HIVE Digital Technologies (NASDAQ:HIVE) Sees Strong Trading Volume – Should You Buy?

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) shares saw an uptick in trading volume on Tuesday . 4,560,488 shares were traded during mid-day trading, an increase of 16% from the previous session’s volume of 3,936,002 shares.The stock last traded at $3.80 and had previously closed at $3.92.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on HIVE shares. Northland Capmk raised HIVE Digital Technologies to a “strong-buy” rating in a research note on Thursday, September 19th. Northland Securities increased their target price on shares of HIVE Digital Technologies from $5.50 to $7.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Roth Mkm initiated coverage on shares of HIVE Digital Technologies in a report on Thursday. They issued a “buy” rating and a $7.50 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $9.00 target price on shares of HIVE Digital Technologies in a research report on Tuesday, November 19th. Finally, Canaccord Genuity Group raised their price target on HIVE Digital Technologies from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. One analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $7.42.

HIVE Digital Technologies Trading Up 1.8 %

The company has a debt-to-equity ratio of 0.06, a current ratio of 5.56 and a quick ratio of 5.56. The stock has a market cap of $465.81 million, a price-to-earnings ratio of -24.71 and a beta of 3.39. The business’s 50 day moving average is $3.97 and its 200 day moving average is $3.46.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. The firm had revenue of $22.65 million during the quarter, compared to analysts’ expectations of $25.32 million. HIVE Digital Technologies had a negative net margin of 12.04% and a negative return on equity of 10.78%. During the same period in the previous year, the company earned ($0.29) earnings per share. As a group, equities analysts expect that HIVE Digital Technologies Ltd. will post -0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On HIVE Digital Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp increased its stake in HIVE Digital Technologies by 35.4% in the 2nd quarter. Van ECK Associates Corp now owns 3,894,605 shares of the company’s stock valued at $11,995,000 after buying an additional 1,018,231 shares during the period. Impact Partnership Wealth LLC increased its stake in shares of 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 acquiring an additional 32,760 shares during the period. Vanguard Personalized Indexing Management LLC purchased a new position in HIVE Digital Technologies during the second quarter worth about $36,000. Gladstone Institutional Advisory LLC acquired a new stake in HIVE Digital Technologies in the third quarter valued at about $44,000. Finally, Lifeworks Advisors LLC purchased a new stake in HIVE Digital Technologies in the 3rd quarter valued at approximately $35,000. Hedge funds and other institutional investors own 24.42% of the company’s stock.

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.