HIVE Digital Technologies (NASDAQ:HIVE) Stock Price Target Lowered at B. Riley Financial

HIVE Digital Technologies (NASDAQ:HIVE) had its target price dropped by investment analysts at B. Riley Financial from $8.00 to $5.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley Financial‘s price objective suggests a potential upside of 181.53% from the stock’s current price.

A number of other research analysts also recently commented on the stock. Weiss Ratings raised shares of HIVE Digital Technologies from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, August 14th. HC Wainwright decreased their target price on shares of HIVE Digital Technologies from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Wednesday. Canaccord Genuity Group reaffirmed a “buy” rating and set a $10.00 price target on shares of HIVE Digital Technologies in a research report on Monday, October 19th. Chardan Capital cut their price target on shares of HIVE Digital Technologies from $7.50 to $7.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Rosenblatt Securities lifted their price target on shares of HIVE Digital Technologies from $5.50 to $6.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $6.40.

HIVE Digital Technologies Price Performance

Shares of NASDAQ:HIVE opened at $1.78 on Wednesday. The company has a market cap of $490.57 million, a P/E ratio of -1.18 and a beta of 3.76. The business has a fifty day simple moving average of $2.56 and a 200-day simple moving average of $2.79. HIVE Digital Technologies has a 52 week low of $1.58 and a 52 week high of $5.34. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.85.

HIVE Digital Technologies (NASDAQ:HIVE) last released its earnings results on Monday, November 9th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.13). HIVE Digital Technologies had a negative return on equity of 40.74% and a negative net margin of 118.13%. The business had revenue of $84.88 million for the quarter, compared to analysts’ expectations of $79.44 million. Equities research analysts forecast that HIVE Digital Technologies will post -0.66 EPS for the current year.

Insider Transactions at HIVE Digital Technologies

In related news, Director Dave Perrill sold 12,500 shares of the stock in a transaction that occurred on Wednesday, October 7th. The shares were sold at an average price of $2.75, for a total transaction of $34,375.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Investors Weigh In On HIVE Digital Technologies

Institutional investors have recently bought and sold shares of the business. Private Advisor Group LLC increased its position in shares of HIVE Digital Technologies by 50.3% in the third quarter. Private Advisor Group LLC now owns 47,900 shares of the company’s stock worth $141,000 after acquiring an additional 16,037 shares in the last quarter. Clearwater Capital Advisors LLC purchased a new position in shares of HIVE Digital Technologies in the 3rd quarter valued at $64,000. Jefferies Financial Group Inc. purchased a new position in shares of HIVE Digital Technologies in the 3rd quarter valued at $54,000. StoneX Group Inc. purchased a new position in shares of HIVE Digital Technologies in the 3rd quarter valued at $40,000. Finally, Calamos Advisors LLC acquired a new position in shares of HIVE Digital Technologies during the 3rd quarter valued at $173,000. 24.42% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting HIVE Digital Technologies

Here are the key news stories impacting HIVE Digital Technologies this week:

• Positive Sentiment: Fiscal Q2 revenue was $84.9 million, above analyst estimates of $79.4 million. HIVE also reported roughly 70% growth in AI/GPU revenue and an 85% increase in adjusted EBITDA, highlighting progress in its high-performance computing business. HIVE Q2 results
• Positive Sentiment: The company highlighted $139 million in cash and a plan targeting $45 million in annual AI revenue from its Sweden data center, which could support expansion of its non-mining business. Sweden data center AI revenue target
• Neutral Sentiment: HIVE added 79 Bitcoin in Q3, bringing its treasury to 269 BTC. The holdings add exposure to Bitcoin, whose price can also affect mining revenue and asset values. HIVE Bitcoin treasury
• Neutral Sentiment: HC Wainwright and Chardan Capital lowered their price targets to $5 and $7, respectively, but both maintained Buy ratings. The reductions temper expectations, while the continued ratings signal favorable analyst views. HC Wainwright rating
• Negative Sentiment: Despite revenue beating estimates, HIVE’s reported quarterly loss per share of $0.29 was wider than the $0.16 loss analysts expected. The company remains deeply unprofitable, and coverage also noted that HPC revenue missed expectations. HIVE earnings report
• Negative Sentiment: Reports that miners are earning more from AI while continuing to sell Bitcoin point to potential ongoing supply pressure; falling Bitcoin prices have also been cited as a factor behind lower mining revenue. Bitcoin miners and selling pressure

About HIVE Digital Technologies

HIVE Digital Technologies Ltd. is a digital infrastructure company focused on cryptocurrency mining and high-performance computing. Its operations include data centers that support Bitcoin mining, as well as computing services for applications such as artificial intelligence and other data-intensive workloads. Founded in 2017 as HIVE Blockchain Technologies, the company initially focused on mining digital assets, including Ethereum. It has since expanded its emphasis on Bitcoin mining and high-performance computing.