HIVE Digital Technologies (NASDAQ:HIVE) Coverage Initiated at Roth Mkm

Analysts at Roth Mkm began coverage on shares of HIVE Digital Technologies (NASDAQ:HIVE) in a report issued on Thursday,Benzinga reports. The brokerage set a “buy” rating and a $7.50 price target on the stock. Roth Mkm’s target price indicates a potential upside of 120.59% from the company’s previous close.

A number of other research firms have also issued reports on HIVE. Canaccord Genuity Group raised their price target on HIVE Digital Technologies from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. HC Wainwright reiterated a “buy” rating and issued a $8.00 target price on shares of HIVE Digital Technologies in a research note on Tuesday, December 3rd. Northland Securities upped their price target on HIVE Digital Technologies from $5.50 to $7.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $9.00 price target on shares of HIVE Digital Technologies in a report on Tuesday, November 19th. Finally, StockNews.com raised shares of HIVE Digital Technologies to a “sell” rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, HIVE Digital Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.42.

HIVE Digital Technologies Trading Down 11.5 %

HIVE opened at $3.40 on Thursday. 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 has a 52 week low of $2.18 and a 52 week high of $5.74. The business’s 50 day moving average is $3.97 and its two-hundred day moving average is $3.46. The firm has a market cap of $457.73 million, a price-to-earnings ratio of -24.28 and a beta of 3.39.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its 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 business had revenue of $22.65 million for the quarter, compared to analysts’ expectations of $25.32 million. HIVE Digital Technologies had a negative net margin of 12.04% and a negative return on equity of 10.78%. During the same period in the previous year, the company posted ($0.29) EPS. On average, research analysts predict that HIVE Digital Technologies will post -0.33 EPS for the current year.

Hedge Funds Weigh In On HIVE Digital Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp increased its position in shares of HIVE Digital Technologies by 35.4% in the second quarter. Van ECK Associates Corp now owns 3,894,605 shares of the company’s stock valued at $11,995,000 after buying an additional 1,018,231 shares in the last quarter. Impact Partnership Wealth LLC increased its holdings in HIVE Digital Technologies by 202.4% during the 2nd quarter. Impact Partnership Wealth LLC now owns 48,945 shares of the company’s stock valued at $151,000 after acquiring an additional 32,760 shares in the last quarter. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of HIVE Digital Technologies in the second quarter valued at about $36,000. Gladstone Institutional Advisory LLC purchased a new position in shares of HIVE Digital Technologies during the 3rd quarter worth approximately $44,000. Finally, Lifeworks Advisors LLC purchased a new stake in HIVE Digital Technologies in the 3rd quarter valued at approximately $35,000. 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.