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

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) gapped up before the market opened on Thursday . The stock had previously closed at $4.34, but opened at $4.57. HIVE Digital Technologies shares last traded at $4.51, with a volume of 2,570,982 shares.

Analysts Set New Price Targets

Several brokerages have commented on HIVE. HC Wainwright restated a “buy” rating and set a $8.00 target price on shares of HIVE Digital Technologies in a report on Tuesday. Canaccord Genuity Group raised their target price on shares of HIVE Digital Technologies from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Cantor Fitzgerald restated an “overweight” rating and set a $9.00 target price on shares of HIVE Digital Technologies in a report on Tuesday, November 19th. Northland Capmk raised shares of HIVE Digital Technologies to a “strong-buy” rating in a research note on Thursday, September 19th. Finally, Northland Securities raised their price target on shares of HIVE Digital Technologies from $5.50 to $7.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $7.40.

HIVE Digital Technologies Stock Up 0.5 %

The company has a current ratio of 5.56, a quick ratio of 5.56 and a debt-to-equity ratio of 0.06. The firm’s 50 day moving average price is $3.81 and its two-hundred day moving average price is $3.37. The company has a market capitalization of $570.59 million, a P/E ratio of -32.93 and a beta of 3.39.

HIVE Digital Technologies (NASDAQ:HIVE) last released its earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.03. HIVE Digital Technologies had a negative net margin of 12.04% and a negative return on equity of 10.78%. The business had revenue of $22.65 million during the quarter, compared to analysts’ expectations of $25.32 million. During the same period last year, the business earned ($0.29) earnings per share. Equities research analysts forecast that HIVE Digital Technologies Ltd. will post -0.31 EPS for the current year.

Hedge Funds Weigh In On HIVE Digital Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp lifted its holdings in HIVE Digital Technologies by 35.4% during the 2nd quarter. Van ECK Associates Corp now owns 3,894,605 shares of the company’s stock valued at $11,995,000 after purchasing an additional 1,018,231 shares during the last quarter. Impact Partnership Wealth LLC lifted its holdings in HIVE Digital Technologies by 202.4% during the 2nd quarter. Impact Partnership Wealth LLC now owns 48,945 shares of the company’s stock valued at $151,000 after purchasing an additional 32,760 shares during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new stake in HIVE Digital Technologies during the 2nd quarter valued at $36,000. Gladstone Institutional Advisory LLC acquired a new stake in HIVE Digital Technologies during the 3rd quarter valued at $44,000. Finally, Lifeworks Advisors LLC acquired a new stake in HIVE Digital Technologies during the 3rd quarter valued at $35,000. 24.42% of the stock is owned by institutional investors.

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.