HIVE Digital Technologies (NASDAQ:HIVE) Stock Price Up 9.2% – Here’s What Happened
by Renee Jackson · The Cerbat GemHIVE Digital Technologies Ltd. (NASDAQ:HIVE – Get Free Report) shares traded up 9.2% on Thursday . The company traded as high as $3.03 and last traded at $3.0150. 9,595,526 shares were traded during trading, a decline of 25% from the average session volume of 12,867,531 shares. The stock had previously closed at $2.76.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on HIVE shares. Rosenblatt Securities reduced their price objective on shares of 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. HC Wainwright restated a “buy” rating on shares of HIVE Digital Technologies in a research note on Tuesday, February 17th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of HIVE Digital Technologies in a report on Monday. New Street Research set a $5.00 price target on HIVE Digital Technologies in a research report on Thursday, February 19th. Finally, Northland Securities set a $6.00 price target on HIVE Digital Technologies in a report on Wednesday, February 18th. Six investment 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 an average rating of “Moderate Buy” and a consensus price target of $6.17.
Get Our Latest Stock Report on HIVE
HIVE Digital Technologies Price Performance
The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.02. The stock has a market cap of $711.37 million, a PE ratio of -4.48 and a beta of 3.50. The business has a 50-day moving average price of $2.29 and a 200 day moving average price of $2.84.
Hedge Funds Weigh In On HIVE Digital Technologies
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC increased its stake in shares of HIVE Digital Technologies by 1,885.8% in the fourth quarter. NewEdge Advisors LLC now owns 9,929 shares of the company’s stock worth $26,000 after purchasing an additional 9,429 shares in the last quarter. Ground Swell Capital LLC bought a new stake in shares of HIVE Digital Technologies during the 4th quarter valued at about $27,000. Private Advisor Group LLC purchased a new position in shares of HIVE Digital Technologies during the first quarter worth about $27,000. Rafferty Asset Management LLC purchased a new position in shares of HIVE Digital Technologies during the fourth quarter worth about $28,000. Finally, State of Wyoming bought a new position in shares of HIVE Digital Technologies in the fourth quarter worth approximately $28,000. 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.