HIVE Digital Technologies (NASDAQ:HIVE) Stock Gets Price Target Cut from Chardan Capital

HIVE Digital Technologies (NASDAQ:HIVE) had its target price lowered by Chardan Capital from $7.50 to $7.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Chardan Capital‘s target price suggests a potential upside of 306.98% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $10.00 price target on shares of HIVE Digital Technologies in a research note on Monday, October 19th. Weiss Ratings upgraded shares of HIVE Digital Technologies from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, August 14th. HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of HIVE Digital Technologies in a research note on Monday, August 17th. Finally, Rosenblatt Securities raised their price objective on shares of HIVE Digital Technologies from $5.50 to $6.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, HIVE Digital Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.90.

HIVE Digital Technologies Stock Performance

NASDAQ:HIVE traded down $0.09 during trading hours on Tuesday, reaching $1.72. 9,929,825 shares of the company’s stock were exchanged, compared to its average volume of 17,834,971. HIVE Digital Technologies has a 1-year low of $1.58 and a 1-year high of $5.34. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $475.10 million, a price-to-earnings ratio of -1.33 and a beta of 3.76. The company has a 50-day moving average of $2.58 and a 200 day moving average of $2.79.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings results on Monday, November 9th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.01. The business had revenue of $84.88 million during the quarter, compared to analysts’ expectations of $79.44 million. HIVE Digital Technologies had a negative return on equity of 31.98% and a negative net margin of 98.49%. Research analysts anticipate that HIVE Digital Technologies will post -0.66 EPS for the current year.

Insider Activity

In related news, Director Dave Perrill sold 100,000 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $2.72, for a total value of $272,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Hedge Funds Weigh In On HIVE Digital Technologies

Hedge funds have recently added to or reduced their stakes in the business. Clearwater Capital Advisors LLC acquired a new position in HIVE Digital Technologies during the third quarter worth about $64,000. Jefferies Financial Group Inc. purchased a new stake in shares of HIVE Digital Technologies in the third quarter valued at about $54,000. StoneX Group Inc. acquired a new stake in shares of HIVE Digital Technologies in the third quarter valued at approximately $40,000. Calamos Advisors LLC acquired a new stake in shares of HIVE Digital Technologies in the third quarter valued at approximately $173,000. Finally, Kestra Advisory Services LLC grew its position in shares of HIVE Digital Technologies by 132.4% in the third quarter. Kestra Advisory Services LLC now owns 103,195 shares of the company’s stock valued at $304,000 after purchasing an additional 58,800 shares during the last quarter. 24.42% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting HIVE Digital Technologies

Here are the key news stories impacting HIVE Digital Technologies this week:

• Positive Sentiment: Revenue was $84.9 million, above analyst estimates of $79.44 million, while AI computing revenue grew 70.7% and adjusted EBITDA increased 85%. HIVE also reported $139 million in cash, supporting its investment in AI infrastructure. HIVE Q2 results
• Positive Sentiment: HIVE added 79 Bitcoin in Q3, bringing its treasury to 269 BTC. The increase signals continued accumulation, although it also leaves the company exposed to cryptocurrency price swings. HIVE adds Bitcoin
• Negative Sentiment: The quarterly loss widened: HIVE reported a loss of $0.15 per share, slightly better than the $0.16 loss analysts expected, but worse than the $0.02 loss a year earlier. The larger loss may temper optimism about its growth investments. HIVE Q2 loss
• Negative Sentiment: Bitcoin mining production reportedly rose 49%, but lower Bitcoin prices weighed on mining revenue; a separate report also flagged an HPC revenue miss. These points raise questions about whether AI growth can offset weaker mining economics. Mining revenue and Bitcoin prices HPC revenue report

About HIVE Digital Technologies

HIVE Digital Technologies Ltd. is a digital infrastructure company focused on cryptocurrency mining and high-performance computing. Its operations include data centers that support Bitcoin mining, as well as computing services for applications such as artificial intelligence and other data-intensive workloads. Founded in 2017 as HIVE Blockchain Technologies, the company initially focused on mining digital assets, including Ethereum. It has since expanded its emphasis on Bitcoin mining and high-performance computing.