HIVE Digital Technologies (NASDAQ:HIVE) Shares Gap Down – Time to Sell?

HIVE Digital Technologies Ltd. (NASDAQ:HIVE)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $2.79, but opened at $2.61. HIVE Digital Technologies shares last traded at $2.61, with a volume of 4,009,091 shares traded.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HIVE. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $3.50 price objective (down from $11.00) on shares of HIVE Digital Technologies in a research note on Tuesday, January 27th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $10.00 price target on shares of HIVE Digital Technologies in a research note on Tuesday, November 18th. Canaccord Genuity Group reiterated a “buy” rating and issued a $10.00 price objective on shares of HIVE Digital Technologies in a research report on Friday, November 21st. HC Wainwright raised their target price on shares of HIVE Digital Technologies from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, November 18th. Finally, B. Riley cut their target price on HIVE Digital Technologies from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, November 21st. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, HIVE Digital Technologies has an average rating of “Moderate Buy” and an average target price of $7.63.

HIVE Digital Technologies Price Performance

The stock has a market cap of $638.29 million, a P/E ratio of -12.17 and a beta of 3.58. The business’s 50 day moving average price is $3.04 and its two-hundred day moving average price is $3.49. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.02.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its quarterly earnings data on Friday, November 14th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The firm had revenue of $83.37 million for the quarter, compared to the consensus estimate of $80.62 million. HIVE Digital Technologies had a negative net margin of 16.18% and a negative return on equity of 14.15%. As a group, sell-side analysts expect that HIVE Digital Technologies Ltd. will post -0.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On HIVE Digital Technologies

Hedge funds have recently bought and sold shares of the business. Tidal Investments LLC boosted its position in shares of HIVE Digital Technologies by 15.4% in the 3rd quarter. Tidal Investments LLC now owns 4,771,312 shares of the company’s stock worth $19,228,000 after purchasing an additional 637,679 shares in the last quarter. Two Sigma Investments LP purchased a new position in shares of HIVE Digital Technologies in the 3rd quarter worth $17,584,000. Vident Advisory LLC grew its holdings in shares of HIVE Digital Technologies by 53.0% in the second quarter. Vident Advisory LLC now owns 3,766,446 shares of the company’s stock worth $6,780,000 after acquiring an additional 1,305,057 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in HIVE Digital Technologies by 55.0% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,780,876 shares of the company’s stock valued at $11,212,000 after acquiring an additional 987,314 shares during the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. increased its position in HIVE Digital Technologies by 20.0% during the third quarter. Generali Investments CEE investicni spolecnost a.s. now owns 1,492,481 shares of the company’s stock valued at $6,015,000 after acquiring an additional 248,251 shares during the last quarter. 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.