Traders Buy 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 target of unusually large options trading on Thursday. Stock investors acquired 32,001 call options on the stock. This represents an increase of 326% compared to the typical daily volume of 7,508 call options.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Roth Capital boosted their target price on HIVE Digital Technologies from $6.00 to $7.50 and gave the stock a "buy" rating in a report on Tuesday, August 26th. 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. Zacks Research upgraded HIVE Digital Technologies to a "hold" rating in a report on Friday, August 8th. HC Wainwright lowered their target price on HIVE Digital Technologies from $9.00 to $6.00 and set a "buy" rating on the stock in a report on Friday, June 27th. Finally, Rosenblatt Securities lowered 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. One equities research 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 company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $6.93.

Hedge Funds Weigh In On HIVE Digital Technologies

Large investors have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in HIVE Digital Technologies in the fourth quarter valued at $26,000. Wells Fargo & Company MN boosted its stake in HIVE Digital Technologies by 60.9% in the fourth quarter. Wells Fargo & Company MN now owns 15,320 shares of the company's stock valued at $44,000 after acquiring an additional 5,800 shares in the last quarter. Ethos Financial Group LLC acquired a new stake in shares of HIVE Digital Technologies during the second quarter worth about $36,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of HIVE Digital Technologies during the second quarter worth about $38,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of HIVE Digital Technologies during the first quarter worth about $31,000. Institutional investors and hedge funds own 24.42% of the company's stock.

HIVE Digital Technologies Stock Down 2.4%

NASDAQ:HIVE traded down $0.10 during trading hours on Tuesday, hitting $3.87. The company's stock had a trading volume of 38,416,378 shares, compared to its average volume of 15,904,967. The stock has a market capitalization of $895.79 million, a P/E ratio of -19.32 and a beta of 3.44. The stock has a fifty day moving average of $2.49 and a 200-day moving average of $2.02. 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 52-week low of $1.26 and a 52-week high of $5.54.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported ($0.06) EPS for the quarter, beating 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 firm had revenue of $45.61 million for the quarter, compared to analyst estimates of $45.16 million. On average, equities analysts forecast that HIVE Digital Technologies will post -0.32 earnings per share 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.