HIVE Digital Technologies Target of Unusually Large Options Trading (NASDAQ:HIVE)

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) was the target of unusually large options trading on Monday. Investors bought 60,241 call options on the company. This is an increase of 964% compared to the average daily volume of 5,663 call options.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on HIVE shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of HIVE Digital Technologies in a research note on Monday, May 11th. B. Riley Financial decreased their target price on HIVE Digital Technologies from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Northland Securities set a $6.00 target price on HIVE Digital Technologies in a research note on Wednesday, February 18th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $3.50 target price (down from $11.00) on shares of HIVE Digital Technologies in a research note on Tuesday, January 27th. Finally, New Street Research set a $5.00 target price on HIVE Digital Technologies in a research note on Thursday, February 19th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, HIVE Digital Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $6.17.

Institutional Trading of HIVE Digital Technologies

A number of institutional investors have recently modified their holdings of HIVE. ACT Wealth Management LLC raised its holdings in HIVE Digital Technologies by 33.3% during the fourth quarter. ACT Wealth Management LLC now owns 16,000 shares of the company’s stock worth $41,000 after acquiring an additional 4,000 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in HIVE Digital Technologies by 3.5% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 128,801 shares of the company’s stock worth $519,000 after acquiring an additional 4,351 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in HIVE Digital Technologies by 21.4% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 25,388 shares of the company’s stock worth $102,000 after acquiring an additional 4,472 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in HIVE Digital Technologies by 23.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 26,148 shares of the company’s stock worth $67,000 after acquiring an additional 4,964 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its holdings in HIVE Digital Technologies by 98.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 13,996 shares of the company’s stock worth $36,000 after acquiring an additional 6,956 shares in the last quarter. 24.42% of the stock is currently owned by institutional investors.

HIVE Digital Technologies Stock Up 28.6%

Shares of HIVE Digital Technologies stock traded up $0.77 during trading on Monday, reaching $3.46. The stock had a trading volume of 110,366,066 shares, compared to its average volume of 13,982,914. The company has a market capitalization of $915.00 million, a price-to-earnings ratio of -5.77 and a beta of 3.50. The stock has a fifty day moving average price of $2.29 and a two-hundred day moving average price of $2.82. HIVE Digital Technologies has a 52 week low of $1.60 and a 52 week high of $7.84. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.02.

HIVE Digital Technologies Company Profile

HIVE Digital Technologies Ltd is a publicly traded blockchain infrastructure company that specializes in the mining of digital assets such as Bitcoin and Ethereum. Using high-performance GPU and ASIC hardware, HIVE deploys proprietary mining rigs across multiple data centers to validate transactions on major blockchain networks. The company’s operations are designed to maximize hashing power while maintaining efficiency and uptime, enabling it to build and hold a portfolio of mined cryptocurrencies.

Headquartered in Vancouver, British Columbia, HIVE Digital operates data center facilities in North America and Europe, including Canada, Sweden and Iceland.