HIVE Digital Technologies (NASDAQ:HIVE) Stock Price Up 8% - Should You Buy?

HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Get Free Report) shares rose 8% during trading on Friday . The company traded as high as $4.44 and last traded at $4.43. Approximately 2,258,451 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 3,762,427 shares. The stock had previously closed at $4.10.

Analyst Ratings Changes

A number of brokerages have weighed in on HIVE. Cantor Fitzgerald restated an "overweight" rating and set a $9.00 price objective on shares of HIVE Digital Technologies in a research note on Tuesday, November 19th. Canaccord Genuity Group increased their price objective on shares of HIVE Digital Technologies from $6.00 to $7.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Northland Capmk upgraded HIVE Digital Technologies to a "strong-buy" rating in a research note on Thursday, September 19th. Northland Securities boosted their price target on HIVE Digital Technologies from $5.50 to $7.00 and gave the company an "outperform" rating in a report on Thursday, November 14th. Finally, HC Wainwright restated a "buy" rating and set a $8.00 price objective on shares of HIVE Digital Technologies in a research note on Tuesday. One 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 stock. According to data from MarketBeat.com, HIVE Digital Technologies presently has a consensus rating of "Moderate Buy" and a consensus target price of $7.40.

HIVE Digital Technologies Price Performance

The firm has a market capitalization of $575.55 million, a price-to-earnings ratio of -31.07 and a beta of 3.39. The company has a current ratio of 5.56, a quick ratio of 5.56 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average price of $3.84 and a two-hundred day moving average price of $3.39.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.03. HIVE Digital Technologies had a negative return on equity of 10.78% and a negative net margin of 12.04%. The firm had revenue of $22.65 million for the quarter, compared to analyst estimates of $25.32 million. During the same period last year, the company earned ($0.29) earnings per share. As a group, research analysts forecast that HIVE Digital Technologies Ltd. will post -0.33 EPS for the current year.

Institutional Trading of HIVE Digital Technologies

Several hedge funds have recently bought and sold shares of HIVE. Lifeworks Advisors LLC acquired a new stake in shares of HIVE Digital Technologies in the third quarter valued at approximately $35,000. Vanguard Personalized Indexing Management LLC bought a new stake in HIVE Digital Technologies during the 2nd quarter valued at $36,000. Gladstone Institutional Advisory LLC bought a new stake in shares of HIVE Digital Technologies during the 3rd quarter worth about $44,000. Quadrature Capital Ltd bought a new position in shares of HIVE Digital Technologies in the third quarter valued at approximately $50,000. Finally, Wellington Management Group LLP acquired a new position in shares of HIVE Digital Technologies during the 3rd quarter valued at $120,000. 24.42% of the stock is currently owned by 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.