Stock Traders Purchase Large Volume of HIVE Digital Technologies Call Options (NASDAQ:HIVE)

Key Points

• HIVE Digital Technologies saw a significant increase in call options trading, with traders purchasing 32,001 call options, a 326% rise from the average daily volume.
• Institutional investors have increased their stakes in HIVE, with notable increases from firms like Tidal Investments LLC and Vident Advisory LLC, which raised their holdings by 5.0% and 53.0%, respectively.
• Analysts have varying ratings on HIVE, with a consensus rating of "Buy" and a current average target price of $6.93, as some firms adjust their price targets following recent performance results.

HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Get Free Report) was the recipient of some unusual options trading activity on Thursday. Stock traders bought 32,001 call options on the stock. This represents an increase of 326% compared to the typical daily volume of 7,508 call options.

Institutional Investors Weigh In On HIVE Digital Technologies

A number of large investors have recently bought and sold shares of the company. Tidal Investments LLC raised its position in shares of HIVE Digital Technologies by 5.0% in the 4th 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. Vident Advisory LLC increased its stake in HIVE Digital Technologies by 53.0% in the second quarter. Vident Advisory LLC now owns 3,766,446 shares of the company's stock valued at $6,780,000 after acquiring an additional 1,305,057 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in 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 valued at $3,233,000 after purchasing an additional 915,105 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in 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 in the last quarter. Finally, Geode Capital Management LLC lifted its stake in HIVE Digital Technologies by 11.0% during the second quarter. Geode Capital Management LLC now owns 1,296,531 shares of the company's stock worth $2,334,000 after purchasing an additional 128,760 shares during the last quarter. 24.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on HIVE. Rosenblatt Securities reduced their target price on shares of HIVE Digital Technologies from $5.50 to $5.00 and set a "buy" rating for the company in a report on Friday, June 27th. 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. Wall Street Zen raised HIVE Digital Technologies from a "strong sell" rating to a "hold" rating in a report on Saturday, August 16th. Zacks Research upgraded HIVE Digital Technologies to a "hold" rating in a research note on Friday, August 8th. Finally, Cantor Fitzgerald increased their price objective on HIVE Digital Technologies from $5.00 to $5.50 and gave the stock an "overweight" rating in a research report on Friday, June 27th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $6.93.

HIVE Digital Technologies Price Performance

HIVE Digital Technologies stock traded up $0.35 during mid-day trading on Thursday, reaching $3.47. 11,758,952 shares of the company were exchanged, compared to its average volume of 15,225,520. The firm has a market cap of $802.91 million, a PE ratio of -17.47 and a beta of 3.45. 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 company has a fifty day simple moving average of $2.40 and a 200-day simple moving average of $1.99. HIVE Digital Technologies has a 12 month low of $1.26 and a 12 month high of $5.54.

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 (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $45.61 million for the quarter, compared to analyst estimates of $45.16 million. As a group, equities research analysts expect that HIVE Digital Technologies will post -0.32 earnings per share for the current fiscal year.

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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