HIVE Digital Technologies (NASDAQ:HIVE) Trading 9.2% Higher – Should You Buy?

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) rose 9.2% during trading on Thursday . The stock traded as high as $3.03 and last traded at $3.0150. Approximately 9,595,526 shares traded hands during trading, a decline of 25% from the average daily volume of 12,867,531 shares. The stock had previously closed at $2.76.

Analysts Set New Price Targets

HIVE has been the topic of several research reports. Weiss Ratings reissued a “sell (d)” rating on shares of HIVE Digital Technologies in a research report on Monday. B. Riley Financial dropped their target price on HIVE Digital Technologies from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. Canaccord Genuity Group reiterated a “buy” rating and issued a $10.00 price target on shares of HIVE Digital Technologies in a report on Friday, April 24th. Cantor Fitzgerald lowered their price target on shares of HIVE Digital Technologies from $5.00 to $3.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Finally, Northland Securities set a $6.00 target price on HIVE Digital Technologies in a report on Wednesday, February 18th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, HIVE Digital Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.17.

HIVE Digital Technologies Stock Performance

The stock has a market cap of $779.34 million, a price-to-earnings ratio of -4.92 and a beta of 3.50. The firm’s 50-day moving average is $2.26 and its two-hundred day moving average is $2.87. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.02.

Institutional Trading of HIVE Digital Technologies

Several large investors have recently bought and sold shares of the business. NewEdge Advisors LLC boosted its holdings in shares of HIVE Digital Technologies by 1,885.8% during the 4th quarter. NewEdge Advisors LLC now owns 9,929 shares of the company’s stock worth $26,000 after purchasing an additional 9,429 shares during the last quarter. Ground Swell Capital LLC purchased a new position in shares of HIVE Digital Technologies during the 4th quarter worth $27,000. Private Advisor Group LLC acquired a new position in shares of HIVE Digital Technologies during the 1st quarter valued at about $27,000. Rafferty Asset Management LLC purchased a new stake in shares of HIVE Digital Technologies in the fourth quarter valued at about $28,000. Finally, State of Wyoming acquired a new stake in HIVE Digital Technologies during the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 24.42% of the company’s stock.

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.