HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Get Free Report)'s share price fell 4.2% during mid-day trading on Wednesday . The company traded as low as $2.39 and last traded at $2.40. 2,494,574 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 9,919,791 shares. The stock had previously closed at $2.50.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on HIVE. Wall Street Zen raised shares of HIVE Digital Technologies to a "sell" rating in a report on Saturday, May 17th. HC Wainwright lowered their price target on shares of HIVE Digital Technologies from $9.00 to $6.00 and set a "buy" rating on the stock in a report on Friday, June 27th. Cantor Fitzgerald increased their price target on shares of HIVE Digital Technologies from $5.00 to $5.50 and gave the stock an "overweight" rating in a report on Friday, June 27th. Rosenblatt Securities lowered their price target on shares of HIVE Digital Technologies from $5.50 to $5.00 and set a "buy" rating on the stock in a report on Friday, June 27th. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $9.00 price target on shares of HIVE Digital Technologies in a report on Thursday, July 3rd. One analyst has rated the stock with a sell rating, seven have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $6.67.
View Our Latest Stock Analysis on HIVE Digital Technologies
HIVE Digital Technologies Trading Down 3.4%
The firm has a market capitalization of $512.59 million, a P/E 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. The firm's 50-day simple moving average is $2.03 and its 200-day simple moving average is $2.09.
HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last announced its earnings results on Wednesday, June 25th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.20). HIVE Digital Technologies had a negative net margin of 48.65% and a negative return on equity of 20.30%. The company had revenue of $31.16 million for the quarter, compared to the consensus estimate of $31.47 million. Analysts anticipate that HIVE Digital Technologies Ltd. will post -0.32 EPS for the current year.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in the business. Vanguard Personalized Indexing Management LLC purchased a new position in shares of HIVE Digital Technologies during the second quarter worth approximately $38,000. Generali Investments CEE investicni spolecnost a.s. raised its stake in shares of HIVE Digital Technologies by 45.4% during the second quarter. Generali Investments CEE investicni spolecnost a.s. now owns 1,244,230 shares of the company's stock worth $2,240,000 after acquiring an additional 388,280 shares in the last quarter. Plancorp LLC raised its stake in shares of HIVE Digital Technologies by 55.6% during the second quarter. Plancorp LLC now owns 35,000 shares of the company's stock worth $63,000 after acquiring an additional 12,500 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of HIVE Digital Technologies by 328.2% during the first quarter. Goldman Sachs Group Inc. now owns 520,877 shares of the company's stock worth $755,000 after acquiring an additional 399,223 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of HIVE Digital Technologies by 18.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 878,457 shares of the company's stock worth $1,283,000 after acquiring an additional 137,651 shares in the last quarter. 24.42% of the stock is owned by hedge funds and other institutional investors.
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.
Further Reading
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