HIVE Digital Technologies (NASDAQ:HIVE) Sees Large Volume Increase – Should You Buy?

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) shares saw unusually-high trading volume on Tuesday . Approximately 15,243,027 shares traded hands during trading, an increase of 9% from the previous session’s volume of 14,000,031 shares.The stock last traded at $3.2850 and had previously closed at $3.46.

Analyst Ratings Changes

Several brokerages have weighed in on HIVE. Rosenblatt Securities cut their price target on HIVE Digital Technologies from $6.50 to $4.50 and set a “buy” rating on the stock in a research report on Wednesday, February 18th. New Street Research set a $5.00 target price on HIVE Digital Technologies in a research note on Thursday, February 19th. Cantor Fitzgerald raised their target price on HIVE Digital Technologies from $3.00 to $4.60 and gave the stock an “overweight” rating in a report on Tuesday. Canaccord Genuity Group reiterated a “buy” rating and set a $10.00 price target on shares of HIVE Digital Technologies in a research report on Friday, April 24th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of HIVE Digital Technologies in a report on Monday, May 11th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $6.34.

HIVE Digital Technologies Stock Down 3.2%

The firm has a market cap of $885.64 million, a price-to-earnings ratio of -5.59 and a beta of 3.50. The business has a fifty day simple moving average of $2.31 and a 200 day simple moving average of $2.81. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.74 and a quick ratio of 1.74.

Institutional Investors Weigh In On HIVE Digital Technologies

Large investors have recently modified their holdings of the business. ACT Wealth Management LLC lifted its position in HIVE Digital Technologies by 33.3% during the fourth 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 in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted 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 during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of HIVE Digital Technologies by 21.4% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 25,388 shares of the company’s stock valued at $102,000 after purchasing an additional 4,472 shares during the period. SBI Securities Co. Ltd. grew its holdings in shares of HIVE Digital Technologies by 23.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 26,148 shares of the company’s stock valued at $67,000 after purchasing an additional 4,964 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its position 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. Hedge funds and other 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.