HIVE Digital Technologies (NASDAQ:HIVE) Shares Gap Up – Here’s What Happened

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) gapped up before the market opened on Wednesday . The stock had previously closed at $2.10, but opened at $2.24. HIVE Digital Technologies shares last traded at $2.28, with a volume of 1,845,715 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HIVE. Weiss Ratings restated a “sell (d+)” rating on shares of HIVE Digital Technologies in a report on Wednesday, January 28th. Rosenblatt Securities decreased their price target on HIVE Digital Technologies from $6.50 to $4.50 and set a “buy” rating for the company in a report on Wednesday, February 18th. HC Wainwright reiterated a “buy” rating on shares of HIVE Digital Technologies in a report on Tuesday, February 17th. B. Riley Financial decreased their target price on HIVE Digital Technologies from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Finally, New Street Research set a $5.00 price target on shares of HIVE Digital Technologies in a research note on Thursday, February 19th. Six investment 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 MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.39.

HIVE Digital Technologies Stock Performance

The firm has a fifty day moving average of $2.67 and a 200-day moving average of $3.49. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $589.26 million, a price-to-earnings ratio of -3.87 and a beta of 3.61.

Institutional Investors Weigh In On HIVE Digital Technologies

A number of institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of HIVE Digital Technologies by 18.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 878,457 shares of the company’s stock worth $1,283,000 after purchasing an additional 137,651 shares during the period. Goldman Sachs Group Inc. boosted its position in HIVE Digital Technologies by 328.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 520,877 shares of the company’s stock worth $755,000 after purchasing an additional 399,223 shares during the period. Ethos Financial Group LLC acquired a new stake in HIVE Digital Technologies in the 2nd quarter valued at $36,000. Harvest Portfolios Group Inc. raised its position in HIVE Digital Technologies by 38.0% in the second quarter. Harvest Portfolios Group Inc. now owns 64,725 shares of the company’s stock valued at $117,000 after purchasing an additional 17,821 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of HIVE Digital Technologies by 79.6% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 124,450 shares of the company’s stock worth $224,000 after purchasing an additional 55,141 shares in the last quarter. 24.42% of the stock is currently owned by hedge funds and other institutional investors.

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.