HIVE Digital Technologies (NASDAQ:HIVE) Shares Up 8.1% – Should You Buy?

HIVE Digital Technologies Ltd. (NASDAQ:HIVE)’s share price rose 8.1% during trading on Monday . The stock traded as high as $4.13 and last traded at $4.12. Approximately 4,197,561 shares traded hands during trading, an increase of 8% from the average daily volume of 3,899,034 shares. The stock had previously closed at $3.81.

Wall Street Analysts Forecast Growth

HIVE has been the subject of a number of recent analyst reports. Canaccord Genuity Group raised their price target on shares of HIVE Digital Technologies from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Northland Capmk raised shares of HIVE Digital Technologies to a “strong-buy” rating in a report on Thursday, September 19th. Northland Securities boosted their target price on shares of HIVE Digital Technologies from $5.50 to $7.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $9.00 price target on shares of HIVE Digital Technologies in a research report on Tuesday, November 19th. Finally, StockNews.com raised HIVE Digital Technologies to a “sell” rating in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $7.40.

HIVE Digital Technologies Stock Performance

The stock’s 50-day moving average price is $3.93 and its 200-day moving average price is $3.44. The company has a current ratio of 5.56, a quick ratio of 5.56 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $527.74 million, a P/E ratio of -29.43 and a beta of 3.39.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.03. HIVE Digital Technologies had a negative net margin of 12.04% and a negative return on equity of 10.78%. The firm had revenue of $22.65 million for the quarter, compared to analyst estimates of $25.32 million. During the same quarter in the prior year, the business earned ($0.29) earnings per share. As a group, equities analysts expect that HIVE Digital Technologies Ltd. will post -0.33 EPS for the current year.

Institutional Trading of HIVE Digital Technologies

Hedge funds have recently made changes to their positions in the stock. Lifeworks Advisors LLC bought a new position in HIVE Digital Technologies during the 3rd quarter worth $35,000. Vanguard Personalized Indexing Management LLC bought a new stake in HIVE Digital Technologies in the second quarter valued at $36,000. Gladstone Institutional Advisory LLC acquired a new position in shares of HIVE Digital Technologies during the third quarter valued at $44,000. Quadrature Capital Ltd bought a new position in shares of HIVE Digital Technologies during the third quarter worth about $50,000. Finally, Wellington Management Group LLP acquired a new stake in shares of HIVE Digital Technologies in the 3rd quarter worth about $120,000. Institutional investors own 24.42% of the company’s stock.

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.