HIVE Digital Technologies (NASDAQ:HIVE) Shares Gap Up - Time to Buy?

Key Points

• Shares gapped up, opening at $5.04 after a $4.70 close and last trading around $4.745 on ~5.13M shares, sitting just above its 50‑day moving average ($4.65) and well above the 200‑day ($2.98).
• Wall Street sentiment is a Moderate Buy with an average price target of $8.00 — nine Buy ratings, one Hold and one Sell — and several firms lifting targets to as high as $10.00.
• Company fundamentals remain mixed: recent quarterly EPS beat (-$0.06 vs. -$0.08) but the firm is unprofitable with negative margins and ROE, while showing strong liquidity (quick/current ratio 3.42) and very low debt (debt/equity 0.02).

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $4.70, but opened at $5.04. HIVE Digital Technologies shares last traded at $4.7450, with a volume of 5,134,756 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have commented on HIVE shares. Zacks Research raised shares of HIVE Digital Technologies to a "hold" rating in a research note on Friday, August 8th. Northland Securities set a $7.50 price target on HIVE Digital Technologies in a research note on Tuesday, October 7th. Canaccord Genuity Group reiterated a "buy" rating and set a $10.00 price objective on shares of HIVE Digital Technologies in a research report on Monday, October 13th. Rosenblatt Securities boosted their target price on HIVE Digital Technologies from $5.00 to $10.00 and gave the stock a "buy" rating in a research report on Thursday, October 16th. Finally, Roth Capital lifted their price target on shares of HIVE Digital Technologies from $6.00 to $7.50 and gave the stock a "buy" rating in a research note on Tuesday, August 26th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $8.00.

HIVE Digital Technologies Price Performance

The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -23.72 and a beta of 3.54. The stock's 50 day moving average price is $4.65 and its two-hundred day moving average price is $2.98. The company has a quick ratio of 3.42, a current ratio of 3.42 and a debt-to-equity ratio of 0.02.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.02. The firm had revenue of $45.61 million during the quarter, compared to analysts' expectations of $45.16 million. HIVE Digital Technologies had a negative net margin of 17.47% and a negative return on equity of 17.39%. Equities research analysts forecast that HIVE Digital Technologies Ltd. will post -0.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Bastion Asset Management Inc. acquired a new stake in shares of HIVE Digital Technologies in the third quarter valued at about $1,175,000. JPMorgan Chase & Co. raised its holdings in HIVE Digital Technologies by 26.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 500,890 shares of the company's stock valued at $2,019,000 after acquiring an additional 103,574 shares during the last quarter. PFG Private Wealth Management LLC purchased a new position in HIVE Digital Technologies in the 3rd quarter worth approximately $54,000. Baader Bank Aktiengesellschaft acquired a new position in shares of HIVE Digital Technologies during the 3rd quarter worth approximately $847,000. Finally, J.W. Cole Advisors Inc. purchased a new stake in shares of HIVE Digital Technologies in the third quarter valued at approximately $116,000. 24.42% of the stock is owned by institutional investors and hedge funds.

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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