HIVE Digital Technologies (NASDAQ:HIVE) Shares Gap Down – What’s Next?

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) gapped down prior to trading on Friday . The stock had previously closed at $3.66, but opened at $3.37. HIVE Digital Technologies shares last traded at $3.4550, with a volume of 9,969,549 shares trading hands.

Analysts Set New Price Targets

HIVE has been the topic of several recent research reports. Wall Street Zen raised HIVE Digital Technologies from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 16th. Weiss Ratings reissued a “sell (d+)” rating on shares of HIVE Digital Technologies in a research report on Friday, October 31st. Roth Capital raised their price target on shares of HIVE Digital Technologies from $6.00 to $7.50 and gave the company a “buy” rating in a report on Tuesday, August 26th. Rosenblatt Securities boosted their price objective on shares of HIVE Digital Technologies from $5.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Finally, HC Wainwright restated a “buy” rating and set a $8.00 target price on shares of HIVE Digital Technologies in a research note on Wednesday, October 29th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, HIVE Digital Technologies has a consensus rating of “Moderate Buy” and an average target price of $8.00.

HIVE Digital Technologies Trading Down 6.4%

The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.42 and a current ratio of 3.42. The business’s 50 day moving average price is $4.76 and its 200-day moving average price is $3.03. The firm has a market cap of $814.16 million, a price-to-earnings ratio of -17.17 and a beta of 3.54.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.06) earnings per share 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 during the quarter, compared to analyst estimates of $45.16 million. Equities analysts expect that HIVE Digital Technologies Ltd. will post -0.32 EPS for the current year.

Institutional Investors Weigh In On HIVE Digital Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. Y Intercept Hong Kong Ltd acquired a new position in HIVE Digital Technologies in the first quarter worth $31,000. Caitong International Asset Management Co. Ltd lifted its position in shares of HIVE Digital Technologies by 3,966.3% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 24,845 shares of the company’s stock worth $36,000 after buying an additional 24,234 shares during the last quarter. Ethos Financial Group LLC acquired a new position in shares of HIVE Digital Technologies in the 2nd quarter valued at about $36,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of HIVE Digital Technologies during the 2nd quarter valued at about $38,000. Finally, HBW Advisory Services LLC acquired a new stake in HIVE Digital Technologies during the third quarter worth about $40,000. 24.42% of the stock is 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.