HIVE Digital Technologies (NASDAQ:HIVE) Stock Price Expected to Rise, Northland Securities Analyst Says

HIVE Digital Technologies (NASDAQ:HIVE) had its price target boosted by Northland Securities from $5.50 to $7.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

Several other analysts also recently commented on HIVE. Canaccord Genuity Group upped their price objective on shares of HIVE Digital Technologies from $6.00 to $7.00 and gave the company a “buy” rating in a report on Thursday. Northland Capmk upgraded HIVE Digital Technologies to a “strong-buy” rating in a research note on Thursday, September 19th. HC Wainwright raised their price objective on shares of HIVE Digital Technologies from $5.00 to $8.00 and gave the stock a “buy” rating in a research note on Thursday. B. Riley began coverage on shares of HIVE Digital Technologies in a report on Friday, July 19th. They set a “buy” rating and a $6.00 price target on the stock. Finally, Cantor Fitzgerald started coverage on shares of HIVE Digital Technologies in a report on Tuesday, October 29th. They issued an “overweight” rating and a $9.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.17.

HIVE Digital Technologies Stock Performance

Shares of NASDAQ:HIVE traded down $0.04 on Thursday, hitting $4.26. 3,897,638 shares of the company were exchanged, compared to its average volume of 3,559,663. The company has a current ratio of 5.56, a quick ratio of 7.35 and a debt-to-equity ratio of 0.06. The stock’s 50 day moving average price is $3.51 and its 200 day moving average price is $3.20. HIVE Digital Technologies has a 1-year low of $2.18 and a 1-year high of $5.74. The firm has a market capitalization of $540.30 million, a P/E ratio of -30.75 and a beta of 3.43.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.03. HIVE Digital Technologies had a negative return on equity of 10.78% and a negative net margin of 12.04%. The business had revenue of $22.65 million for the quarter, compared to the consensus estimate of $25.32 million. During the same quarter in the previous year, the business earned ($0.29) EPS. Sell-side analysts predict that HIVE Digital Technologies will post -0.28 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Quadrature Capital Ltd purchased a new stake in HIVE Digital Technologies in the third quarter valued at approximately $50,000. Centiva Capital LP purchased a new stake in shares of HIVE Digital Technologies in the 3rd quarter valued at $235,000. Charles Schwab Investment Management Inc. lifted its stake in HIVE Digital Technologies by 48.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 325,216 shares of the company’s stock worth $1,018,000 after acquiring an additional 106,103 shares in the last quarter. Lifeworks Advisors LLC purchased a new position in HIVE Digital Technologies during the 3rd quarter valued at about $35,000. Finally, Gladstone Institutional Advisory LLC acquired a new position in HIVE Digital Technologies in the 3rd quarter valued at about $44,000. 24.42% of the stock is currently owned by institutional investors and hedge funds.

HIVE Digital Technologies Company Profile

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.