HIVE Digital Technologies (NASDAQ:HIVE) Trading Up 8.3% – Here’s What Happened

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) was up 8.3% during trading on Wednesday . The stock traded as high as $4.39 and last traded at $4.4390. Approximately 28,011,207 shares were traded during trading, an increase of 77% from the average daily volume of 15,836,507 shares. The stock had previously closed at $4.10.

Analysts Set New Price Targets

Several brokerages have issued reports on HIVE. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $3.50 price target (down from $11.00) on shares of HIVE Digital Technologies in a research note on Tuesday, January 27th. Rosenblatt Securities reduced their price objective on shares of HIVE Digital Technologies from $6.50 to $4.50 and set a “buy” rating for the company in a research report on Wednesday, February 18th. Weiss Ratings reiterated a “sell (d)” rating on shares of HIVE Digital Technologies in a research note on Monday, May 11th. Northland Securities set a $6.00 target price on shares of HIVE Digital Technologies in a research report on Wednesday, February 18th. Finally, New Street Research set a $5.00 target price on shares of HIVE Digital Technologies in a research note on Thursday, February 19th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, HIVE Digital Technologies has a consensus rating of “Moderate Buy” and an average price target of $6.34.

HIVE Digital Technologies Price Performance

The business has a 50-day moving average of $2.53 and a 200 day moving average of $2.75. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $1.18 billion, a P/E ratio of -7.46 and a beta of 3.50.

Institutional Investors Weigh In On HIVE Digital Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the company. ACT Wealth Management LLC lifted its holdings in shares of HIVE Digital Technologies by 33.3% in the 4th quarter. ACT Wealth Management LLC now owns 16,000 shares of the company’s stock worth $41,000 after purchasing 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 buying an additional 4,351 shares during 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 buying an additional 4,472 shares during the last quarter. SBI Securities Co. Ltd. lifted its stake in shares of HIVE Digital Technologies by 23.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 26,148 shares of the company’s stock valued at $67,000 after buying an additional 4,964 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of HIVE Digital Technologies by 98.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 13,996 shares of the company’s stock valued at $36,000 after buying an additional 6,956 shares in the last quarter. Institutional investors own 24.42% of the company’s stock.

About HIVE Digital Technologies

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.