HIVE Digital Technologies Target of Unusually High Options Trading (NASDAQ:HIVE)

HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Get Free Report) saw some unusual options trading activity on Wednesday. Stock traders bought 8,502 call options on the company. This represents an increase of 163% compared to the typical volume of 3,228 call options.

HIVE Digital Technologies Price Performance

HIVE stock traded up $0.18 during mid-day trading on Wednesday, hitting $2.25. 51,640,668 shares of the stock were exchanged, compared to its average volume of 8,694,539. The business has a fifty day moving average price of $1.86 and a 200 day moving average price of $2.20. HIVE Digital Technologies has a 12 month low of $1.26 and a 12 month high of $5.54. 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 stock has a market capitalization of $448.18 million, a price-to-earnings ratio of -6.25 and a beta of 3.40.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $31.16 million for the quarter, compared to analysts' expectations of $31.47 million. HIVE Digital Technologies had a negative net margin of 48.65% and a negative return on equity of 20.30%. On average, sell-side analysts anticipate that HIVE Digital Technologies will post -0.32 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of HIVE. Point72 Asia Singapore Pte. Ltd. bought a new stake in HIVE Digital Technologies during the 4th quarter valued at $26,000. 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 position in shares of HIVE Digital Technologies in the first quarter valued at about $33,000. Caitong International Asset Management Co. Ltd raised its stake in shares of HIVE Digital Technologies by 3,966.3% during the first quarter. Caitong International Asset Management Co. Ltd now owns 24,845 shares of the company's stock valued at $36,000 after acquiring an additional 24,234 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of HIVE Digital Technologies by 60.9% during the fourth quarter. Wells Fargo & Company MN now owns 15,320 shares of the company's stock worth $44,000 after purchasing an additional 5,800 shares during the period. Hedge funds and other institutional investors own 24.42% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Cantor Fitzgerald upped their target price on shares of HIVE Digital Technologies from $5.00 to $5.50 and gave the stock an "overweight" rating in a report on Friday, June 27th. Wall Street Zen upgraded HIVE Digital Technologies to a "sell" rating in a research report on Saturday, May 17th. HC Wainwright dropped their price objective on HIVE Digital Technologies from $9.00 to $6.00 and set a "buy" rating for the company in a research note on Friday, June 27th. Canaccord Genuity Group restated a "buy" rating and issued a $9.00 target price on shares of HIVE Digital Technologies in a research note on Wednesday, March 26th. Finally, Rosenblatt Securities dropped their price target on HIVE Digital Technologies from $5.50 to $5.00 and set a "buy" rating for the company in a research report on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $6.57.

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.