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) shot up 5.2% during trading on Tuesday . The company traded as high as $2.84 and last traded at $2.74. 4,801,992 shares were traded 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.

Analysts Set New Price Targets

A number of research firms have commented on HIVE. Rosenblatt Securities decreased their target price on shares of HIVE Digital Technologies from $5.50 to $5.00 and set a "buy" rating on the stock in a research report on Friday, June 27th. Wall Street Zen raised shares of HIVE Digital Technologies from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 16th. Canaccord Genuity Group upped their target price on shares of HIVE Digital Technologies from $9.00 to $10.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Cantor Fitzgerald increased their price target on shares of HIVE Digital Technologies from $5.00 to $5.50 and gave the stock an "overweight" rating in a research report on Friday, June 27th. Finally, Roth Capital increased 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. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, HIVE Digital Technologies presently has an average rating of "Buy" and an average target price of $6.93.

HIVE Digital Technologies Trading Up 10.6%

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 firm has a market capitalization of $665.62 million, a PE ratio of -14.32 and a beta of 3.44. The business's 50-day moving average price is $2.37 and its 200-day moving average price is $1.98.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last announced 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 net margin of 17.47% and a negative return on equity of 17.39%. The business had revenue of $45.61 million for the quarter, compared to analyst estimates of $45.16 million. As a group, analysts expect that HIVE Digital Technologies Ltd. will post -0.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On HIVE Digital Technologies

Several hedge funds have recently modified their holdings of the stock. Tidal Investments LLC lifted its holdings in shares of HIVE Digital Technologies by 5.0% during the fourth quarter. Tidal Investments LLC now owns 4,210,339 shares of the company's stock worth $11,999,000 after purchasing an additional 200,024 shares during the period. Vident Advisory LLC lifted its holdings in shares of HIVE Digital Technologies by 53.0% during the second quarter. Vident Advisory LLC now owns 3,766,446 shares of the company's stock worth $6,780,000 after purchasing an additional 1,305,057 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of HIVE Digital Technologies by 104.2% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,793,562 shares of the company's stock worth $3,233,000 after purchasing an additional 915,105 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of HIVE Digital Technologies by 87.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,383,446 shares of the company's stock worth $2,006,000 after purchasing an additional 647,159 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in HIVE Digital Technologies by 11.0% in the second quarter. Geode Capital Management LLC now owns 1,296,531 shares of the company's stock valued at $2,334,000 after acquiring an additional 128,760 shares during the period. 24.42% of the stock is owned by institutional investors and hedge funds.

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.

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