HIVE Digital Technologies (NASDAQ:HIVE) Shares Down 5.5% - Time to Sell?

Key Points

• HIVE Digital Technologies experienced a significant decline of 5.5% in its stock price, trading down to $3.74 after closing at $3.96.
• Several brokerages have issued mixed outlooks on HIVE, with target prices ranging from $5.00 to $10.00 and a consensus rating of "Buy."
• In its latest earnings report, HIVE reported a revenue of $45.61 million, surpassing analyst expectations, while also posting a negative earnings per share of ($0.06).

HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Get Free Report) dropped 5.5% during trading on Tuesday . The company traded as low as $3.70 and last traded at $3.74. Approximately 7,331,737 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 15,740,563 shares. The stock had previously closed at $3.96.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on HIVE shares. Roth Capital lifted their target price on shares of HIVE Digital Technologies from $6.00 to $7.50 and gave the stock a "buy" rating in a report on Tuesday, August 26th. Cantor Fitzgerald upped their price objective on HIVE Digital Technologies from $5.00 to $5.50 and gave the company an "overweight" rating in a research report on Friday, June 27th. Rosenblatt Securities reduced their target price on HIVE Digital Technologies from $5.50 to $5.00 and set a "buy" rating for the company in a report on Friday, June 27th. Zacks Research upgraded HIVE Digital Technologies to a "hold" rating in a research note on Friday, August 8th. Finally, HC Wainwright dropped their price objective on HIVE Digital Technologies from $9.00 to $6.00 and set a "buy" rating on the stock in a research report on Friday, June 27th. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, HIVE Digital Technologies currently has an average rating of "Moderate Buy" and an average target price of $6.93.

HIVE Digital Technologies Trading Down 1.3%

The stock has a fifty day moving average of $2.62 and a 200 day moving average of $2.08. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.42 and a current ratio of 3.42. The company has a market capitalization of $878.41 million, a P/E ratio of -18.95 and a beta of 3.45.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.06) EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $45.61 million during the quarter, compared to analysts' expectations of $45.16 million. As a group, equities research analysts anticipate that HIVE Digital Technologies Ltd. will post -0.32 EPS for the current fiscal year.

Institutional Trading of HIVE Digital Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of HIVE. Ethos Financial Group LLC purchased a new position in shares of HIVE Digital Technologies during the 2nd quarter valued at $36,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of HIVE Digital Technologies in the second quarter valued at about $38,000. Y Intercept Hong Kong Ltd purchased a new position in shares of HIVE Digital Technologies in the first quarter valued at about $31,000. Zhang Financial LLC purchased a new stake in shares of HIVE Digital Technologies during the first quarter worth about $33,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in HIVE Digital Technologies by 3,966.3% during 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. 24.42% of the stock is owned by hedge funds and other institutional investors.

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.