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

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) shares gapped up prior to trading on Friday . The stock had previously closed at $2.08, but opened at $2.17. HIVE Digital Technologies shares last traded at $2.2350, with a volume of 2,375,406 shares.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Canaccord Genuity Group reissued a “buy” rating and set a $10.00 price target on shares of HIVE Digital Technologies in a research report on Friday, November 21st. Northland Securities set a $6.00 price objective on shares of HIVE Digital Technologies in a research report on Wednesday, February 18th. Wall Street Zen lowered shares of HIVE Digital Technologies from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. HC Wainwright restated a “buy” rating on shares of HIVE Digital Technologies in a report on Tuesday, February 17th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of HIVE Digital Technologies in a research report on Wednesday, January 28th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $6.39.

HIVE Digital Technologies Trading Up 3.7%

The business’s 50-day simple moving average is $2.59 and its two-hundred day simple moving average is $3.47. The firm has a market capitalization of $549.67 million, a price-to-earnings ratio of -3.59 and a beta of 3.61. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.02.

Institutional Investors Weigh In On HIVE Digital Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd grew its holdings in shares of HIVE Digital Technologies by 98.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 13,996 shares of the company’s stock valued at $36,000 after purchasing an additional 6,956 shares in the last quarter. Virtu Financial LLC purchased a new position in HIVE Digital Technologies in the fourth quarter worth approximately $78,000. Compound Planning Inc. acquired a new position in HIVE Digital Technologies during the 4th quarter worth approximately $36,000. Vident Advisory LLC increased its position in shares of HIVE Digital Technologies by 33.6% in the 4th quarter. Vident Advisory LLC now owns 4,327,141 shares of the company’s stock valued at $11,164,000 after purchasing an additional 1,087,224 shares during the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of HIVE Digital Technologies by 1,885.8% in the 4th quarter. NewEdge Advisors LLC now owns 9,929 shares of the company’s stock valued at $26,000 after purchasing an additional 9,429 shares during the last quarter. Hedge funds and other 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.