Stock Traders Purchase High Volume of HIVE Digital Technologies Call Options (NASDAQ:HIVE)

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) was the target of some unusual options trading on Monday. Investors acquired 60,241 call options on the stock. This is an increase of 964% compared to the typical volume of 5,663 call options.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Bastion Asset Management Inc. purchased a new position in HIVE Digital Technologies during the 3rd quarter valued at about $1,175,000. Alight Capital Management LP bought a new position in HIVE Digital Technologies during the 3rd quarter valued at approximately $1,310,000. Leonteq Securities AG bought a new position in HIVE Digital Technologies during the 4th quarter valued at approximately $168,000. Duncan Williams Asset Management LLC bought a new position in HIVE Digital Technologies during the 4th quarter valued at approximately $42,000. Finally, Phoenix Financial Ltd. raised its position 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 purchasing an additional 24,769 shares during the last quarter. Hedge funds and other institutional investors own 24.42% of the company’s stock.

HIVE Digital Technologies Trading Down 9.1%

Shares of HIVE traded down $0.32 during trading hours on Tuesday, hitting $3.14. The company had a trading volume of 23,994,866 shares, compared to its average volume of 14,043,487. The firm has a market cap of $831.42 million, a P/E ratio of -5.21 and a beta of 3.50. The stock’s 50 day moving average price is $2.31 and its 200 day moving average price is $2.81. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.02. HIVE Digital Technologies has a 52-week low of $1.60 and a 52-week high of $7.84.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on HIVE shares. Canaccord Genuity Group reissued a “buy” rating and set a $10.00 price objective on shares of HIVE Digital Technologies in a report on Friday, April 24th. Rosenblatt Securities reduced their price objective on HIVE Digital Technologies from $6.50 to $4.50 and set a “buy” rating for the company in a report on Wednesday, February 18th. New Street Research set a $5.00 price objective on HIVE Digital Technologies in a report on Thursday, February 19th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of HIVE Digital Technologies in a report on Monday, May 11th. Finally, B. Riley Financial cut their price target on HIVE Digital Technologies from $7.00 to $6.00 and set a “buy” rating for the company in a report on Friday, February 13th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $6.34.

HIVE Digital Technologies Company Profile

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.