HIVE Digital Technologies (NASDAQ:HIVE) Stock Price Up 5.9% – Should You Buy?

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) shares rose 5.9% on Friday . The company traded as high as $4.32 and last traded at $4.28. Approximately 896,099 shares were traded during trading, a decline of 75% from the average daily volume of 3,653,434 shares. The stock had previously closed at $4.04.

Analyst Ratings Changes

HIVE has been the topic of a number of recent research reports. StockNews.com raised shares of HIVE Digital Technologies to a “sell” rating in a research note on Wednesday. Northland Capmk raised HIVE Digital Technologies to a “strong-buy” rating in a research note on Thursday, September 19th. Northland Securities upped their price target on HIVE Digital Technologies from $5.50 to $7.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Cantor Fitzgerald reissued an “overweight” rating and set a $9.00 price objective on shares of HIVE Digital Technologies in a research note on Tuesday, November 19th. Finally, HC Wainwright increased their target price on shares of HIVE Digital Technologies from $5.00 to $8.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $7.40.

HIVE Digital Technologies Price Performance

The company’s fifty day moving average price is $3.72 and its two-hundred day moving average price is $3.31. The company has a quick ratio of 5.56, a current ratio of 5.56 and a debt-to-equity ratio of 0.06. The company has a market cap of $560.12 million, a price-to-earnings ratio of -31.14 and a beta of 3.43.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $25.32 million. During the same period in the prior year, the business earned ($0.29) EPS. On average, equities research analysts forecast that HIVE Digital Technologies Ltd. will post -0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On HIVE Digital Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Virtu Financial LLC grew its stake in shares of HIVE Digital Technologies by 527.9% during the 3rd quarter. Virtu Financial LLC now owns 71,990 shares of the company’s stock worth $225,000 after acquiring an additional 60,524 shares in the last quarter. Toronto Dominion Bank grew its position in HIVE Digital Technologies by 86,334.5% in the third quarter. Toronto Dominion Bank now owns 50,132 shares of the company’s stock valued at $157,000 after purchasing an additional 50,074 shares in the last quarter. XTX Topco Ltd acquired a new stake in HIVE Digital Technologies in the 3rd quarter valued at $463,000. Wellington Management Group LLP bought a new stake in HIVE Digital Technologies during the 3rd quarter worth about $120,000. Finally, State Street Corp grew its holdings in shares of HIVE Digital Technologies by 2.9% in the 3rd quarter. State Street Corp now owns 3,214,101 shares of the company’s stock valued at $10,060,000 after acquiring an additional 91,056 shares in the last quarter. Institutional investors and hedge funds own 24.42% of the company’s stock.

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.