HIVE Digital Technologies (NASDAQ:HIVE) Earns “Buy” Rating from HC Wainwright

HIVE Digital Technologies (NASDAQ:HIVE)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They presently have a $8.00 price objective on the stock. HC Wainwright’s target price would indicate a potential upside of 159.74% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the company. Northland Securities increased their target price on HIVE Digital Technologies from $5.50 to $7.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Canaccord Genuity Group raised their price objective on shares of HIVE Digital Technologies from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Cantor Fitzgerald reissued an “overweight” rating and set a $9.00 target price on shares of HIVE Digital Technologies in a research report on Tuesday, November 19th. Roth Capital raised shares of HIVE Digital Technologies to a “strong-buy” rating in a research report on Wednesday, December 18th. Finally, Keefe, Bruyette & Woods started coverage on HIVE Digital Technologies in a research note on Wednesday, January 8th. They set an “outperform” rating for the company. One analyst has rated the stock with a sell rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $7.42.

HIVE Digital Technologies Trading Up 7.3 %

HIVE opened at $3.08 on Wednesday. The company has a fifty day moving average price of $3.41 and a two-hundred day moving average price of $3.45. HIVE Digital Technologies has a 1-year low of $2.18 and a 1-year high of $5.54. The company has a market cap of $444.32 million, a P/E ratio of -22.00 and a beta of 3.46. The company has a current ratio of 5.56, a quick ratio of 5.56 and a debt-to-equity ratio of 0.06.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its earnings results on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. The business had revenue of $22.65 million during the quarter, compared to analyst estimates of $25.32 million. HIVE Digital Technologies had a negative return on equity of 10.78% and a negative net margin of 12.04%. During the same period in the previous year, the company posted ($0.29) EPS. Analysts predict that HIVE Digital Technologies will post -0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On HIVE Digital Technologies

Hedge funds have recently made changes to their positions in the business. State Street Corp raised its position in HIVE Digital Technologies by 2.9% in the third quarter. State Street Corp now owns 3,214,101 shares of the company’s stock worth $10,060,000 after acquiring an additional 91,056 shares during the period. XTX Topco Ltd bought a new stake in shares of HIVE Digital Technologies in the 3rd quarter worth approximately $463,000. Wellington Management Group LLP purchased a new position in HIVE Digital Technologies in the third quarter valued at approximately $120,000. Centiva Capital LP bought a new position in HIVE Digital Technologies during the third quarter valued at $235,000. Finally, Charles Schwab Investment Management Inc. increased its position in HIVE Digital Technologies by 48.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 325,216 shares of the company’s stock worth $1,018,000 after buying an additional 106,103 shares during the last quarter. 24.42% of the stock is currently owned by institutional investors.

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.