HIVE Digital Technologies (NASDAQ:HIVE) Shares Gap Up – Time to Buy?

HIVE Digital Technologies Ltd. (NASDAQ:HIVE)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $2.01, but opened at $2.22. HIVE Digital Technologies shares last traded at $2.2450, with a volume of 2,188,694 shares traded.

Analyst Ratings Changes

Several brokerages recently issued reports on HIVE. Rosenblatt Securities reaffirmed a “buy” rating and set a $10.00 price objective on shares of HIVE Digital Technologies in a report on Tuesday, November 18th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $3.50 price target (down previously from $11.00) on shares of HIVE Digital Technologies in a research note on Tuesday, January 27th. Weiss Ratings reiterated a “sell (d+)” rating on shares of HIVE Digital Technologies in a research report on Wednesday, January 28th. B. Riley lowered their price target on shares of HIVE Digital Technologies from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, November 21st. Finally, Wall Street Zen downgraded HIVE Digital Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, HIVE Digital Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $7.63.

HIVE Digital Technologies Stock Up 15.7%

The firm has a 50-day moving average of $2.97 and a two-hundred day moving average of $3.48. The firm has a market capitalization of $580.83 million, a PE ratio of -11.12 and a beta of 3.58. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.02.

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 firm had revenue of $83.37 million for the quarter, compared to analysts’ expectations of $80.62 million. HIVE Digital Technologies had a negative return on equity of 14.15% and a negative net margin of 16.18%. On average, equities research analysts forecast that HIVE Digital Technologies Ltd. will post -0.32 EPS for the current year.

Hedge Funds Weigh In On HIVE Digital Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Leonteq Securities AG purchased a new position in shares of HIVE Digital Technologies during the 4th quarter valued at approximately $168,000. Duncan Williams Asset Management LLC acquired a new stake in HIVE Digital Technologies in the fourth quarter valued at $42,000. Phoenix Financial Ltd. boosted its stake in HIVE Digital Technologies by 23.5% during the 4th quarter. Phoenix Financial Ltd. now owns 130,319 shares of the company’s stock valued at $336,000 after acquiring an additional 24,769 shares during the last quarter. Ground Swell Capital LLC acquired a new position in HIVE Digital Technologies during the 4th quarter worth $27,000. Finally, Chesapeake Capital Corp IL grew its holdings in HIVE Digital Technologies by 36.5% during the 4th quarter. Chesapeake Capital Corp IL now owns 39,736 shares of the company’s stock worth $103,000 after acquiring an additional 10,636 shares in the last quarter. 24.42% of the stock is owned by institutional investors and hedge funds.

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.