Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Get Free Report) rose 10.5% during mid-day trading on Monday . The stock traded as high as $2.44 and last traded at $2.47. Approximately 9,364,261 shares traded hands during trading, a decline of 30% from the average daily volume of 13,431,148 shares. The stock had previously closed at $2.23.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on HIVE shares. Canaccord Genuity Group reissued a "buy" rating and issued a $9.00 price target on shares of HIVE Digital Technologies in a research report on Thursday, July 3rd. Rosenblatt Securities reduced their price objective on shares of HIVE Digital Technologies from $5.50 to $5.00 and set a "buy" rating on the stock in a research note on Friday, June 27th. Wall Street Zen raised HIVE Digital Technologies to a "sell" rating in a report on Saturday, May 17th. Cantor Fitzgerald upped their target price on HIVE Digital Technologies from $5.00 to $5.50 and gave the stock an "overweight" rating in a research note on Friday, June 27th. Finally, HC Wainwright lowered their price target on HIVE Digital Technologies from $9.00 to $6.00 and set a "buy" rating for the company in a research report on Friday, June 27th. One analyst has rated the stock with a sell rating, seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $6.67.
View Our Latest Stock Analysis on HIVE Digital Technologies
HIVE Digital Technologies Stock Performance
The company has a debt-to-equity ratio of 0.03, a current ratio of 3.72 and a quick ratio of 3.72. The firm's fifty day simple moving average is $1.99 and its 200 day simple moving average is $2.11. The company has a market capitalization of $498.49 million, a PE ratio of -6.31 and a beta of 3.40.
HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last released its quarterly earnings results on Wednesday, June 25th. The company reported ($0.31) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.20). HIVE Digital Technologies had a negative return on equity of 20.30% and a negative net margin of 48.65%. The company had revenue of $31.16 million during the quarter, compared to analyst estimates of $31.47 million. On average, research analysts predict that HIVE Digital Technologies Ltd. will post -0.32 EPS for the current year.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of HIVE Digital Technologies in the fourth quarter worth $26,000. Y Intercept Hong Kong Ltd acquired a new stake in HIVE Digital Technologies in the 1st quarter valued at about $31,000. Zhang Financial LLC acquired a new position in shares of HIVE Digital Technologies in the first quarter valued at approximately $33,000. Caitong International Asset Management Co. Ltd boosted its position in shares of HIVE Digital Technologies by 3,966.3% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 24,845 shares of the company's stock valued at $36,000 after purchasing an additional 24,234 shares during the period. Finally, Wells Fargo & Company MN grew its position in shares of HIVE Digital Technologies by 60.9% in the fourth quarter. Wells Fargo & Company MN now owns 15,320 shares of the company's stock valued at $44,000 after purchasing an additional 5,800 shares during the last quarter. 24.42% of the stock is owned by institutional investors.
About HIVE Digital Technologies
(
Get Free Report)
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.
See Also
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