HIVE Digital Technologies’ (HIVE) Buy Rating Reiterated at Chardan Capital

Chardan Capital restated their buy rating on shares of HIVE Digital Technologies (NASDAQ:HIVE) in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has a $7.50 target price on the stock.

Several other brokerages have also commented on HIVE. Canaccord Genuity Group reiterated a “buy” rating and set a $10.00 price objective on shares of HIVE Digital Technologies in a research report on Tuesday, August 18th. HC Wainwright restated a “buy” rating and issued a $7.00 target price on shares of HIVE Digital Technologies in a research report on Monday, August 17th. Wall Street Zen lowered HIVE Digital Technologies from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 12th. B. Riley Financial increased their price target on shares of HIVE Digital Technologies from $5.00 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, June 3rd. Finally, Cantor Fitzgerald set a $7.00 price target on shares of HIVE Digital Technologies in a research report on Thursday, June 4th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $6.95.

HIVE Digital Technologies Stock Performance

NASDAQ HIVE opened at $3.41 on Wednesday. HIVE Digital Technologies has a 52-week low of $1.73 and a 52-week high of $7.84. The company has a fifty day moving average of $2.94 and a 200-day moving average of $2.97. The company has a market capitalization of $933.93 million, a P/E ratio of -2.64 and a beta of 3.75. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.96 and a current ratio of 1.96.

HIVE Digital Technologies (NASDAQ:HIVE) last released its earnings results on Friday, August 14th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.33). HIVE Digital Technologies had a negative net margin of 98.49% and a negative return on equity of 31.98%. The firm had revenue of $79.12 million during the quarter, compared to the consensus estimate of $81.72 million. During the same period in the prior year, the company earned $0.18 EPS. As a group, equities research analysts predict that HIVE Digital Technologies will post -0.61 EPS for the current fiscal year.

Insider Activity

In other news, Director Dave Perrill sold 100,000 shares of HIVE Digital Technologies stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $2.72, for a total value of $272,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 9.44% of the company’s stock.

Hedge Funds Weigh In On HIVE Digital Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Situational Awareness LP increased its stake in HIVE Digital Technologies by 169.3% in the 2nd quarter. Situational Awareness LP now owns 9,133,726 shares of the company’s stock worth $33,247,000 after purchasing an additional 5,742,179 shares during the period. Acasta Partners UK LLP bought a new position in shares of HIVE Digital Technologies in the second quarter worth approximately $3,640,000. BTG Pactual Asset Management US LLC bought a new position in shares of HIVE Digital Technologies in the second quarter worth approximately $2,730,000. UBS Group AG increased its stake in shares of HIVE Digital Technologies by 3,992.2% in the fourth quarter. UBS Group AG now owns 929,390 shares of the company’s stock worth $2,398,000 after buying an additional 906,679 shares during the period. Finally, Empowered Funds LLC purchased a new position in shares of HIVE Digital Technologies in the first quarter worth $1,934,000. 24.42% of the stock is currently owned by institutional investors.

HIVE Digital Technologies Company Profile

HIVE Digital Technologies Ltd. is a digital infrastructure company that develops and operates data centers designed for high-performance computing. Its primary business has historically been the mining of Bitcoin using specialized computing equipment, with operations supported by renewable and low-carbon energy sources where available.

The company is also expanding beyond cryptocurrency mining by evaluating and developing infrastructure for artificial intelligence, cloud computing and other high-performance computing applications.