HIVE Digital Technologies Sees Unusually High Options Volume (NASDAQ:HIVE)

Key Points

• HIVE Digital Technologies experienced an unusually high options volume with 20,560 call options traded, representing a 58% increase from the average volume.
• Roth Capital and Canaccord Genuity both raised their price targets on HIVE, now set at $7.50 and $10.00 respectively, while the stock has an average target price of $6.93.
• HIVE Digital Technologies reported a revenue of $45.61 million for the last quarter, exceeding analyst estimates of $45.16 million, while achieving a loss of ($0.06) earnings per share.

HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Get Free Report) saw some unusual options trading on Monday. Stock traders acquired 20,560 call options on the company. This is an increase of approximately 58% compared to the average volume of 13,006 call options.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HIVE. Roth Capital raised their price target on HIVE Digital Technologies from $6.00 to $7.50 and gave the company a "buy" rating in a report on Tuesday, August 26th. Canaccord Genuity Group raised their price target on HIVE Digital Technologies from $9.00 to $10.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Weiss Ratings reissued a "sell (d)" rating on shares of HIVE Digital Technologies in a report on Saturday, September 27th. Cantor Fitzgerald boosted their target price on HIVE Digital Technologies from $5.00 to $5.50 and gave the stock an "overweight" rating in a report on Friday, June 27th. Finally, Rosenblatt Securities dropped their target price on HIVE Digital Technologies from $5.50 to $5.00 and set a "buy" rating on the stock in a report on Friday, June 27th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $6.93.

Institutional Trading of HIVE Digital Technologies

Several hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its stake 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 valued at $2,006,000 after purchasing an additional 647,159 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. boosted its stake in HIVE Digital Technologies by 45.4% in the second quarter. Generali Investments CEE investicni spolecnost a.s. now owns 1,244,230 shares of the company's stock valued at $2,240,000 after acquiring an additional 388,280 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in HIVE Digital Technologies by 328.2% in the first quarter. Goldman Sachs Group Inc. now owns 520,877 shares of the company's stock valued at $755,000 after acquiring an additional 399,223 shares during the last quarter. Invesco Ltd. boosted its stake in HIVE Digital Technologies by 42.0% in the first quarter. Invesco Ltd. now owns 143,541 shares of the company's stock valued at $208,000 after acquiring an additional 42,449 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in HIVE Digital Technologies in the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 24.42% of the company's stock.

HIVE Digital Technologies Stock Performance

HIVE Digital Technologies stock traded up $0.99 on Monday, reaching $5.44. 22,944,638 shares of the stock were exchanged, compared to its average volume of 18,216,768. The stock has a market cap of $1.28 billion, a PE ratio of -27.08 and a beta of 3.51. The company has a current ratio of 3.42, a quick ratio of 3.42 and a debt-to-equity ratio of 0.02. HIVE Digital Technologies has a twelve month low of $1.26 and a twelve month high of $5.54. The firm has a fifty day moving average price of $2.95 and a two-hundred day moving average price of $2.23.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported ($0.06) earnings per share 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 firm had revenue of $45.61 million during the quarter, compared to analyst estimates of $45.16 million. Sell-side analysts anticipate that HIVE Digital Technologies will post -0.32 EPS for the current year.

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.

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.