HIVE Digital Technologies (NASDAQ:HIVE) Shares Gap Up – Should You Buy?

HIVE Digital Technologies Ltd. (NASDAQ:HIVE)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $2.10, but opened at $2.24. HIVE Digital Technologies shares last traded at $2.28, with a volume of 1,845,715 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wall Street Zen lowered shares of HIVE Digital Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $5.00 price target on shares of HIVE Digital Technologies in a research note on Monday, February 23rd. New Street Research set a $5.00 price objective on shares of HIVE Digital Technologies in a research report on Thursday, February 19th. Northland Securities set a $6.00 price target on HIVE Digital Technologies in a report on Wednesday, February 18th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $3.50 price objective (down from $11.00) on shares of HIVE Digital Technologies in a report on Tuesday, January 27th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $6.39.

HIVE Digital Technologies Stock Up 10.5%

The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.74 and a current ratio of 1.74. The firm has a market capitalization of $589.26 million, a P/E ratio of -3.87 and a beta of 3.61. The stock has a fifty day moving average price of $2.67 and a two-hundred day moving average price of $3.49.

Hedge Funds Weigh In On HIVE Digital Technologies

Large investors have recently bought and sold shares of the business. Millennium Management LLC boosted its position in HIVE Digital Technologies by 58.1% during the 4th quarter. Millennium Management LLC now owns 6,900,828 shares of the company’s stock valued at $17,804,000 after purchasing an additional 2,536,135 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in HIVE Digital Technologies by 29.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,187,363 shares of the company’s stock valued at $13,383,000 after buying an additional 1,193,991 shares during the last quarter. Tidal Investments LLC grew its position in shares of HIVE Digital Technologies by 15.4% during the third quarter. Tidal Investments LLC now owns 4,771,312 shares of the company’s stock worth $19,228,000 after acquiring an additional 637,679 shares during the last quarter. Two Sigma Investments LP acquired a new stake in shares of HIVE Digital Technologies in the third quarter valued at approximately $17,584,000. Finally, Vident Advisory LLC raised its holdings in shares of HIVE Digital Technologies by 33.6% during the fourth quarter. Vident Advisory LLC now owns 4,327,141 shares of the company’s stock valued at $11,164,000 after buying an additional 1,087,224 shares during 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.