HIVE Digital Technologies (NASDAQ:HIVE) Sees Strong Trading Volume – What’s Next?
by Kim Johansen · The Markets DailyHIVE Digital Technologies Ltd. (NASDAQ:HIVE – Get Free Report) shares saw strong trading volume on Monday . Approximately 18,430,958 shares changed hands during mid-day trading, an increase of 2% from the previous session’s volume of 18,006,168 shares.The stock last traded at $5.2520 and had previously closed at $4.26.
Analyst Ratings Changes
A number of brokerages have weighed in on HIVE. Canaccord Genuity Group reissued a “buy” rating and set a $10.00 price target on shares of HIVE Digital Technologies in a research report on Friday, June 5th. UBS Group set a $8.00 target price on HIVE Digital Technologies in a research note on Wednesday, June 3rd. B. Riley Financial boosted their target price on HIVE Digital Technologies from $5.00 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. HC Wainwright restated a “buy” rating and issued a $7.00 price target on shares of HIVE Digital Technologies in a research note on Wednesday, June 3rd. Finally, Weiss Ratings downgraded HIVE Digital Technologies from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, June 15th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $6.90.
Get Our Latest Analysis on HIVE Digital Technologies
HIVE Digital Technologies Stock Performance
The company’s fifty day simple moving average is $3.30 and its two-hundred day simple moving average is $2.82. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market capitalization of $1.31 billion, a P/E ratio of -8.87 and a beta of 3.74.
HIVE Digital Technologies (NASDAQ:HIVE – Get Free Report) last issued its quarterly earnings data on Tuesday, June 2nd. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.07). HIVE Digital Technologies had a negative return on equity of 23.12% and a negative net margin of 49.21%.The firm had revenue of $71.82 million for the quarter, compared to the consensus estimate of $79.99 million. As a group, equities analysts forecast that HIVE Digital Technologies Ltd. will post -0.74 EPS for the current year.
Insider Buying and Selling at HIVE Digital Technologies
In other HIVE Digital Technologies news, COO Luke Rossy sold 215,000 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $3.97, for a total value of $853,550.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Susan B. Mcgee sold 16,700 shares of HIVE Digital Technologies stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $4.45, for a total value of $74,315.00. Following the sale, the director directly owned 208,300 shares of the company’s stock, valued at $926,935. This represents a 7.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 298,400 shares of company stock valued at $1,232,684 over the last 90 days.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Millennium Management LLC lifted its position in HIVE Digital Technologies by 58.1% during the fourth quarter. Millennium Management LLC now owns 6,900,828 shares of the company’s stock worth $17,804,000 after purchasing an additional 2,536,135 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of HIVE Digital Technologies by 29.9% in the 4th 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 in the last quarter. Tidal Investments LLC raised its position in shares of HIVE Digital Technologies by 15.4% in the 3rd quarter. Tidal Investments LLC now owns 4,771,312 shares of the company’s stock valued at $19,228,000 after buying an additional 637,679 shares in the last quarter. Two Sigma Investments LP bought a new stake in shares of HIVE Digital Technologies during the 3rd quarter worth approximately $17,584,000. Finally, Vident Advisory LLC lifted its holdings in shares of HIVE Digital Technologies by 33.6% during the 4th 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 during the period. Institutional investors and hedge funds 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.