HIVE Digital Technologies (NASDAQ:HIVE) Trading Up 5.2% - Still a Buy?

Key Points

• HIVE Digital Technologies shares rose by 5.2% to $2.74, although the trading volume decreased significantly by 68% compared to the average.
• Analysts have mixed opinions on HIVE, with target prices ranging from $5.00 to $10.00, and an average rating classified as "Buy".
• The company posted a revenue of $45.61 million for the last quarter, surpassing analyst estimates, but reported a negative earnings per share of ($0.06).

HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Get Free Report)'s stock price traded up 5.2% during trading on Tuesday . The stock traded as high as $2.84 and last traded at $2.74. 4,801,992 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 15,017,761 shares. The stock had previously closed at $2.60.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on HIVE shares. Roth Capital upped 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 report on Tuesday, August 26th. Wall Street Zen raised HIVE Digital Technologies from a "strong sell" rating to a "hold" rating in a report on Saturday, August 16th. Canaccord Genuity Group boosted their price objective on HIVE Digital Technologies from $9.00 to $10.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Zacks Research raised HIVE Digital Technologies to a "hold" rating in a report on Friday, August 8th. Finally, Cantor Fitzgerald upped their price target on HIVE Digital Technologies from $5.00 to $5.50 and gave the company an "overweight" rating in a research note on Friday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $6.93.

HIVE Digital Technologies Trading Up 12.7%

The business has a 50 day moving average of $2.45 and a 200-day moving average of $2.01. The company has a current ratio of 3.42, a quick ratio of 3.42 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $882.09 million, a P/E ratio of -19.05 and a beta of 3.45.

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, 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. Analysts anticipate that HIVE Digital Technologies Ltd. will post -0.32 EPS for the current fiscal year.

Hedge Funds Weigh In On HIVE Digital Technologies

A number of large investors have recently bought and sold shares of HIVE. Balyasny Asset Management L.P. acquired a new position in HIVE Digital Technologies during the 4th quarter worth approximately $133,000. Man Group plc acquired a new position in HIVE Digital Technologies during the 4th quarter worth approximately $1,118,000. Point72 Asset Management L.P. acquired a new position in HIVE Digital Technologies during the 4th quarter worth approximately $249,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of HIVE Digital Technologies in the 4th quarter valued at approximately $26,000. Finally, Tidal Investments LLC grew its stake in shares of HIVE Digital Technologies by 5.0% in the fourth quarter. Tidal Investments LLC now owns 4,210,339 shares of the company's stock valued at $11,999,000 after buying an additional 200,024 shares in 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.