B. Riley Securities Cuts HIVE Digital Technologies (NASDAQ:HIVE) Price Target to $6.00

HIVE Digital Technologies (NASDAQ:HIVE) had its price target lowered by equities researchers at B. Riley Securities from $7.00 to $6.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley Securities’ target price points to a potential upside of 180.37% from the company’s current price.

A number of other analysts have also issued reports on the company. HC Wainwright lifted their price target on HIVE Digital Technologies from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of HIVE Digital Technologies in a report on Wednesday, January 28th. Canaccord Genuity Group reissued a “buy” rating and issued a $10.00 price target on shares of HIVE Digital Technologies in a research note on Friday, November 21st. B. Riley Financial lowered their price target on shares of HIVE Digital Technologies from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, November 21st. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $3.50 price objective (down previously from $11.00) on shares of HIVE Digital Technologies in a report on Tuesday, January 27th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $7.44.

HIVE Digital Technologies Stock Down 4.0%

Shares of NASDAQ HIVE opened at $2.14 on Friday. The firm has a market cap of $536.97 million, a price-to-earnings ratio of -10.19 and a beta of 3.58. The company’s 50-day simple moving average is $2.88 and its 200-day simple moving average is $3.47. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.02. HIVE Digital Technologies has a 52-week low of $1.26 and a 52-week high of $7.84.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its quarterly earnings results on Friday, November 14th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). HIVE Digital Technologies had a negative net margin of 16.18% and a negative return on equity of 14.15%. The company had revenue of $83.37 million during the quarter, compared to analysts’ expectations of $80.62 million. Equities analysts predict that HIVE Digital Technologies will post -0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On HIVE Digital Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ground Swell Capital LLC acquired a new position in HIVE Digital Technologies in the 4th quarter valued at about $27,000. State of Wyoming acquired a new position in HIVE Digital Technologies in the fourth quarter valued at approximately $28,000. Ethos Financial Group LLC purchased a new position in HIVE Digital Technologies in the second quarter worth approximately $36,000. Vanguard Personalized Indexing Management LLC acquired a new stake in HIVE Digital Technologies during the second quarter worth $38,000. Finally, HBW Advisory Services LLC acquired a new stake in HIVE Digital Technologies during the third quarter worth $40,000. 24.42% of the stock is currently owned by institutional investors and hedge funds.

About HIVE Digital Technologies

HIVE Digital Technologies Ltd is a publicly traded blockchain infrastructure company that specializes in the mining of digital assets such as Bitcoin and Ethereum. Using high-performance GPU and ASIC hardware, HIVE deploys proprietary mining rigs across multiple data centers to validate transactions on major blockchain networks. The company’s operations are designed to maximize hashing power while maintaining efficiency and uptime, enabling it to build and hold a portfolio of mined cryptocurrencies.

Headquartered in Vancouver, British Columbia, HIVE Digital operates data center facilities in North America and Europe, including Canada, Sweden and Iceland.