Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Get Free Report) saw an uptick in trading volume on Tuesday . 32,752,307 shares changed hands during trading, an increase of 231% from the previous session's volume of 9,900,394 shares.The stock last traded at $2.49 and had previously closed at $2.27.
Analyst Ratings Changes
A number of research firms recently issued reports on HIVE. HC Wainwright dropped their target price on shares of HIVE Digital Technologies from $9.00 to $6.00 and set a "buy" rating on the stock in a research report on Friday, June 27th. Wall Street Zen upgraded HIVE Digital Technologies to a "sell" rating in a report on Saturday, May 17th. Cantor Fitzgerald lifted their price target on shares of HIVE Digital Technologies from $5.00 to $5.50 and gave the company an "overweight" rating in a research report on Friday, June 27th. Canaccord Genuity Group restated a "buy" rating and set a $9.00 price target on shares of HIVE Digital Technologies in a research note on Thursday, July 3rd. Finally, Rosenblatt Securities dropped their price objective on shares of HIVE Digital Technologies from $5.50 to $5.00 and set a "buy" rating on the stock in a research note on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $6.67.
Read Our Latest Report on HIVE
HIVE Digital Technologies Stock Down 3.4%
The stock has a 50-day moving average of $2.03 and a 200 day moving average of $2.09. The company has a market capitalization of $512.59 million, a PE ratio of -6.31 and a beta of 3.40. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 0.03.
HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last posted its quarterly earnings results on Wednesday, June 25th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.20). The company had revenue of $31.16 million for the quarter, compared to the consensus estimate of $31.47 million. HIVE Digital Technologies had a negative net margin of 48.65% and a negative return on equity of 20.30%. Sell-side analysts anticipate that HIVE Digital Technologies Ltd. will post -0.32 EPS for the current year.
Hedge Funds Weigh In On HIVE Digital Technologies
Several institutional investors have recently bought and sold shares of HIVE. Generali Investments CEE investicni spolecnost a.s. raised its stake in shares of HIVE Digital Technologies by 18.5% in the first quarter. Generali Investments CEE investicni spolecnost a.s. now owns 855,950 shares of the company's stock valued at $1,241,000 after buying an additional 133,840 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in HIVE Digital Technologies by 126.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 736,287 shares of the company's stock worth $2,098,000 after acquiring an additional 411,071 shares during the last quarter. Man Group plc bought a new stake in HIVE Digital Technologies in the 4th quarter valued at about $1,118,000. Vident Advisory LLC lifted its holdings in HIVE Digital Technologies by 26.1% during the fourth quarter. Vident Advisory LLC now owns 2,831,492 shares of the company's stock valued at $8,072,000 after purchasing an additional 585,511 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in HIVE Digital Technologies during the fourth quarter valued at about $811,000. Hedge funds and other institutional investors own 24.42% of the company's stock.
About HIVE Digital Technologies
(
Get Free Report)
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.
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