HIVE Digital Technologies (NASDAQ:HIVE) Trading Up 8.2% – Time to Buy?

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) traded up 8.2% on Friday . The stock traded as high as $4.05 and last traded at $4.0990. 44,832,951 shares were traded during mid-day trading, an increase of 134% from the average daily volume of 19,119,428 shares. The stock had previously closed at $3.79.

Analysts Set New Price Targets

Several equities research analysts recently commented on HIVE shares. Weiss Ratings cut HIVE Digital Technologies from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, June 15th. UBS Group set a $8.00 target price on HIVE Digital Technologies in a research report on Wednesday, June 3rd. Canaccord Genuity Group restated a “buy” rating and set a $10.00 target price on shares of HIVE Digital Technologies in a research note on Friday, June 5th. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target on shares of HIVE Digital Technologies in a report on Wednesday, June 3rd. Finally, B. Riley Financial lifted their price target on shares of HIVE Digital Technologies from $5.00 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.90.

HIVE Digital Technologies Trading Up 9.6%

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 market capitalization of $1.10 billion, a PE ratio of -7.48 and a beta of 3.74. The stock has a 50 day moving average price of $3.47 and a 200-day moving average price of $2.85.

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

Insider Activity

In related news, Director Susan B. Mcgee sold 125,000 shares of the business’s stock in a transaction that occurred on Friday, June 19th. The shares were sold at an average price of $4.25, for a total transaction of $531,250.00. Following the completion of the sale, the director directly owned 125,000 shares in the company, valued at approximately $531,250. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dave Perrill sold 175,000 shares of the company’s stock in a transaction that occurred on Friday, June 19th. The shares were sold at an average price of $4.69, for a total transaction of $820,750.00. Following the sale, the director directly owned 162,500 shares of the company’s stock, 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 valued at $2,937,876 in the last quarter. 9.44% of the stock is currently owned by insiders.

Institutional Investors Weigh In On HIVE Digital Technologies

Hedge funds have recently modified their holdings of the business. UBS Group AG raised its stake in shares of HIVE Digital Technologies by 3,992.2% in the fourth quarter. UBS Group AG now owns 929,390 shares of the company’s stock worth $2,398,000 after buying an additional 906,679 shares during the period. Alight Capital Management LP bought a new position in shares of HIVE Digital Technologies during the 3rd quarter valued at approximately $1,310,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake 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 during the period. R Squared Ltd purchased a new stake in HIVE Digital Technologies in the 3rd quarter worth approximately $45,000. Finally, PKS Advisory Services LLC bought a new stake in HIVE Digital Technologies during the 3rd quarter worth approximately $44,000. Institutional investors 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.