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

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) shares gapped up prior to trading on Friday . The stock had previously closed at $3.36, but opened at $3.51. HIVE Digital Technologies shares last traded at $3.3850, with a volume of 4,130,637 shares traded.

Analyst Ratings Changes

HIVE has been the subject of several research reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $10.00 target price on shares of HIVE Digital Technologies in a research report on Friday, June 5th. Cantor Fitzgerald set a $7.00 price objective on HIVE Digital Technologies in a research note on Thursday, June 4th. Keefe, Bruyette & Woods raised their price objective on shares of HIVE Digital Technologies from $3.00 to $5.00 and gave the company a “market perform” rating in a report on Friday, June 5th. B. Riley Financial raised their price objective on shares of HIVE Digital Technologies from $5.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. Finally, Weiss Ratings lowered shares of HIVE Digital Technologies from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, June 15th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $6.90.

HIVE Digital Technologies Stock Down 1.6%

The firm has a market capitalization of $874.00 million, a price-to-earnings ratio of -5.96 and a beta of 3.77. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a fifty day moving average of $3.67 and a two-hundred day moving average of $2.88.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its earnings results on Tuesday, June 2nd. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.07). HIVE Digital Technologies had a negative return on equity of 23.12% and a negative net margin of 49.21%.The company had revenue of $71.82 million for the quarter, compared to analyst estimates of $79.99 million. Sell-side analysts anticipate that HIVE Digital Technologies Ltd. will post -0.74 earnings per share for the current year.

Insider Transactions at HIVE Digital Technologies

In related news, COO Luke Rossy sold 215,000 shares of HIVE Digital Technologies stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $3.97, for a total value of $853,550.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Dave Perrill sold 175,000 shares of HIVE Digital Technologies stock in a transaction that occurred on Friday, June 19th. The stock was sold at an average price of $4.69, for a total value of $820,750.00. Following the completion of the transaction, the director directly owned 162,500 shares in the company, valued at approximately $762,125. This represents a 51.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 681,700 shares of company stock worth $2,937,876 over the last ninety days. 9.44% of the stock is owned by insiders.

Hedge Funds Weigh In On HIVE Digital Technologies

Hedge funds have recently bought and sold shares of the company. UBS Group AG boosted its position in HIVE Digital Technologies by 3,992.2% during the fourth quarter. UBS Group AG now owns 929,390 shares of the company’s stock valued at $2,398,000 after acquiring an additional 906,679 shares during the last quarter. Alight Capital Management LP bought a new position in shares of HIVE Digital Technologies in the 3rd quarter worth about $1,310,000. Stillwater Private Wealth LLC bought a new position in shares of HIVE Digital Technologies in the 1st quarter worth about $38,000. Situational Awareness LP bought a new position in shares of HIVE Digital Technologies in the 1st quarter worth about $6,444,000. Finally, CI Investments Inc. lifted its stake in shares of HIVE Digital Technologies by 37.9% in the 1st quarter. CI Investments Inc. now owns 54,429 shares of the company’s stock valued at $103,000 after purchasing an additional 14,964 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.