HIVE Digital Technologies Sees Unusually Large Options Volume (NASDAQ:HIVE)

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) was the recipient of some unusual options trading activity on Tuesday. Stock investors purchased 19,610 call options on the company. This is an increase of approximately 47% compared to the average daily volume of 13,317 call options.

HIVE Digital Technologies Price Performance

NASDAQ HIVE traded down $0.24 on Tuesday, reaching $4.52. The company had a trading volume of 53,246,192 shares, compared to its average volume of 30,167,264. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $1.19 billion, a PE ratio of -7.93 and a beta of 3.74. The firm’s 50 day moving average price is $2.72 and its 200 day moving average price is $2.75. HIVE Digital Technologies has a 12 month low of $1.60 and a 12 month high of $7.84.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its quarterly earnings results on Tuesday, June 2nd. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.20. HIVE Digital Technologies had a negative net margin of 47.89% and a negative return on equity of 19.81%. As a group, equities analysts predict that HIVE Digital Technologies will post -0.53 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HIVE. HC Wainwright reissued a “buy” rating on shares of HIVE Digital Technologies in a research report on Tuesday, February 17th. Northland Securities set a $6.00 price objective on shares of HIVE Digital Technologies in a research report on Wednesday, February 18th. Rosenblatt Securities decreased their price objective on shares of HIVE Digital Technologies from $6.50 to $4.50 and set a “buy” rating on the stock in a research report on Wednesday, February 18th. Weiss Ratings restated a “sell (d)” rating on shares of HIVE Digital Technologies in a research report on Monday, May 11th. Finally, Cantor Fitzgerald raised their price objective on shares of HIVE Digital Technologies from $3.00 to $4.60 and gave the company an “overweight” rating in a research report on Tuesday, May 19th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $6.34.

Institutional Trading of HIVE Digital Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Situational Awareness LP purchased a new position in shares of HIVE Digital Technologies in the 1st quarter worth $6,444,000. Empowered Funds LLC purchased a new stake in shares of HIVE Digital Technologies during the 1st quarter valued at about $1,934,000. CI Investments Inc. lifted its holdings in shares of HIVE Digital Technologies by 37.9% in the 1st quarter. CI Investments Inc. now owns 54,429 shares of the company’s stock valued at $103,000 after acquiring an additional 14,964 shares during the last quarter. Chicago Partners Investment Group LLC grew its position in HIVE Digital Technologies by 30.3% in the first quarter. Chicago Partners Investment Group LLC now owns 205,322 shares of the company’s stock worth $390,000 after acquiring an additional 47,711 shares in the last quarter. Finally, Private Advisor Group LLC purchased a new position in HIVE Digital Technologies in the first quarter worth about $27,000. 24.42% of the stock is currently owned by institutional investors.

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.