HC Wainwright Forecasts Strong Price Appreciation for HIVE Digital Technologies (NASDAQ:HIVE) Stock

HIVE Digital Technologies (NASDAQ:HIVE) had its price target increased by research analysts at HC Wainwright from $8.00 to $10.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 180.90% from the company’s previous close.

Several other analysts have also recently commented on the stock. Wall Street Zen raised shares of HIVE Digital Technologies from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 16th. Northland Securities set a $7.50 price objective on HIVE Digital Technologies in a research report on Tuesday, October 7th. Roth Capital lifted their target price on HIVE Digital Technologies from $6.00 to $7.50 and gave the company a “buy” rating in a research note on Tuesday, August 26th. Zacks Research raised HIVE Digital Technologies to a “hold” rating in a research note on Friday, August 8th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of HIVE Digital Technologies in a research report on Friday, October 31st. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, HIVE Digital Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $8.29.

HIVE Digital Technologies Stock Performance

HIVE Digital Technologies stock opened at $3.56 on Tuesday. The stock has a 50-day simple moving average of $4.79 and a 200 day simple moving average of $3.08. The stock has a market capitalization of $846.25 million, a price-to-earnings ratio of -17.80 and a beta of 3.54. The company has a quick ratio of 3.42, a current ratio of 3.42 and a debt-to-equity ratio of 0.02. HIVE Digital Technologies has a 12-month low of $1.26 and a 12-month high of $7.84.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in HIVE. Y Intercept Hong Kong Ltd bought a new stake in HIVE Digital Technologies in the first quarter valued at about $31,000. Phoenix Financial Ltd. grew its position in shares of HIVE Digital Technologies by 81.3% during the 1st quarter. Phoenix Financial Ltd. now owns 208,904 shares of the company’s stock worth $304,000 after buying an additional 93,704 shares during the period. Arkadios Wealth Advisors acquired a new position in shares of HIVE Digital Technologies during the 1st quarter worth about $72,000. Baader Bank Aktiengesellschaft bought a new stake in shares of HIVE Digital Technologies in the 1st quarter valued at about $51,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of HIVE Digital Technologies by 87.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,383,446 shares of the company’s stock valued at $2,006,000 after acquiring an additional 647,159 shares during the period. 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.