HIVE Digital Technologies (NASDAQ:HIVE) Trading Up 5.9% – What’s Next?

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) rose 5.9% during trading on Friday . The company traded as high as $4.32 and last traded at $4.28. Approximately 896,099 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 3,653,434 shares. The stock had previously closed at $4.04.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HIVE. HC Wainwright lifted their price target on shares of HIVE Digital Technologies from $5.00 to $8.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Northland Capmk upgraded HIVE Digital Technologies to a “strong-buy” rating in a research report on Thursday, September 19th. Northland Securities boosted their target price on HIVE Digital Technologies from $5.50 to $7.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Cantor Fitzgerald restated an “overweight” rating and set a $9.00 price target on shares of HIVE Digital Technologies in a research note on Tuesday, November 19th. Finally, Canaccord Genuity Group lifted their price target on HIVE Digital Technologies from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $7.40.

HIVE Digital Technologies Stock Up 1.0 %

The firm has a market cap of $533.95 million, a price-to-earnings ratio of -29.14 and a beta of 3.43. The firm’s 50 day moving average price is $3.75 and its two-hundred day moving average price is $3.33. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.56 and a quick ratio of 5.56.

HIVE Digital Technologies (NASDAQ:HIVE) last announced 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 return on equity of 10.78% and a negative net margin of 12.04%. The company had revenue of $22.65 million for the quarter, compared to the consensus estimate of $25.32 million. During the same period last year, the business posted ($0.29) EPS. As a group, sell-side analysts forecast that HIVE Digital Technologies Ltd. will post -0.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On HIVE Digital Technologies

Large investors have recently bought and sold shares of the company. Lifeworks Advisors LLC purchased a new stake in shares of HIVE Digital Technologies in the third quarter valued at about $35,000. Vanguard Personalized Indexing Management LLC purchased a new stake in HIVE Digital Technologies in the 2nd quarter valued at approximately $36,000. Gladstone Institutional Advisory LLC acquired a new position in HIVE Digital Technologies during the 3rd quarter worth approximately $44,000. Quadrature Capital Ltd purchased a new position in shares of HIVE Digital Technologies during the 3rd quarter worth approximately $50,000. Finally, Wellington Management Group LLP acquired a new stake in shares of HIVE Digital Technologies in the 3rd quarter valued at approximately $120,000. Hedge funds and other institutional investors own 24.42% of the company’s stock.

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.