HIVE Digital Technologies (NASDAQ:HIVE) Shares Gap Up – Here’s What Happened

HIVE Digital Technologies Ltd. (NASDAQ:HIVE)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $4.11, but opened at $4.28. HIVE Digital Technologies shares last traded at $4.29, with a volume of 1,439,173 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms recently commented on HIVE. Northland Securities began coverage on HIVE Digital Technologies in a report on Thursday, September 19th. They set an “outperform” rating and a $5.50 price target for the company. Northland Capmk raised HIVE Digital Technologies to a “strong-buy” rating in a report on Thursday, September 19th. HC Wainwright raised HIVE Digital Technologies from a “neutral” rating to a “buy” rating and raised their price target for the company from $4.00 to $5.00 in a report on Thursday, August 15th. B. Riley assumed coverage on shares of HIVE Digital Technologies in a report on Friday, July 19th. They issued a “buy” rating and a $6.00 price objective on the stock. Finally, Canaccord Genuity Group restated a “buy” rating and set a $6.00 target price on shares of HIVE Digital Technologies in a research note on Wednesday, August 21st. One analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $6.25.

HIVE Digital Technologies Stock Down 0.2 %

The company has a current ratio of 7.35, a quick ratio of 7.35 and a debt-to-equity ratio of 0.06. The stock has a market cap of $515.25 million, a P/E ratio of -11.54 and a beta of 3.48. The firm has a 50-day simple moving average of $3.26 and a two-hundred day simple moving average of $3.09.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.08) EPS for the quarter, hitting analysts’ consensus estimates of ($0.08). The business had revenue of $32.24 million for the quarter, compared to analyst estimates of $31.85 million. HIVE Digital Technologies had a negative net margin of 25.74% and a negative return on equity of 20.88%. Equities research analysts expect that HIVE Digital Technologies Ltd. will post -0.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On HIVE Digital Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in HIVE. Vanguard Personalized Indexing Management LLC acquired a new position in HIVE Digital Technologies in the 2nd quarter valued at $36,000. Gladstone Institutional Advisory LLC acquired a new position in HIVE Digital Technologies in the third quarter valued at about $44,000. Impact Partnership Wealth LLC lifted its position in HIVE Digital Technologies by 202.4% during the second quarter. Impact Partnership Wealth LLC now owns 48,945 shares of the company’s stock worth $151,000 after purchasing an additional 32,760 shares during the period. Vident Advisory LLC grew its stake in HIVE Digital Technologies by 78.6% during the first quarter. Vident Advisory LLC now owns 1,737,308 shares of the company’s stock worth $5,856,000 after buying an additional 764,387 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in HIVE Digital Technologies by 56.0% in the 1st quarter. Van ECK Associates Corp now owns 2,876,374 shares of the company’s stock valued at $9,693,000 after buying an additional 1,032,672 shares during the period. 24.42% of the stock is currently owned by institutional investors and hedge funds.

HIVE Digital Technologies Company Profile

HIVE Digital Technologies Ltd. operates as a cryptocurrency mining company in Canada, Sweden, and Iceland. The company engages in the mining and sale of digital currencies, including Ethereum Classic, Bitcoin, and other coins. It also operates data centers; and offers infrastructure solutions. The company was formerly known as HIVE Blockchain Technologies Ltd.