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

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) gapped up prior to trading on Monday . The stock had previously closed at $2.69, but opened at $3.60. HIVE Digital Technologies shares last traded at $3.6030, with a volume of 44,778,095 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on HIVE. Cantor Fitzgerald reduced their target price on shares of HIVE Digital Technologies from $5.00 to $3.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. New Street Research set a $5.00 target price on shares of HIVE Digital Technologies in a report on Thursday, February 19th. HC Wainwright reiterated a “buy” rating on shares of HIVE Digital Technologies in a report on Tuesday, February 17th. Canaccord Genuity Group reiterated a “buy” rating and issued a $10.00 target price on shares of HIVE Digital Technologies in a report on Friday, April 24th. Finally, B. Riley Financial dropped their target price on shares of HIVE Digital Technologies from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, February 13th. 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. Based on data from MarketBeat.com, HIVE Digital Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $6.17.

HIVE Digital Technologies Price Performance

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 company has a market capitalization of $913.41 million, a P/E ratio of -5.72 and a beta of 3.50. The company’s 50-day simple moving average is $2.29 and its 200 day simple moving average is $2.82.

Institutional Trading of HIVE Digital Technologies

A number of institutional investors and hedge funds have recently modified their holdings of HIVE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of HIVE Digital Technologies by 18.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 878,457 shares of the company’s stock worth $1,283,000 after buying an additional 137,651 shares during the last quarter. Goldman Sachs Group Inc. raised its stake 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 valued at $755,000 after purchasing an additional 399,223 shares during the last quarter. Geode Capital Management LLC raised its stake in HIVE Digital Technologies by 11.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,296,531 shares of the company’s stock valued at $2,334,000 after purchasing an additional 128,760 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of HIVE Digital Technologies by 397,216.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 397,316 shares of the company’s stock valued at $715,000 after buying an additional 397,216 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of HIVE Digital Technologies by 232.8% during the 2nd quarter. Franklin Resources Inc. now owns 62,061 shares of the company’s stock worth $112,000 after acquiring an additional 43,413 shares during the period. 24.42% of the stock is currently owned by institutional investors and hedge funds.

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.