HIVE Digital Technologies (NASDAQ:HIVE) Shares Gap Down – Should You Sell?

HIVE Digital Technologies Ltd. (NASDAQ:HIVE)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $3.66, but opened at $3.37. HIVE Digital Technologies shares last traded at $3.4550, with a volume of 9,969,549 shares changing hands.

Wall Street Analysts Forecast Growth

HIVE has been the topic of several recent research reports. Wall Street Zen upgraded HIVE Digital Technologies from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 16th. B. Riley reaffirmed a “buy” rating on shares of HIVE Digital Technologies in a research note on Wednesday, October 22nd. Weiss Ratings reiterated a “sell (d+)” rating on shares of HIVE Digital Technologies in a report on Friday, October 31st. Zacks Research raised shares of HIVE Digital Technologies to a “hold” rating in a research note on Friday, August 8th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $10.00 target price on shares of HIVE Digital Technologies in a research report on Monday, October 13th. Eight investment 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $8.00.

HIVE Digital Technologies Trading Down 9.6%

The business’s 50-day simple moving average is $4.77 and its two-hundred day simple moving average is $3.05. The stock has a market capitalization of $786.82 million, a price-to-earnings ratio of -16.55 and a beta of 3.54. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.42 and a quick ratio of 3.42.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its earnings results on Thursday, August 14th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.02. HIVE Digital Technologies had a negative net margin of 17.47% and a negative return on equity of 17.39%. The business had revenue of $45.61 million for the quarter, compared to analyst estimates of $45.16 million. On average, research analysts anticipate that HIVE Digital Technologies Ltd. will post -0.32 earnings per share for the current fiscal year.

Institutional Trading of HIVE Digital Technologies

Large investors have recently bought and sold shares of the company. Two Sigma Investments LP purchased a new stake in shares of HIVE Digital Technologies during the third quarter valued at approximately $17,584,000. Vident Advisory LLC increased its stake in HIVE Digital Technologies by 53.0% during the 2nd quarter. Vident Advisory LLC now owns 3,766,446 shares of the company’s stock worth $6,780,000 after buying an additional 1,305,057 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in HIVE Digital Technologies by 104.2% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,793,562 shares of the company’s stock worth $3,233,000 after buying an additional 915,105 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. boosted its position in HIVE Digital Technologies by 20.0% in the 3rd quarter. Generali Investments CEE investicni spolecnost a.s. now owns 1,492,481 shares of the company’s stock valued at $6,015,000 after buying an additional 248,251 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of HIVE Digital Technologies by 87.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,383,446 shares of the company’s stock valued at $2,006,000 after acquiring an additional 647,159 shares in the last quarter. Institutional investors and hedge funds 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.