HIVE Digital Technologies (NASDAQ:HIVE) Shares Gap Up - Should You Buy?

Key Points

• HIVE Digital Technologies shares opened at $6.13 after a previous close of $5.71, and last traded at $5.82 with significant volume of 5,421,282 shares.
• Analysts have mixed ratings for HIVE, with a consensus rating of "Moderate Buy" and a price target averaging $7.71, while some firms have upgraded or downgraded their assessments recently.
• HIVE Digital Technologies reported a quarterly earnings per share (EPS) of ($0.06), surpassing estimates, and had a revenue of $45.61 million in the last quarter, yet maintains a negative net margin of 17.47%.

HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $5.71, but opened at $6.13. HIVE Digital Technologies shares last traded at $5.82, with a volume of 5,421,282 shares trading hands.

Analysts Set New Price Targets

Several research firms recently weighed in on HIVE. 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 report on Friday, June 27th. Wall Street Zen raised shares of HIVE Digital Technologies from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 16th. Northland Securities set a $7.50 price target on shares of HIVE Digital Technologies in a research note on Tuesday, October 7th. Weiss Ratings restated a "sell (d)" rating on shares of HIVE Digital Technologies in a report on Wednesday, October 8th. Finally, Zacks Research upgraded HIVE Digital Technologies to a "hold" rating in a report on Friday, August 8th. Eight equities 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. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $7.71.

HIVE Digital Technologies Trading Down 1.5%

The stock has a market cap of $1.34 billion, a PE ratio of -28.12 and a beta of 3.51. The firm has a 50-day moving average price of $3.80 and a 200-day moving average price of $2.57. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.42 and a current ratio of 3.42.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.06) earnings per share for the quarter, beating analysts' consensus estimates of ($0.08) by $0.02. The business had revenue of $45.61 million during the quarter, compared to analyst estimates of $45.16 million. HIVE Digital Technologies had a negative net margin of 17.47% and a negative return on equity of 17.39%. As a group, equities analysts anticipate 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 bought and sold shares of the business. Vident Advisory LLC raised its stake in HIVE Digital Technologies by 53.0% during the 2nd quarter. Vident Advisory LLC now owns 3,766,446 shares of the company's stock valued at $6,780,000 after buying an additional 1,305,057 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of HIVE Digital Technologies by 104.2% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,793,562 shares of the company's stock worth $3,233,000 after buying an additional 915,105 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of 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 worth $2,006,000 after acquiring an additional 647,159 shares during the period. Voya Investment Management LLC purchased a new stake in HIVE Digital Technologies during the third quarter valued at $1,672,000. Finally, Goldman Sachs Group Inc. lifted its holdings in 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 acquiring an additional 399,223 shares during the period. 24.42% of the stock is currently owned by institutional investors.

About HIVE Digital Technologies

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.