HIVE Digital Technologies (NASDAQ:HIVE) Shares Gap Down - What's Next?

Key Points

• HIVE shares gapped down, opening at $3.12 versus the prior close of $3.36 and trading around $3.125 with roughly 3.88 million shares changing hands (the stock was down about 7.3%).
• Analyst sentiment is mixed but tilted positive—MarketBeat shows a consensus of Moderate Buy with an average target of $8.13 (analyst targets range about $7–$10; 8 Buys, 1 Hold, 1 Sell).
• In the latest quarter HIVE posted an EPS miss of ($0.02) vs. ($0.01) expected while revenue beat at $83.37M; the company reports negative margins and ROE but healthy liquidity (current and quick ratios 2.55) and very low debt (debt/equity 0.02).

HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Get Free Report)'s stock price gapped down before the market opened on Monday . The stock had previously closed at $3.36, but opened at $3.12. HIVE Digital Technologies shares last traded at $3.1250, with a volume of 3,882,126 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on HIVE shares. B. Riley lowered their price target on HIVE Digital Technologies from $8.00 to $7.00 and set a "buy" rating for the company in a research report on Friday, November 21st. Rosenblatt Securities reissued a "buy" rating and set a $10.00 target price on shares of HIVE Digital Technologies in a research note on Tuesday, November 18th. Weiss Ratings restated a "sell (d+)" rating on shares of HIVE Digital Technologies in a report on Friday, October 31st. HC Wainwright lifted their price target on shares of HIVE Digital Technologies from $8.00 to $10.00 and gave the company a "buy" rating in a report on Tuesday, November 18th. Finally, Wall Street Zen downgraded shares of HIVE Digital Technologies from a "hold" rating to a "sell" rating in a research report on Saturday, November 22nd. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $8.13.

HIVE Digital Technologies Stock Down 7.3%

The company has a market capitalization of $740.47 million, a P/E ratio of -14.82 and a beta of 3.57. The company has a 50-day moving average of $4.71 and a two-hundred day moving average of $3.16. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.02.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last announced its quarterly earnings data on Friday, November 14th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). HIVE Digital Technologies had a negative net margin of 16.18% and a negative return on equity of 14.15%. The firm had revenue of $83.37 million for the quarter, compared to analysts' expectations of $80.62 million. On average, research analysts predict that HIVE Digital Technologies Ltd. will post -0.32 EPS for the current year.

Institutional Investors Weigh In On HIVE Digital Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. WMG Financial Advisors LLC bought a new stake in shares of HIVE Digital Technologies in the 3rd quarter worth approximately $40,000. HBW Advisory Services LLC purchased a new position in HIVE Digital Technologies during the third quarter valued at $40,000. PKS Advisory Services LLC bought a new stake in HIVE Digital Technologies in the third quarter worth $44,000. R Squared Ltd bought a new stake in HIVE Digital Technologies in the third quarter worth $45,000. Finally, PFG Private Wealth Management LLC purchased a new stake in shares of HIVE Digital Technologies in the third quarter worth $54,000. Hedge funds and other institutional investors own 24.42% of the company's stock.

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.

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