HIVE Digital Technologies (NASDAQ:HIVE) Stock Price Up 12.2% – Should You Buy?

HIVE Digital Technologies Ltd. (NASDAQ:HIVE)’s share price rose 12.2% on Tuesday . The stock traded as high as $2.43 and last traded at $2.4350. Approximately 3,151,681 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 10,654,487 shares. The stock had previously closed at $2.17.

Analysts Set New Price Targets

A number of research firms have commented on HIVE. HC Wainwright restated a “buy” rating on shares of HIVE Digital Technologies in a research note on Tuesday, February 17th. New Street Research set a $5.00 price target on HIVE Digital Technologies in a research report on Thursday, February 19th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of HIVE Digital Technologies in a research report on Wednesday, January 28th. Northland Securities set a $6.00 target price on shares of HIVE Digital Technologies in a research report on Wednesday, February 18th. Finally, B. Riley Financial lowered their price objective on shares of HIVE Digital Technologies from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Friday, February 13th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, HIVE Digital Technologies has an average rating of “Moderate Buy” and an average target price of $6.17.

HIVE Digital Technologies Stock Performance

The company has a debt-to-equity ratio of 0.02, a current ratio of 1.74 and a quick ratio of 1.74. The company has a market capitalization of $626.60 million, a P/E ratio of -4.01 and a beta of 3.56. The company has a fifty day moving average price of $2.12 and a two-hundred day moving average price of $3.27.

Hedge Funds Weigh In On HIVE Digital Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Voya Investment Management LLC acquired a new stake in HIVE Digital Technologies during the 3rd quarter worth about $1,672,000. Bastion Asset Management Inc. bought a new stake in shares of HIVE Digital Technologies during the 3rd quarter valued at about $1,175,000. Alight Capital Management LP acquired a new stake in HIVE Digital Technologies during the third quarter worth approximately $1,310,000. Generali Investments CEE investicni spolecnost a.s. boosted its holdings in shares of HIVE Digital Technologies by 20.0% during the 3rd quarter. Generali Investments CEE investicni spolecnost a.s. now owns 1,492,481 shares of the company’s stock worth $6,015,000 after buying an additional 248,251 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new stake in shares of HIVE Digital Technologies during the 3rd quarter worth approximately $527,000. Institutional investors and hedge funds own 24.42% of the company’s stock.

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.