HIVE Digital Technologies (NASDAQ:HIVE) Shares Gap Up – Here’s What Happened

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) gapped up before the market opened on Monday . The stock had previously closed at $4.70, but opened at $5.04. HIVE Digital Technologies shares last traded at $4.7450, with a volume of 5,134,756 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have weighed in on HIVE shares. Rosenblatt Securities boosted their target price on shares of HIVE Digital Technologies from $5.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Zacks Research upgraded shares of HIVE Digital Technologies to a “hold” rating in a research report on Friday, August 8th. Canaccord Genuity Group restated a “buy” rating and set a $10.00 price target on shares of HIVE Digital Technologies in a research report on Monday, October 13th. Wall Street Zen raised shares of HIVE Digital Technologies from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 16th. Finally, HC Wainwright restated a “buy” rating and issued a $8.00 price target on shares of HIVE Digital Technologies in a research note on Wednesday, October 29th. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.00.

HIVE Digital Technologies Stock Performance

The firm has a 50 day moving average of $4.65 and a two-hundred day moving average of $2.98. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.42 and a quick ratio of 3.42. The stock has a market cap of $1.13 billion, a PE ratio of -23.72 and a beta of 3.54.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. The business had revenue of $45.61 million during the quarter, compared to the consensus estimate of $45.16 million. HIVE Digital Technologies had a negative net margin of 17.47% and a negative return on equity of 17.39%. Research analysts predict that HIVE Digital Technologies Ltd. will post -0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On HIVE Digital Technologies

Several large investors have recently modified their holdings of HIVE. Charles Schwab Investment Management Inc. increased its stake in HIVE Digital Technologies by 87.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,383,446 shares of the company’s stock valued at $2,006,000 after purchasing an additional 647,159 shares during the period. Generali Investments CEE investicni spolecnost a.s. increased its position in HIVE Digital Technologies by 45.4% in the 2nd quarter. Generali Investments CEE investicni spolecnost a.s. now owns 1,244,230 shares of the company’s stock valued at $2,240,000 after acquiring an additional 388,280 shares during the period. Chicago Partners Investment Group LLC acquired a new position in HIVE Digital Technologies in the 2nd quarter valued at about $139,000. Goldman Sachs Group Inc. increased its holdings in shares of HIVE Digital Technologies by 328.2% in the first quarter. Goldman Sachs Group Inc. now owns 520,877 shares of the company’s stock valued at $755,000 after purchasing an additional 399,223 shares during the period. Finally, Harvest Portfolios Group Inc. increased its holdings in shares of HIVE Digital Technologies by 38.0% in the second quarter. Harvest Portfolios Group Inc. now owns 64,725 shares of the company’s stock valued at $117,000 after purchasing an additional 17,821 shares during the period. 24.42% of the stock is owned by institutional investors and hedge funds.

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.