HIVE Digital Technologies (NASDAQ:HIVE) Hits New 52-Week Low - Time to Sell?

Key Points

• HIVE Digital Technologies fell 10.5% to an intraday 52-week low of $1.67, with more than 11 million shares traded.
• Despite the selloff, analysts maintain a consensus “Moderate Buy” rating with an average price target of $6.95; six analysts rate the stock a Buy, versus one Hold and one Sell.
• The company reported a wider-than-expected quarterly loss of $0.54 per share, revenue below estimates, and negative net margins and return on equity. A company director also sold 100,000 shares at $2.72 each.

HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Monday. The company traded as low as $1.67 and last traded at $1.71, with a volume of 11,346,475 shares changing hands. The stock had previously closed at $1.91.

Wall Street Analyst Weigh In

HIVE has been the topic of a number of research analyst reports. Rosenblatt Securities raised their price target on HIVE Digital Technologies from $5.50 to $6.00 and gave the stock a "buy" rating in a research report on Thursday, August 20th. Chardan Capital reiterated a "buy" rating and set a $7.50 price objective on shares of HIVE Digital Technologies in a report on Wednesday, September 16th. Canaccord Genuity Group reiterated a "buy" rating and issued a $10.00 price objective on shares of HIVE Digital Technologies in a research report on Monday, October 19th. Wall Street Zen cut HIVE Digital Technologies from a "sell" rating to a "strong sell" rating in a research note on Sunday, July 12th. Finally, Weiss Ratings raised HIVE Digital Technologies from a "sell (d-)" rating to a "sell (d)" rating in a research note on Friday, August 14th. Six 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 company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $6.95.

HIVE Digital Technologies Trading Down 10.5%

The company has a debt-to-equity ratio of 0.85, a current ratio of 1.96 and a quick ratio of 1.96. The firm's 50-day moving average is $2.72 and its 200 day moving average is $2.84.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last released its earnings results on Friday, August 14th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.33). HIVE Digital Technologies had a negative return on equity of 31.98% and a negative net margin of 98.49%. The firm had revenue of $79.12 million for the quarter, compared to the consensus estimate of $81.72 million. During the same quarter last year, the company posted $0.18 EPS. As a group, equities analysts forecast that HIVE Digital Technologies Ltd. will post -0.66 EPS for the current year.

Insider Buying and Selling at HIVE Digital Technologies

In related news, Director Dave Perrill sold 100,000 shares of the stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $2.72, for a total transaction of $272,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Investors Weigh In On HIVE Digital Technologies

Institutional investors have recently bought and sold shares of the company. Verity Asset Management Inc. acquired a new position in HIVE Digital Technologies during the 2nd quarter worth approximately $44,000. Private Advisor Group LLC acquired a new stake in shares of HIVE Digital Technologies in the first quarter valued at approximately $27,000. Kellett Wealth Advisors LLC lifted its position in shares of HIVE Digital Technologies by 80.0% in the third quarter. Kellett Wealth Advisors LLC now owns 18,000 shares of the company's stock worth $53,000 after purchasing an additional 8,000 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in HIVE Digital Technologies during the second quarter worth $67,000. Finally, TD Waterhouse Canada Inc. boosted its holdings in HIVE Digital Technologies by 35.9% during the second quarter. TD Waterhouse Canada Inc. now owns 18,476 shares of the company's stock worth $64,000 after purchasing an additional 4,877 shares during the last quarter. Institutional investors own 24.42% of the company's stock.

HIVE Digital Technologies Company Profile

HIVE Digital Technologies Ltd. is a digital asset infrastructure company focused primarily on Bitcoin mining and the operation of data centers. The company uses specialized computing equipment and energy infrastructure to support cryptocurrency mining, while also developing facilities designed to accommodate high-performance computing and artificial intelligence applications.

Founded as HIVE Blockchain Technologies, the company adopted the HIVE Digital Technologies name in 2023 to reflect its broader focus beyond cryptocurrency mining.

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