HIVE Digital Technologies (NASDAQ:HIVE) Stock Price Up 10.3% - What's Next?

Key Points

• HIVE Digital Technologies saw a significant stock price increase of 10.3%, rising from $5.12 to a last traded price of $5.65.
• Analysts have set new price targets, with a consensus rating of "Moderate Buy" and an average target price of $7.71.
• Institutional investors currently hold 24.42% of HIVE's stock, showcasing growing interest in the company among major market players.

HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Get Free Report)'s share price shot up 10.3% on Friday . The stock traded as high as $5.68 and last traded at $5.65. 9,792,223 shares traded hands during trading, a decline of 50% from the average session volume of 19,688,680 shares. The stock had previously closed at $5.12.

Analysts Set New Price Targets

Several research analysts have commented on the company. Northland Securities set a $7.50 price objective on HIVE Digital Technologies in a report on Tuesday, October 7th. Rosenblatt Securities lifted their price objective on HIVE Digital Technologies from $5.00 to $10.00 and gave the company a "buy" rating in a report on Thursday, October 16th. 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. Roth Capital raised their target price on shares of HIVE Digital Technologies from $6.00 to $7.50 and gave the company a "buy" rating in a research report on Tuesday, August 26th. Finally, Zacks Research upgraded shares of HIVE Digital Technologies to a "hold" rating in a research note on Friday, August 8th. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $7.71.

HIVE Digital Technologies Price Performance

The company has a market cap of $1.42 billion, a PE ratio of -29.92 and a beta of 3.51. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.42 and a quick ratio of 3.42. The stock's 50-day moving average is $4.05 and its 200 day moving average is $2.66.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Vident Advisory LLC raised its holdings in shares of HIVE Digital Technologies by 53.0% in the second quarter. Vident Advisory LLC now owns 3,766,446 shares of the company's stock worth $6,780,000 after buying an additional 1,305,057 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in 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 acquiring an additional 915,105 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. lifted its position 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 acquiring an additional 248,251 shares during the period. Charles Schwab Investment Management Inc. lifted its position in HIVE Digital Technologies by 87.9% during the 1st 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. Finally, Geode Capital Management LLC grew its stake in HIVE Digital Technologies by 11.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,296,531 shares of the company's stock valued at $2,334,000 after purchasing an additional 128,760 shares during the last quarter. Institutional investors and hedge funds own 24.42% of the company's stock.

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.