HIVE Digital Technologies (NASDAQ:HIVE) Shares Down 7.6% – What’s Next?

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) shares traded down 7.6% on Monday . The stock traded as low as $4.00 and last traded at $4.02. 9,104,933 shares were traded during trading, an increase of 138% from the average session volume of 3,831,793 shares. The stock had previously closed at $4.35.

Wall Street Analyst Weigh In

A number of research firms have issued reports on HIVE. Northland Securities boosted their price objective on shares of HIVE Digital Technologies from $5.50 to $7.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Northland Capmk raised HIVE Digital Technologies to a “strong-buy” rating in a research report on Thursday, September 19th. StockNews.com raised HIVE Digital Technologies to a “sell” rating in a research note on Tuesday, December 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price target on shares of HIVE Digital Technologies in a research note on Tuesday, December 3rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $9.00 price objective on shares of HIVE Digital Technologies in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, HIVE Digital Technologies presently has an average rating of “Moderate Buy” and an average price target of $7.40.

HIVE Digital Technologies Stock Up 1.0 %

The company has a debt-to-equity ratio of 0.06, a current ratio of 5.56 and a quick ratio of 5.56. The stock has a 50 day simple moving average of $3.88 and a 200-day simple moving average of $3.42. The firm has a market cap of $526.59 million, a PE ratio of -28.14 and a beta of 3.40.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.03. The firm had revenue of $22.65 million during the quarter, compared to the consensus estimate 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 last year, the company earned ($0.29) earnings per share. Sell-side analysts predict that HIVE Digital Technologies Ltd. will post -0.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lifeworks Advisors LLC purchased a new stake in HIVE Digital Technologies during the 3rd quarter valued at $35,000. Vanguard Personalized Indexing Management LLC bought a new position in HIVE Digital Technologies in the second quarter valued at about $36,000. Gladstone Institutional Advisory LLC purchased a new position in HIVE Digital Technologies in the third quarter worth about $44,000. Quadrature Capital Ltd bought a new stake in shares of HIVE Digital Technologies during the 3rd quarter valued at about $50,000. Finally, Wellington Management Group LLP purchased a new stake in shares of HIVE Digital Technologies during the 3rd quarter valued at about $120,000. Institutional investors own 24.42% of the company’s stock.

About HIVE Digital Technologies

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.