HIVE Digital Technologies’ (HIVE) Buy Rating Reaffirmed at HC Wainwright

HIVE Digital Technologies (NASDAQ:HIVE)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a report released on Wednesday, MarketBeat.com reports. They presently have a $7.00 target price on the stock. HC Wainwright’s price objective points to a potential upside of 54.19% from the stock’s previous close.

Several other equities research analysts have also commented on the stock. New Street Research set a $5.00 price target on shares of HIVE Digital Technologies in a report on Thursday, February 19th. Cantor Fitzgerald increased their price objective on shares of HIVE Digital Technologies from $3.00 to $4.60 and gave the company an “overweight” rating in a report on Tuesday, May 19th. B. Riley Financial cut their target price on shares of HIVE Digital Technologies from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Weiss Ratings restated a “sell (d)” rating on shares of HIVE Digital Technologies in a research report on Monday, May 11th. Finally, Northland Securities set a $6.00 price target on shares of HIVE Digital Technologies in a research note on Wednesday, February 18th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $6.01.

HIVE Digital Technologies Stock Down 4.6%

HIVE Digital Technologies stock opened at $4.54 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.74 and a quick ratio of 1.74. The stock has a market capitalization of $1.20 billion, a PE ratio of -7.57 and a beta of 3.74. The business has a 50 day simple moving average of $2.72 and a 200-day simple moving average of $2.75. HIVE Digital Technologies has a 12 month low of $1.60 and a 12 month high of $7.84.

Institutional Investors Weigh In On HIVE Digital Technologies

A number of large investors have recently modified their holdings of the business. Bastion Asset Management Inc. purchased a new position in shares of HIVE Digital Technologies in the third quarter worth about $1,175,000. Alight Capital Management LP acquired a new stake in HIVE Digital Technologies in the 3rd quarter valued at about $1,310,000. UBS Group AG lifted its stake in HIVE Digital Technologies by 3,992.2% in the 4th quarter. UBS Group AG now owns 929,390 shares of the company’s stock worth $2,398,000 after purchasing an additional 906,679 shares in the last quarter. Quilter Plc purchased a new position in HIVE Digital Technologies in the 4th quarter worth approximately $88,000. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in shares of HIVE Digital Technologies by 94.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 338,142 shares of the company’s stock worth $872,000 after purchasing an additional 164,495 shares during the last quarter. Hedge funds and other institutional investors own 24.42% of the company’s stock.

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.