HC Wainwright Reiterates Buy Rating for HIVE Digital Technologies (NASDAQ:HIVE)

HIVE Digital Technologies (NASDAQ:HIVE)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $10.00 target price on the stock, up from their prior target price of $8.00. HC Wainwright’s price target indicates a potential upside of 263.64% from the company’s previous close.

A number of other research analysts also recently weighed in on the company. StockNews.com upgraded HIVE Digital Technologies to a “sell” rating in a report on Tuesday, January 14th. Northland Securities raised their price objective on HIVE Digital Technologies from $5.50 to $7.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Keefe, Bruyette & Woods began coverage on HIVE Digital Technologies in a report on Wednesday, January 8th. They issued an “outperform” rating on the stock. Roth Mkm began coverage on shares of HIVE Digital Technologies in a report on Thursday, December 19th. They set a “buy” rating and a $7.50 price target for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $9.00 price objective on shares of HIVE Digital Technologies in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $8.08.

HIVE Digital Technologies Stock Performance

Shares of HIVE opened at $2.75 on Thursday. The company has a 50-day moving average of $3.19 and a two-hundred day moving average of $3.37. The stock has a market cap of $407.19 million, a price-to-earnings ratio of -19.64 and a beta of 3.46. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.56 and a quick ratio of 5.56. HIVE Digital Technologies has a one year low of $2.18 and a one year high of $5.54.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.05. HIVE Digital Technologies had a negative net margin of 12.04% and a negative return on equity of 10.78%. On average, equities research analysts expect that HIVE Digital Technologies will post -0.34 earnings per share for the current year.

Institutional Trading of HIVE Digital Technologies

A number of institutional investors have recently added to or reduced their stakes in HIVE. Van ECK Associates Corp increased its stake in shares of HIVE Digital Technologies by 17.9% during the 4th quarter. Van ECK Associates Corp now owns 4,562,489 shares of the company’s stock worth $13,003,000 after purchasing an additional 692,799 shares during the last quarter. State Street Corp increased its position in HIVE Digital Technologies by 2.9% during the third quarter. State Street Corp now owns 3,214,101 shares of the company’s stock worth $10,060,000 after buying an additional 91,056 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in HIVE Digital Technologies by 126.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 736,287 shares of the company’s stock valued at $2,098,000 after buying an additional 411,071 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new stake in shares of HIVE Digital Technologies during the 4th quarter worth about $2,058,000. Finally, Quantbot Technologies LP acquired a new position in shares of HIVE Digital Technologies during the 4th quarter valued at about $854,000. 24.42% of the stock is currently owned by institutional investors and hedge funds.

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.