HIVE Digital Technologies (NASDAQ:HIVE) Now Covered by Northland Securities

Northland Securities initiated coverage on shares of HIVE Digital Technologies (NASDAQ:HIVE) in a research note released on Thursday, Marketbeat Ratings reports. The firm issued an outperform rating and a $5.50 price target on the stock.

Other equities research analysts have also issued research reports about the stock. Canaccord Genuity Group reaffirmed a buy rating and set a $6.00 price target on shares of HIVE Digital Technologies in a research report on Wednesday, August 21st. B. Riley initiated coverage on shares of HIVE Digital Technologies in a research report on Friday, July 19th. They set a buy rating and a $6.00 price target for the company. HC Wainwright raised shares of HIVE Digital Technologies from a neutral rating to a buy rating and upped their price target for the company from $4.00 to $5.00 in a research report on Thursday, August 15th. Finally, StockNews.com raised shares of HIVE Digital Technologies to a sell rating in a report on Sunday, June 9th. 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $5.70.

HIVE Digital Technologies Price Performance

Shares of NASDAQ:HIVE opened at $3.11 on Thursday. HIVE Digital Technologies has a fifty-two week low of $2.18 and a fifty-two week high of $5.74. The business has a 50-day simple moving average of $3.25 and a two-hundred day simple moving average of $3.05. The company has a debt-to-equity ratio of 0.06, a quick ratio of 7.35 and a current ratio of 7.35. The firm has a market cap of $366.10 million, a price-to-earnings ratio of -5.27 and a beta of 3.48.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its earnings results on Monday, August 12th. The company reported ($0.08) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.08). HIVE Digital Technologies had a negative return on equity of 20.88% and a negative net margin of 25.74%. The business had revenue of $32.24 million during the quarter, compared to analyst estimates of $31.85 million. On average, analysts expect that HIVE Digital Technologies will post -0.28 earnings per share for the current year.

Institutional Trading of HIVE Digital Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of HIVE Digital Technologies in the second quarter worth $36,000. Sloy Dahl & Holst LLC purchased a new stake in shares of HIVE Digital Technologies in the first quarter worth $41,000. Scotia Capital Inc. purchased a new stake in shares of HIVE Digital Technologies in the fourth quarter worth $64,000. Chesapeake Capital Corp IL bought a new position in shares of HIVE Digital Technologies during the fourth quarter worth $92,000. Finally, Financial Advocates Investment Management boosted its position in shares of HIVE Digital Technologies by 10.8% during the fourth quarter. Financial Advocates Investment Management now owns 31,644 shares of the company’s stock worth $143,000 after acquiring an additional 3,080 shares during the last quarter. 24.42% of the stock is owned by hedge funds and other institutional investors.

About HIVE Digital Technologies

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.