HIVE Digital Technologies (NASDAQ:HIVE) Shares Gap Up – Still a Buy?

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) gapped up prior to trading on Wednesday . The stock had previously closed at $3.66, but opened at $3.80. HIVE Digital Technologies shares last traded at $3.97, with a volume of 4,545,052 shares changing hands.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Northland Securities boosted their price target on HIVE Digital Technologies from $5.50 to $7.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Cantor Fitzgerald restated an “overweight” rating and issued a $9.00 price target on shares of HIVE Digital Technologies in a research report on Tuesday, November 19th. HC Wainwright boosted their price target on HIVE Digital Technologies from $5.00 to $8.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Canaccord Genuity Group boosted their target price 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. Finally, Northland Capmk upgraded HIVE Digital Technologies to a “strong-buy” rating in a research report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $7.40.

HIVE Digital Technologies Trading Up 10.9 %

The firm has a market cap of $514.93 million, a price-to-earnings ratio of -28.86 and a beta of 3.43. The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.56 and a current ratio of 5.56. The business has a fifty day moving average of $3.69 and a two-hundred day moving average of $3.30.

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

Institutional Investors Weigh In On HIVE Digital Technologies

A number of institutional investors and hedge funds have recently modified their holdings of HIVE. Lifeworks Advisors LLC acquired a new stake in shares of HIVE Digital Technologies in the 3rd quarter worth approximately $35,000. Vanguard Personalized Indexing Management LLC purchased a new stake in HIVE Digital Technologies in the 2nd quarter valued at approximately $36,000. Gladstone Institutional Advisory LLC purchased a new stake in HIVE Digital Technologies in the 3rd quarter valued at approximately $44,000. Quadrature Capital Ltd purchased a new stake in HIVE Digital Technologies in the 3rd quarter valued at approximately $50,000. Finally, Wellington Management Group LLP purchased a new stake in HIVE Digital Technologies in the 3rd quarter valued at approximately $120,000. Institutional investors and hedge funds own 24.42% of the company’s stock.

About HIVE Digital Technologies

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.