HIVE Digital Technologies Sees Unusually Large Options Volume (NASDAQ:HIVE)

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) saw some unusual options trading activity on Wednesday. Stock traders acquired 8,502 call options on the company. This represents an increase of 163% compared to the typical volume of 3,228 call options.

Institutional Trading of HIVE Digital Technologies

A number of hedge funds have recently made changes to their positions in HIVE. Tidal Investments LLC raised its holdings in HIVE Digital Technologies by 5.0% in the 4th quarter. Tidal Investments LLC now owns 4,210,339 shares of the company’s stock valued at $11,999,000 after buying an additional 200,024 shares during the last quarter. Vident Advisory LLC increased its position in HIVE Digital Technologies by 26.1% in the 4th quarter. Vident Advisory LLC now owns 2,831,492 shares of the company’s stock valued at $8,072,000 after acquiring an additional 585,511 shares during the period. Charles Schwab Investment Management Inc. increased its position in HIVE Digital Technologies by 87.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,383,446 shares of the company’s stock valued at $2,006,000 after acquiring an additional 647,159 shares during the period. Cubist Systematic Strategies LLC raised its stake in shares of HIVE Digital Technologies by 332.8% during the fourth quarter. Cubist Systematic Strategies LLC now owns 962,677 shares of the company’s stock valued at $2,744,000 after acquiring an additional 740,247 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of HIVE Digital Technologies by 18.6% during the first 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. 24.42% of the stock is owned by institutional investors and hedge funds.

HIVE Digital Technologies Trading Up 3.3%

Shares of HIVE Digital Technologies stock opened at $2.33 on Friday. The firm’s 50 day moving average is $1.88 and its 200 day moving average is $2.19. The firm has a market capitalization of $463.12 million, a PE ratio of -6.46 and a beta of 3.40. HIVE Digital Technologies has a 1 year low of $1.26 and a 1 year high of $5.54. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 0.03.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its quarterly earnings results on Wednesday, June 25th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.20). The company had revenue of $31.16 million for the quarter, compared to analyst estimates of $31.47 million. HIVE Digital Technologies had a negative return on equity of 20.30% and a negative net margin of 48.65%. Equities research analysts forecast that HIVE Digital Technologies will post -0.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on HIVE shares. Wall Street Zen raised HIVE Digital Technologies to a “sell” rating in a research report on Saturday, May 17th. Rosenblatt Securities decreased their price target on HIVE Digital Technologies from $5.50 to $5.00 and set a “buy” rating on the stock in a research report on Friday, June 27th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $9.00 price target on shares of HIVE Digital Technologies in a research note on Thursday. HC Wainwright dropped their target price on shares of HIVE Digital Technologies from $9.00 to $6.00 and set a “buy” rating for the company in a research report on Friday, June 27th. Finally, Cantor Fitzgerald increased their price target on shares of HIVE Digital Technologies from $5.00 to $5.50 and gave the stock an “overweight” rating in a research report on Friday, June 27th. One analyst has rated the stock with a sell rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, HIVE Digital Technologies presently has an average rating of “Buy” and a consensus price target of $6.57.

About HIVE Digital Technologies

HIVE Digital Technologies Ltd. operates as a cryptocurrency mining company in Canada, Sweden, and Iceland. The company engages in the mining and sale of digital currencies, including Ethereum Classic, Bitcoin, and other coins. It also operates data centers; and offers infrastructure solutions. The company was formerly known as HIVE Blockchain Technologies Ltd.