HIVE Digital Technologies (NASDAQ:HIVE) Shares Gap Down – Time to Sell?
by Jessica Moore · The Cerbat GemShares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE – Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $2.47, but opened at $2.29. HIVE Digital Technologies shares last traded at $2.1650, with a volume of 5,012,816 shares traded.
Analyst Ratings Changes
Several research analysts recently weighed in on HIVE shares. New Street Research set a $5.00 price target on HIVE Digital Technologies in a research report on Thursday, February 19th. Weiss Ratings restated a “sell (d+)” rating on shares of HIVE Digital Technologies in a research note on Wednesday, January 28th. Rosenblatt Securities cut their target price on HIVE Digital Technologies from $6.50 to $4.50 and set a “buy” rating for the company in a research report on Wednesday, February 18th. Cantor Fitzgerald cut their target price on HIVE Digital Technologies from $5.00 to $3.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Finally, B. Riley Financial dropped their price target on HIVE Digital Technologies from $7.00 to $6.00 and set a “buy” rating for the company in a report on Friday, February 13th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $6.17.
Get Our Latest Research Report on HIVE Digital Technologies
HIVE Digital Technologies Trading Down 13.2%
The company has a fifty day simple moving average of $2.12 and a two-hundred day simple moving average of $3.26. 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 $558.85 million, a P/E ratio of -3.57 and a beta of 3.56.
Institutional Trading of HIVE Digital Technologies
A number of institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd lifted its holdings in shares of HIVE Digital Technologies by 98.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 13,996 shares of the company’s stock valued at $36,000 after purchasing an additional 6,956 shares in the last quarter. Virtu Financial LLC bought a new stake in HIVE Digital Technologies during the fourth quarter worth about $78,000. Compound Planning Inc. bought a new stake in HIVE Digital Technologies during the fourth quarter worth about $36,000. Vident Advisory LLC raised its holdings in HIVE Digital Technologies by 33.6% during the fourth quarter. Vident Advisory LLC now owns 4,327,141 shares of the company’s stock worth $11,164,000 after acquiring an additional 1,087,224 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in HIVE Digital Technologies by 1,885.8% during the fourth quarter. NewEdge Advisors LLC now owns 9,929 shares of the company’s stock worth $26,000 after acquiring an additional 9,429 shares in the last quarter. 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.