HIVE Digital Technologies (NASDAQ:HIVE) Sees Unusually-High Trading Volume - What's Next?

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Get Free Report) saw strong trading volume on Tuesday . 4,560,488 shares traded hands during mid-day trading, an increase of 16% from the previous session's volume of 3,936,002 shares.The stock last traded at $3.80 and had previously closed at $3.92.

Wall Street Analyst Weigh In

HIVE has been the subject of a number of research analyst reports. Canaccord Genuity Group lifted their price target on HIVE Digital Technologies from $6.00 to $7.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. Northland Capmk upgraded HIVE Digital Technologies to a "strong-buy" rating in a research report on Thursday, September 19th. Northland Securities lifted their price target on HIVE Digital Technologies from $5.50 to $7.00 and gave the company an "outperform" rating in a research report on Thursday, November 14th. StockNews.com upgraded HIVE Digital Technologies to a "sell" rating in a research report on Tuesday, December 3rd. Finally, HC Wainwright reiterated a "buy" rating and set a $8.00 price target on shares of HIVE Digital Technologies in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, HIVE Digital Technologies presently has an average rating of "Moderate Buy" and an average target price of $7.40.

HIVE Digital Technologies Stock Down 2.0 %

The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.56 and a current ratio of 5.56. The stock has a 50-day moving average of $3.96 and a two-hundred day moving average of $3.46. The company has a market cap of $516.97 million, a P/E ratio of -27.43 and a beta of 3.39.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, topping analysts' consensus estimates of ($0.09) by $0.03. The business had revenue of $22.65 million for the quarter, compared to analysts' expectations of $25.32 million. HIVE Digital Technologies had a negative return on equity of 10.78% and a negative net margin of 12.04%. During the same period in the previous year, the firm earned ($0.29) EPS. On average, research analysts anticipate that HIVE Digital Technologies Ltd. will post -0.33 EPS for the current fiscal year.

Hedge Funds Weigh In On HIVE Digital Technologies

Large investors have recently bought and sold shares of the stock. Van ECK Associates Corp increased its stake in HIVE Digital Technologies by 35.4% in the 2nd quarter. Van ECK Associates Corp now owns 3,894,605 shares of the company's stock worth $11,995,000 after purchasing an additional 1,018,231 shares during the period. XTX Topco Ltd bought a new position in shares of HIVE Digital Technologies during the third quarter valued at approximately $463,000. Centiva Capital LP bought a new position in shares of HIVE Digital Technologies during the third quarter valued at approximately $235,000. Impact Partnership Wealth LLC raised its holdings in shares of HIVE Digital Technologies by 202.4% during the second quarter. Impact Partnership Wealth LLC now owns 48,945 shares of the company's stock valued at $151,000 after acquiring an additional 32,760 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of HIVE Digital Technologies during the second quarter valued at approximately $36,000. 24.42% of the stock is owned by hedge funds and other institutional investors.

HIVE Digital Technologies Company Profile

HIVE Digital Technologies Ltd. operates as a cryptocurrency mining company in Canada, Sweden, and Iceland. The company engages in the mining and sale of digital currencies, including Ethereum Classic, Bitcoin, and other coins. It also operates data centers; and offers infrastructure solutions. The company was formerly known as HIVE Blockchain Technologies Ltd.