HIVE Digital Technologies Ltd. (NASDAQ: HIVE) stock jumped 2.74% on Friday to $3.00 against a previous-day closing price of $2.92. With 0.63 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.12 million shares. During the session, the Capital Markets company that operates in wider Financial sector, reached to the highest price of $3.0050 whereas the lowest price it dropped to was $2.9020. The 52-week range on HIVE shows that it touched its highest point at $6.84 and its lowest point at $1.36 during that stretch. It currently has a 1-year price target of $6.50. Beta for the stock currently stands at 3.58.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of HIVE was down-trending over the past week, with a drop of -4.15%, but this was up by 2.04% over a month. Three-month performance dropped to -15.97% while six-month performance fell -3.85%. The stock gained 17.65% in the past year, while it has gained 108.33% so far this year.
Float and Shares Shorts:
At present, 85.56 million HIVE shares are outstanding with a float of 85.29 million shares on hand for trading. On Oct 30, 2023, short shares totaled 3.92 million, which was 5.11% higher than short shares on Sep 28, 2023. In addition to Mr. Frank Edward Holmes as the firm’s Executive Chairman, Mr. Aydin Kilic serves as its President & CEO.
Institutional Ownership:
Through their ownership of 16.17% of HIVE’s outstanding shares, institutional investors have minority control over the company. With a 4.07% stake in HIVE, the Amplify Transformational Data Sha is the largest stakeholder. A total of 3,478,097 shares are owned by the mutual fund manager. The Invesco Mkts. II Plc – CoinShares, which owns about 3.67% of HIVE stock, is the second-largest Mutual Fund holder. It holds 3,137,851 shares valued at 9.6 million. SPDR S&P Kensho New Economies Com holds 1.56% of the stake in HIVE, owning 1,333,992 shares worth 4.08 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for HIVE since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With HIVE analysts setting a high price target of $7.00 and a low target of $6.00, the average target price over the next 12 months is $6.50. Based on these targets, HIVE could surge 133.33% to reach the target high and rise by 100.0% to reach the target low. Reaching the average price target will result in a growth of 116.67% from current levels.
Summary of Insider Activity:
Insiders traded HIVE stock several times over the past three months with 1 Buys and 1 Sells. In these transactions, 18,000 shares were bought while 799,917 shares were sold. The number of buy transactions has increased to 17 while that of sell transactions has risen to 22 over the past year. The total number of shares bought during that period was 490,566 while 2,124,651 shares were sold.
