HIVE Digital Technologies (NASDAQ:HIVE) Shares Gap Down - Here's What Happened

Key Points

• Shares gapped down — HIVE opened at $2.29 after a $2.47 close and last traded at $2.1650, down about 13.2% on roughly 5.01 million shares traded.
• Analysts have trimmed targets and outlooks, but the consensus remains a “Moderate Buy” with an average target price of $6.17; several firms cut targets significantly (e.g., KBW $11→$3.50, Rosenblatt $6.50→$4.50).
• Company metrics show a market cap of $558.85 million, a negative P/E (-3.57) and high volatility (beta 3.56); the 50-day moving average ($2.12) sits below the 200-day ($3.26), and institutional investors own about 24%.

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $2.47, but opened at $2.29. HIVE Digital Technologies shares last traded at $2.1650, with a volume of 5,012,816 shares.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HIVE. B. Riley Financial reduced their target price on HIVE Digital Technologies from $7.00 to $6.00 and set a "buy" rating on the stock in a report on Friday, February 13th. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $3.50 price objective (down from $11.00) on shares of HIVE Digital Technologies in a report on Tuesday, January 27th. Northland Securities set a $6.00 price objective on HIVE Digital Technologies in a research note on Wednesday, February 18th. Rosenblatt Securities reduced their price objective on HIVE Digital Technologies from $6.50 to $4.50 and set a "buy" rating on the stock in a research note on Wednesday, February 18th. Finally, HC Wainwright reaffirmed a "buy" rating on shares of HIVE Digital Technologies in a research note on Tuesday, February 17th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $6.17.

HIVE Digital Technologies Stock Down 13.2%

The firm has a market capitalization of $558.85 million, a price-to-earnings ratio of -3.57 and a beta of 3.56. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.02. The firm has a 50 day moving average price of $2.12 and a two-hundred day moving average price of $3.26.

Hedge Funds Weigh In On HIVE Digital Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the company. Voya Investment Management LLC acquired a new position in HIVE Digital Technologies during the 3rd quarter worth approximately $1,672,000. Bastion Asset Management Inc. purchased a new stake in HIVE Digital Technologies during the 3rd quarter worth approximately $1,175,000. Alight Capital Management LP purchased a new stake in HIVE Digital Technologies during the 3rd quarter worth approximately $1,310,000. Generali Investments CEE investicni spolecnost a.s. increased its holdings in HIVE Digital Technologies by 20.0% during the 3rd quarter. Generali Investments CEE investicni spolecnost a.s. now owns 1,492,481 shares of the company's stock worth $6,015,000 after purchasing an additional 248,251 shares during the last quarter. Finally, J.W. Cole Advisors Inc. bought a new position in HIVE Digital Technologies during the 3rd quarter worth $116,000. 24.42% of the stock is owned by institutional investors and hedge funds.

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.

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