HIVE Digital Technologies (NASDAQ:HIVE) Shares Gap Up – Time to Buy?

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) gapped up prior to trading on Friday . The stock had previously closed at $2.08, but opened at $2.17. HIVE Digital Technologies shares last traded at $2.2350, with a volume of 2,375,406 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on HIVE shares. Northland Securities set a $6.00 price target on shares of HIVE Digital Technologies in a research note on Wednesday, February 18th. HC Wainwright reaffirmed a “buy” rating on shares of HIVE Digital Technologies in a research note on Tuesday, February 17th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $3.50 target price (down from $11.00) on shares of HIVE Digital Technologies in a research report on Tuesday, January 27th. New Street Research set a $5.00 price target on HIVE Digital Technologies in a research note on Thursday, February 19th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $5.00 price target on shares of HIVE Digital Technologies in a research report on Monday, February 23rd. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, HIVE Digital Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $6.39.

HIVE Digital Technologies Stock Performance

The firm has a market cap of $543.04 million, a P/E ratio of -3.55 and a beta of 3.61. The stock’s 50-day moving average price is $2.58 and its 200 day moving average price is $3.47. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.74 and a quick ratio of 1.74.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. NewEdge Advisors LLC increased its position in HIVE Digital Technologies by 1,885.8% during the 4th quarter. NewEdge Advisors LLC now owns 9,929 shares of the company’s stock worth $26,000 after buying an additional 9,429 shares during the period. WMG Financial Advisors LLC acquired a new position in shares of HIVE Digital Technologies in the third quarter valued at about $40,000. HBW Advisory Services LLC bought a new position in HIVE Digital Technologies during the third quarter worth about $40,000. Ground Swell Capital LLC bought a new stake in HIVE Digital Technologies in the 4th quarter valued at about $27,000. Finally, Rafferty Asset Management LLC acquired a new position in shares of HIVE Digital Technologies during the 4th quarter worth approximately $28,000. 24.42% of the stock is owned by institutional investors.

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.