HIVE Digital Technologies Ltd. (NASDAQ:HIVE – Get Free Report)’s stock price hit a new 52-week low during trading on Monday. The stock traded as low as $1.67 and last traded at $1.71, with a volume of 11,346,475 shares. The stock had previously closed at $1.91.
Analyst Ratings Changes
HIVE has been the subject of several analyst reports. Weiss Ratings upgraded HIVE Digital Technologies from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, August 14th. Rosenblatt Securities lifted their target price on HIVE Digital Technologies from $5.50 to $6.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of HIVE Digital Technologies in a report on Monday, August 17th. Wall Street Zen cut HIVE Digital Technologies from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 12th. Finally, 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 Monday, October 19th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $6.95.
Check Out Our Latest Research Report on HIVE
HIVE Digital Technologies Price Performance
The firm’s 50 day moving average is $2.72 and its two-hundred day moving average is $2.84. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.85.
HIVE Digital Technologies (NASDAQ:HIVE – Get Free Report) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.33). The firm had revenue of $79.12 million for the quarter, compared to the consensus estimate of $81.72 million. HIVE Digital Technologies had a negative return on equity of 31.98% and a negative net margin of 98.49%. During the same period last year, the company posted $0.18 earnings per share. As a group, sell-side analysts anticipate that HIVE Digital Technologies Ltd. will post -0.66 EPS for the current year.
Insider Buying and Selling at HIVE Digital Technologies
In other news, Director Dave Perrill sold 100,000 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $2.72, for a total value of $272,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Hedge Funds Weigh In On HIVE Digital Technologies
Hedge funds and other institutional investors have recently bought and sold shares of the business. Private Advisor Group LLC acquired a new position in HIVE Digital Technologies during the first quarter worth approximately $27,000. Stillwater Private Wealth LLC acquired a new stake in shares of HIVE Digital Technologies in the first quarter valued at approximately $38,000. Verity Asset Management Inc. acquired a new stake in shares of HIVE Digital Technologies in the second quarter valued at approximately $44,000. Kellett Wealth Advisors LLC boosted its stake in shares of HIVE Digital Technologies by 80.0% during the 3rd quarter. Kellett Wealth Advisors LLC now owns 18,000 shares of the company’s stock worth $53,000 after acquiring an additional 8,000 shares during the period. Finally, TD Waterhouse Canada Inc. boosted its stake in shares of HIVE Digital Technologies by 35.9% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 18,476 shares of the company’s stock worth $64,000 after acquiring an additional 4,877 shares during the period. Institutional investors own 24.42% of the company’s stock.
About HIVE Digital Technologies
HIVE Digital Technologies Ltd. is a digital asset infrastructure company focused primarily on Bitcoin mining and the operation of data centers. The company uses specialized computing equipment and energy infrastructure to support cryptocurrency mining, while also developing facilities designed to accommodate high-performance computing and artificial intelligence applications.
Founded as HIVE Blockchain Technologies, the company adopted the HIVE Digital Technologies name in 2023 to reflect its broader focus beyond cryptocurrency mining.
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