HIVE Digital Technologies (NASDAQ:HIVE) Receives Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of HIVE Digital Technologies (NASDAQ:HIVE) in a report published on Wednesday,Benzinga reports. The firm currently has a $8.00 price objective on the stock.

Several other research firms have also recently weighed in on HIVE. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $9.00 target price on shares of HIVE Digital Technologies in a research note on Tuesday, November 19th. Northland Securities raised their price objective on HIVE Digital Technologies from $5.50 to $7.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Roth Capital upgraded HIVE Digital Technologies to a “strong-buy” rating in a research report on Wednesday, December 18th. StockNews.com upgraded HIVE Digital Technologies to a “sell” rating in a report on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods assumed coverage on HIVE Digital Technologies in a report on Wednesday, January 8th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $7.42.

HIVE Digital Technologies Price Performance

Shares of HIVE Digital Technologies stock opened at $2.93 on Wednesday. The company has a market capitalization of $427.26 million, a price-to-earnings ratio of -20.93 and a beta of 3.46. The company has a quick ratio of 5.56, a current ratio of 5.56 and a debt-to-equity ratio of 0.06. The stock’s 50-day simple moving average is $3.38 and its 200-day simple moving average is $3.44. HIVE Digital Technologies has a 52 week low of $2.18 and a 52 week high of $5.54.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $22.65 million for the quarter, compared to analysts’ expectations of $25.32 million. During the same period in the previous year, the firm earned ($0.29) EPS. As a group, analysts expect that HIVE Digital Technologies will post -0.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On HIVE Digital Technologies

Institutional investors have recently modified their holdings of the stock. Lifeworks Advisors LLC purchased a new stake in HIVE Digital Technologies during the 3rd quarter valued at $35,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of HIVE Digital Technologies in the 2nd quarter worth about $36,000. Gladstone Institutional Advisory LLC purchased a new position in shares of HIVE Digital Technologies during the 3rd quarter worth about $44,000. Quadrature Capital Ltd bought a new position in HIVE Digital Technologies during the 3rd quarter valued at about $50,000. Finally, Tobam raised its position in HIVE Digital Technologies by 198.6% in the 4th quarter. Tobam now owns 19,060 shares of the company’s stock worth $54,000 after purchasing an additional 12,676 shares during the period. 24.42% of the stock is owned by institutional investors.

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.