HIVE Digital Technologies (NASDAQ:HIVE) Reaches New 12-Month Low – Here’s What Happened

HIVE Digital Technologies Ltd. (NASDAQ:HIVE)’s share price hit a new 52-week low during mid-day trading on Monday. The company traded as low as $1.67 and last traded at $1.71, with a volume of 11,346,475 shares. The stock had previously closed at $1.91.

Analysts Set New Price Targets

Several research firms have recently commented on HIVE. Rosenblatt Securities increased their price objective on HIVE Digital Technologies from $5.50 to $6.00 and gave the company a “buy” rating in a report on Thursday, August 20th. HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of HIVE Digital Technologies in a report on Monday, August 17th. Weiss Ratings raised shares of HIVE Digital Technologies from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, August 14th. Chardan Capital reiterated a “buy” rating and issued a $7.50 price target on shares of HIVE Digital Technologies in a research note on Wednesday, September 16th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $10.00 target price on shares of HIVE Digital Technologies in a report on Monday, October 19th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.95.

HIVE Digital Technologies Stock Up 0.6%

The firm has a fifty day simple moving average of $2.65 and a 200-day simple moving average of $2.82. The firm has a market cap of $502.72 million, a price-to-earnings ratio of -1.41 and a beta of 3.76. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.96 and a current ratio of 1.96.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.33). The company had revenue of $79.12 million during the quarter, compared to analyst estimates of $81.72 million. HIVE Digital Technologies had a negative net margin of 98.49% and a negative return on equity of 31.98%. During the same quarter in the prior year, the firm earned $0.18 earnings per share. As a group, sell-side analysts expect that HIVE Digital Technologies Ltd. will post -0.66 EPS for the current year.

Insider Activity at HIVE Digital Technologies

In related news, Director Dave Perrill sold 12,500 shares of HIVE Digital Technologies stock in a transaction dated Wednesday, October 7th. The shares were sold at an average price of $2.75, for a total transaction of $34,375.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 9.44% of the company’s stock.

Institutional Investors Weigh In On HIVE Digital Technologies

Several hedge funds have recently bought and sold shares of the stock. Private Advisor Group LLC bought a new stake in shares of HIVE Digital Technologies during the first quarter worth approximately $27,000. Stillwater Private Wealth LLC bought a new position in shares of HIVE Digital Technologies during the first quarter worth approximately $38,000. StoneX Group Inc. bought a new position in shares of HIVE Digital Technologies during the third quarter worth approximately $40,000. Verity Asset Management Inc. bought a new position in shares of HIVE Digital Technologies during the second quarter worth approximately $44,000. Finally, Kellett Wealth Advisors LLC lifted its holdings in HIVE Digital Technologies by 80.0% during the 3rd quarter. Kellett Wealth Advisors LLC now owns 18,000 shares of the company’s stock worth $53,000 after purchasing an additional 8,000 shares during the last quarter. 24.42% of the stock is currently owned by institutional investors and hedge funds.

HIVE Digital Technologies Company Profile

HIVE Digital Technologies Ltd. is a digital asset infrastructure company focused primarily on Bitcoin mining and the operation of data centers. The company uses specialized computing equipment and energy infrastructure to support cryptocurrency mining, while also developing facilities designed to accommodate high-performance computing and artificial intelligence applications.

Founded as HIVE Blockchain Technologies, the company adopted the HIVE Digital Technologies name in 2023 to reflect its broader focus beyond cryptocurrency mining.