQ:HIVE)’s share price traded down 8.9% during mid-day trading on Tuesday . The company traded as low as $3.16 and last traded at $3.1610. 3,314,642 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 13,608,678 shares. The stock had previously closed at $3.47.

Analyst Ratings Changes

A number of analysts have recently commented on HIVE shares. Rosenblatt Securities restated a “buy” rating and set a $10.00 price objective on shares of HIVE Digital Technologies in a report on Tuesday, November 18th. Wall Street Zen lowered HIVE Digital Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. HC Wainwright lifted their price objective 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. Canaccord Genuity Group reiterated a “buy” rating and issued a $10.00 price target on shares of HIVE Digital Technologies in a report on Friday, November 21st. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of HIVE Digital Technologies in a research note on Friday, October 31st. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, HIVE Digital Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.21.

HIVE Digital Technologies Stock Down 7.3%

The company has a debt-to-equity ratio of 0.02, a current ratio of 2.55 and a quick ratio of 2.55. The stock has a market capitalization of $791.26 million, a price-to-earnings ratio of -15.31 and a beta of 3.58. The firm’s fifty day moving average is $3.13 and its 200-day moving average is $3.44.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its earnings results on Friday, November 14th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The company had revenue of $83.37 million during the quarter, compared to analyst estimates of $80.62 million. HIVE Digital Technologies had a negative net margin of 16.18% and a negative return on equity of 14.15%. On average, sell-side analysts predict that HIVE Digital Technologies Ltd. will post -0.32 earnings per share for the current year.

Institutional Trading of HIVE Digital Technologies

Several institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC lifted its position in shares of HIVE Digital Technologies by 15.4% in the 3rd quarter. Tidal Investments LLC now owns 4,771,312 shares of the company’s stock worth $19,228,000 after buying an additional 637,679 shares during the last quarter. Two Sigma Investments LP acquired a new stake in HIVE Digital Technologies during the third quarter worth about $17,584,000. Vident Advisory LLC lifted its holdings in HIVE Digital Technologies by 53.0% in the second quarter. Vident Advisory LLC now owns 3,766,446 shares of the company’s stock worth $6,780,000 after acquiring an additional 1,305,057 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in HIVE Digital Technologies by 55.0% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,780,876 shares of the company’s stock worth $11,212,000 after acquiring an additional 987,314 shares during the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. boosted its stake in HIVE Digital Technologies by 20.0% in the third quarter. Generali Investments CEE investicni spolecnost a.s. now owns 1,492,481 shares of the company’s stock valued at $6,015,000 after acquiring an additional 248,251 shares during the period. Institutional investors own 24.42% of the company’s stock.

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.