HIVE Digital Technologies (NASDAQ:HIVE) Upgraded by StockNews.com to “Sell” Rating

StockNews.com upgraded shares of HIVE Digital Technologies (NASDAQ:HIVE) to a sell rating in a research report sent to investors on Tuesday.

Several other research firms also recently weighed in on HIVE. Northland Capmk raised shares of HIVE Digital Technologies to a “strong-buy” rating in a research report on Thursday, September 19th. Northland Securities lifted their price objective on shares of HIVE Digital Technologies from $5.50 to $7.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Canaccord Genuity Group increased their target price on HIVE Digital Technologies from $6.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, November 14th. HC Wainwright lifted their price target on HIVE Digital Technologies from $5.00 to $8.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, 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. One research analyst has rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, HIVE Digital Technologies currently has an average rating of “Moderate Buy” and an average target price of $7.40.

HIVE Digital Technologies Stock Performance

Shares of NASDAQ:HIVE opened at $4.07 on Tuesday. 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 stock has a fifty day moving average of $3.77 and a 200-day moving average of $3.35. HIVE Digital Technologies has a one year low of $2.18 and a one year high of $5.74.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its earnings results on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.03. The business had revenue of $22.65 million during the quarter, compared to the consensus estimate 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 in the prior year, the business posted ($0.29) earnings per share. Research analysts forecast that HIVE Digital Technologies will post -0.31 EPS for the current year.

Institutional Trading of HIVE Digital Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Lifeworks Advisors LLC purchased a new position in HIVE Digital Technologies in the third quarter valued at about $35,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of HIVE Digital Technologies during the 2nd quarter valued at about $36,000. Gladstone Institutional Advisory LLC bought a new stake in shares of HIVE Digital Technologies in the 3rd quarter valued at approximately $44,000. Quadrature Capital Ltd acquired a new position in HIVE Digital Technologies in the third quarter worth approximately $50,000. Finally, Wellington Management Group LLP bought a new position in HIVE Digital Technologies during the third quarter valued at approximately $120,000. 24.42% of the stock is currently owned by hedge funds and other 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.