HIVE Digital Technologies (NASDAQ:HIVE) Coverage Initiated by Analysts at B. Riley

B. Riley began coverage on shares of HIVE Digital Technologies (NASDAQ:HIVE) in a report released on Friday morning, MarketBeat.com reports. The firm issued a buy rating and a $6.00 price objective on the stock.

HIVE has been the subject of several other reports. Canaccord Genuity Group reiterated a buy rating and issued a $6.00 price target on shares of HIVE Digital Technologies in a report on Wednesday, June 26th. HC Wainwright reiterated a neutral rating and issued a $3.50 price target on shares of HIVE Digital Technologies in a report on Wednesday, June 26th. Finally, StockNews.com upgraded HIVE Digital Technologies to a sell rating in a report on Sunday, June 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, HIVE Digital Technologies has a consensus rating of Hold and a consensus price target of $5.50.

HIVE Digital Technologies Trading Up 8.4 %

HIVE stock opened at $4.50 on Friday. The company has a market cap of $529.74 million, a price-to-earnings ratio of -7.63 and a beta of 3.51. The company has a quick ratio of 6.77, a current ratio of 6.77 and a debt-to-equity ratio of 0.07. The business has a fifty day simple moving average of $3.06 and a 200-day simple moving average of $3.21. HIVE Digital Technologies has a 52 week low of $2.18 and a 52 week high of $5.74.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings data on Monday, June 24th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.10. The business had revenue of $36.88 million during the quarter, compared to the consensus estimate of $39.70 million. HIVE Digital Technologies had a negative return on equity of 28.52% and a negative net margin of 44.73%. On average, equities research analysts expect that HIVE Digital Technologies will post -0.39 EPS for the current year.

Institutional Trading of HIVE Digital Technologies

Several large investors have recently modified their holdings of the business. MMCAP International Inc. SPC acquired a new stake in shares of HIVE Digital Technologies during the first quarter valued at about $11,227,000. Van ECK Associates Corp grew its stake in shares of HIVE Digital Technologies by 56.0% during the first quarter. Van ECK Associates Corp now owns 2,876,374 shares of the company’s stock valued at $9,693,000 after acquiring an additional 1,032,672 shares in the last quarter. Vident Advisory LLC grew its stake in shares of HIVE Digital Technologies by 78.6% during the first quarter. Vident Advisory LLC now owns 1,737,308 shares of the company’s stock valued at $5,856,000 after acquiring an additional 764,387 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of HIVE Digital Technologies by 6.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 914,308 shares of the company’s stock valued at $4,133,000 after acquiring an additional 54,615 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of HIVE Digital Technologies during the fourth quarter valued at about $458,000. 24.42% of the stock is currently owned by institutional investors and hedge funds.

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.