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

HIVE Digital Technologies (NASDAQ:HIVE)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a report issued on Tuesday,Benzinga reports. They presently have a $8.00 price target on the stock. HC Wainwright’s price objective points to a potential upside of 98.02% from the stock’s current price.

HIVE has been the subject of several other reports. StockNews.com upgraded shares of HIVE Digital Technologies to a “sell” rating in a report on Tuesday. Cantor Fitzgerald reissued an “overweight” rating and issued a $9.00 price objective on shares of HIVE Digital Technologies in a research note on Tuesday, November 19th. Northland Securities lifted their target price on HIVE Digital Technologies from $5.50 to $7.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Northland Capmk upgraded shares of HIVE Digital Technologies to a “strong-buy” rating in a research report on Thursday, September 19th. Finally, Canaccord Genuity Group boosted their target price on shares of HIVE Digital Technologies from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. One analyst has rated the stock with a sell rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, HIVE Digital Technologies has a consensus rating of “Moderate Buy” and an average price target of $7.40.

HIVE Digital Technologies Stock Performance

HIVE traded down $0.05 during trading hours on Tuesday, hitting $4.04. The company’s stock had a trading volume of 3,775,643 shares, compared to its average volume of 3,691,875. The company has a 50-day simple moving average of $3.75 and a 200 day simple moving average of $3.34. The company has a current ratio of 5.56, a quick ratio of 5.56 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $528.71 million, a PE ratio of -28.86 and a beta of 3.40. HIVE Digital Technologies has a fifty-two week low of $2.18 and a fifty-two week high of $5.74.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. The company had revenue of $22.65 million for the quarter, compared to analyst estimates of $25.32 million. HIVE Digital Technologies had a negative return on equity of 10.78% and a negative net margin of 12.04%. During the same period last year, the company earned ($0.29) earnings per share. As a group, sell-side analysts expect that HIVE Digital Technologies will post -0.29 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HIVE. Lifeworks Advisors LLC acquired a new stake in HIVE Digital Technologies during the third quarter valued at $35,000. Vanguard Personalized Indexing Management LLC acquired a new position in HIVE Digital Technologies in the second quarter worth approximately $36,000. Gladstone Institutional Advisory LLC bought a new position in HIVE Digital Technologies during the third quarter valued at approximately $44,000. Quadrature Capital Ltd acquired a new stake in HIVE Digital Technologies in the third quarter valued at approximately $50,000. Finally, Wellington Management Group LLP bought a new stake in HIVE Digital Technologies in the third quarter worth $120,000. 24.42% of the stock is 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.