HIVE Digital Technologies (NASDAQ:HIVE) Trading Up 5.9% – What’s Next?

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) were up 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 mid-day trading, a decline of 75% from the average daily volume of 3,653,434 shares. The stock had previously closed at $4.04.

Analyst Upgrades and Downgrades

Several equities analysts have commented on HIVE shares. Northland Capmk upgraded HIVE Digital Technologies to a “strong-buy” rating in a report on Thursday, September 19th. Northland Securities lifted their price objective on HIVE Digital Technologies from $5.50 to $7.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. StockNews.com raised HIVE Digital Technologies to a “sell” rating in a report on Wednesday. Canaccord Genuity Group raised their price objective on shares of HIVE Digital Technologies from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $9.00 target price on shares of HIVE Digital Technologies in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $7.40.

HIVE Digital Technologies Stock Up 5.9 %

The firm has a market capitalization of $560.12 million, a price-to-earnings ratio of -31.14 and a beta of 3.43. The business has a 50 day moving average of $3.72 and a 200 day moving average of $3.31. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.56 and a quick ratio of 5.56.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its earnings results on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.03. The company had revenue of $22.65 million for the quarter, compared to the consensus estimate of $25.32 million. HIVE Digital Technologies had a negative net margin of 12.04% and a negative return on equity of 10.78%. During the same quarter in the previous year, the company earned ($0.29) EPS. On average, equities analysts anticipate that HIVE Digital Technologies Ltd. will post -0.29 EPS for the current year.

Institutional Trading of HIVE Digital Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Lifeworks Advisors LLC bought a new position in shares of HIVE Digital Technologies in the third quarter worth about $35,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of HIVE Digital Technologies in the second quarter valued at approximately $36,000. Gladstone Institutional Advisory LLC bought a new position in HIVE Digital Technologies in the 3rd quarter valued at $44,000. Quadrature Capital Ltd bought a new stake in shares of HIVE Digital Technologies during the third quarter worth $50,000. Finally, Impact Partnership Wealth LLC lifted its stake in shares of HIVE Digital Technologies by 202.4% during the second quarter. Impact Partnership Wealth LLC now owns 48,945 shares of the company’s stock valued at $151,000 after acquiring an additional 32,760 shares during the period. 24.42% of the stock is currently owned by institutional investors and hedge funds.

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.