HIVE Digital Technologies Target of Unusually Large Options Trading (NASDAQ:HIVE)

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) was the target of unusually large options trading on Monday. Stock traders purchased 60,241 call options on the stock. This represents an increase of approximately 964% compared to the typical daily volume of 5,663 call options.

Hedge Funds Weigh In On HIVE Digital Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. Bastion Asset Management Inc. acquired a new position in shares of HIVE Digital Technologies in the third quarter valued at approximately $1,175,000. Alight Capital Management LP acquired a new stake in HIVE Digital Technologies during the third quarter worth approximately $1,310,000. Counterpoint Mutual Funds LLC acquired a new stake in HIVE Digital Technologies during the third quarter worth approximately $527,000. JPMorgan Chase & Co. grew its position in HIVE Digital Technologies by 26.1% during the third quarter. JPMorgan Chase & Co. now owns 500,890 shares of the company’s stock worth $2,019,000 after buying an additional 103,574 shares in the last quarter. Finally, PFG Private Wealth Management LLC acquired a new stake in shares of HIVE Digital Technologies in the 3rd quarter valued at $54,000. Institutional investors and hedge funds own 24.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of HIVE Digital Technologies in a report on Monday, May 11th. New Street Research set a $5.00 price objective on HIVE Digital Technologies in a research note on Thursday, February 19th. B. Riley Financial dropped their price objective on HIVE Digital Technologies from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Rosenblatt Securities dropped their price objective on HIVE Digital Technologies from $6.50 to $4.50 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. Finally, Northland Securities set a $6.00 price objective on HIVE Digital Technologies in a research note on Wednesday, February 18th. Six equities research 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. According to MarketBeat, HIVE Digital Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $6.17.

HIVE Digital Technologies Stock Performance

NASDAQ:HIVE traded up $0.77 on Monday, hitting $3.46. The company’s stock had a trading volume of 110,366,066 shares, compared to its average volume of 13,982,914. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.02. The stock has a fifty day moving average of $2.29 and a two-hundred day moving average of $2.82. The firm has a market capitalization of $915.00 million, a P/E ratio of -5.77 and a beta of 3.50. HIVE Digital Technologies has a one year low of $1.60 and a one year high of $7.84.

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.