HIVE Digital Technologies (NASDAQ:HIVE) Sees Unusually-High Trading Volume on Analyst Upgrade

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) saw an uptick in trading volume on Tuesday after Cantor Fitzgerald raised their price target on the stock from $3.00 to $4.60. Cantor Fitzgerald currently has an overweight rating on the stock. 15,243,027 shares changed hands during trading, an increase of 9% from the previous session’s volume of 14,000,031 shares.The stock last traded at $3.2850 and had previously closed at $3.46.

Several other equities analysts also recently commented on HIVE. New Street Research set a $5.00 price objective on HIVE Digital Technologies in a research report on Thursday, February 19th. 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 Friday, April 24th. Weiss Ratings reiterated a “sell (d)” rating on shares of HIVE Digital Technologies in a research note on Monday, May 11th. Northland Securities set a $6.00 price objective on HIVE Digital Technologies in a research report on Wednesday, February 18th. Finally, HC Wainwright restated a “buy” rating on shares of HIVE Digital Technologies in a research note on Tuesday, February 17th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $6.34.

Institutional Trading of HIVE Digital Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC increased its position in shares of HIVE Digital Technologies by 1,885.8% during the fourth quarter. NewEdge Advisors LLC now owns 9,929 shares of the company’s stock worth $26,000 after purchasing an additional 9,429 shares in the last quarter. Ground Swell Capital LLC purchased a new stake in shares of HIVE Digital Technologies during the fourth quarter worth approximately $27,000. Private Advisor Group LLC purchased a new stake in shares of HIVE Digital Technologies during the first quarter worth approximately $27,000. Rafferty Asset Management LLC purchased a new stake in HIVE Digital Technologies during the 4th quarter valued at about $28,000. Finally, State of Wyoming purchased a new stake in HIVE Digital Technologies during the 4th quarter valued at about $28,000. Hedge funds and other institutional investors own 24.42% of the company’s stock.

HIVE Digital Technologies Stock Performance

The company has a market cap of $1.02 billion, a PE ratio of -6.45 and a beta of 3.50. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.74 and a current ratio of 1.74. The firm’s 50 day moving average is $2.38 and its 200-day moving average is $2.78.

About HIVE Digital Technologies

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.