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

HIVE Digital Technologies (NASDAQ:HIVE)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $8.00 price target on the stock. HC Wainwright’s target price would suggest a potential upside of 98.02% from the stock’s previous close.

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

HIVE Digital Technologies Stock Performance

HIVE stock traded down $0.05 during mid-day trading on Tuesday, reaching $4.04. 3,775,643 shares of the stock traded hands, compared to its average volume of 3,691,875. The firm has a market capitalization of $528.71 million, a PE ratio of -28.86 and a beta of 3.40. The business has a 50-day moving average of $3.75 and a two-hundred day moving average of $3.34. HIVE Digital Technologies has a 52 week low of $2.18 and a 52 week high of $5.74. The company has a quick ratio of 5.56, a current ratio of 5.56 and a debt-to-equity ratio of 0.06.

HIVE Digital Technologies (NASDAQ:HIVE) last released its earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $22.65 million for the quarter, compared to analyst estimates of $25.32 million. During the same quarter last year, the firm posted ($0.29) EPS. As a group, equities analysts predict that HIVE Digital Technologies will post -0.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Lifeworks Advisors LLC bought a new position in shares of HIVE Digital Technologies in the 3rd quarter valued at about $35,000. Vanguard Personalized Indexing Management LLC bought a new position in HIVE Digital Technologies in the 2nd quarter valued at about $36,000. Gladstone Institutional Advisory LLC acquired a new stake in shares of HIVE Digital Technologies during the third quarter worth $44,000. Quadrature Capital Ltd bought a new stake in shares of HIVE Digital Technologies during the 3rd quarter valued at $50,000. Finally, Wellington Management Group LLP acquired a new position in HIVE Digital Technologies during the third quarter valued at approximately $120,000. Institutional investors own 24.42% of the company’s stock.

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.