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

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) shares gapped up prior to trading on Wednesday . The stock had previously closed at $2.10, but opened at $2.24. HIVE Digital Technologies shares last traded at $2.28, with a volume of 1,845,715 shares traded.

Wall Street Analyst Weigh In

A number of research firms have weighed in on HIVE. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $10.00 price objective on shares of HIVE Digital Technologies in a research note on Friday, November 21st. HC Wainwright reaffirmed a “buy” rating on shares of HIVE Digital Technologies in a research report on Tuesday, February 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $5.00 target price on shares of HIVE Digital Technologies in a report on Monday, February 23rd. Rosenblatt Securities decreased their price objective on shares of HIVE Digital Technologies from $6.50 to $4.50 and set a “buy” rating for the company in a research note on Wednesday, February 18th. Finally, Northland Securities set a $6.00 target price on HIVE Digital Technologies in a report on Wednesday, February 18th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $6.39.

HIVE Digital Technologies Price Performance

The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.02. The stock has a market cap of $558.78 million, a PE ratio of -3.67 and a beta of 3.61. The business has a 50-day moving average price of $2.65 and a 200 day moving average price of $3.48.

Institutional Investors Weigh In On HIVE Digital Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of HIVE. ACT Wealth Management LLC boosted its holdings in shares of HIVE Digital Technologies by 33.3% in the fourth quarter. ACT Wealth Management LLC now owns 16,000 shares of the company’s stock worth $41,000 after acquiring an additional 4,000 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in HIVE Digital Technologies by 3.5% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 128,801 shares of the company’s stock worth $519,000 after purchasing an additional 4,351 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in HIVE Digital Technologies by 21.4% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 25,388 shares of the company’s stock valued at $102,000 after buying an additional 4,472 shares in the last quarter. SBI Securities Co. Ltd. increased its position in shares of HIVE Digital Technologies by 23.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 26,148 shares of the company’s stock valued at $67,000 after buying an additional 4,964 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its position 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 acquiring an additional 6,956 shares during the period. Institutional investors own 24.42% of the company’s stock.

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.