HIVE Digital Technologies (NASDAQ:HIVE) Shares Gap Up – Should You Buy?

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) gapped up prior to trading on Thursday . The stock had previously closed at $3.97, but opened at $4.31. HIVE Digital Technologies shares last traded at $4.1950, with a volume of 9,944,935 shares.

Analysts Set New Price Targets

HIVE has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lifted 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 research note on Friday, June 5th. Weiss Ratings lowered shares of HIVE Digital Technologies from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday. Rosenblatt Securities boosted their price objective on shares of HIVE Digital Technologies from $5.00 to $5.50 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. Northland Securities set a $6.00 price objective on shares of HIVE Digital Technologies in a research report on Wednesday, February 18th. Finally, HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of HIVE Digital Technologies in a research note on Wednesday, June 3rd. Six equities 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $6.90.

HIVE Digital Technologies Stock Performance

The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -7.71 and a beta of 3.74. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.10. The stock has a 50-day simple moving average of $3.21 and a 200-day simple moving average of $2.80.

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

Insider Buying and Selling at HIVE Digital Technologies

In other HIVE Digital Technologies news, Director Susan B. Mcgee sold 16,700 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $4.45, for a total transaction of $74,315.00. Following the completion of the transaction, the director directly owned 208,300 shares of the company’s stock, valued at $926,935. This trade represents a 7.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Luke Rossy sold 215,000 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $3.97, for a total transaction of $853,550.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 298,400 shares of company stock valued at $1,232,684. 9.44% of the stock is owned by company insiders.

Institutional Trading of HIVE Digital Technologies

Several institutional investors and hedge funds have recently bought and sold shares of HIVE. ACT Wealth Management LLC lifted its holdings in HIVE Digital Technologies by 33.3% during the 4th quarter. ACT Wealth Management LLC now owns 16,000 shares of the company’s stock worth $41,000 after buying an additional 4,000 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of HIVE Digital Technologies by 3.5% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 128,801 shares of the company’s stock valued at $519,000 after acquiring an additional 4,351 shares in the last quarter. SBI Securities Co. Ltd. raised its position in shares of HIVE Digital Technologies by 23.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 26,148 shares of the company’s stock valued at $67,000 after acquiring an additional 4,964 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in HIVE Digital Technologies by 98.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 13,996 shares of the company’s stock worth $36,000 after purchasing an additional 6,956 shares during the last quarter. Finally, Captrust Financial Advisors lifted its stake in HIVE Digital Technologies by 10.9% during the fourth quarter. Captrust Financial Advisors now owns 73,849 shares of the company’s stock worth $191,000 after purchasing an additional 7,271 shares during the last quarter. Institutional investors and hedge funds 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.