HC Wainwright Reiterates “Buy” Rating for HIVE Digital Technologies (NASDAQ:HIVE)

HIVE Digital Technologies (NASDAQ:HIVE)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a research note issued on Wednesday,Benzinga reports. They presently have a $8.00 price objective on the stock. HC Wainwright’s price target suggests a potential upside of 186.74% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Northland Securities upped their price objective on HIVE Digital Technologies from $5.50 to $7.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. StockNews.com raised shares of HIVE Digital Technologies to a “sell” rating in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods initiated coverage on shares of HIVE Digital Technologies in a report on Wednesday, January 8th. They set an “outperform” rating for the company. Canaccord Genuity Group upped their target price on shares of HIVE Digital Technologies from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Roth Mkm started coverage on shares of HIVE Digital Technologies in a research note on Thursday, December 19th. They set a “buy” rating and a $7.50 price target for the company. One analyst has rated the stock with a sell rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $7.42.

HIVE Digital Technologies Price Performance

HIVE stock opened at $2.79 on Wednesday. The company has a current ratio of 5.56, a quick ratio of 5.56 and a debt-to-equity ratio of 0.06. HIVE Digital Technologies has a 12 month low of $2.18 and a 12 month high of $5.54. The stock has a market cap of $402.49 million, a PE ratio of -19.93 and a beta of 3.46. The company has a 50-day moving average price of $3.45 and a 200 day moving average price of $3.46.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $22.65 million during the quarter, compared to analyst estimates of $25.32 million. During the same quarter in the previous year, the business earned ($0.29) earnings per share. Equities research analysts anticipate that HIVE Digital Technologies will post -0.34 earnings per share for the current year.

Institutional Investors Weigh In On HIVE Digital Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of HIVE Digital Technologies during the second quarter valued at about $36,000. Gladstone Institutional Advisory LLC bought a new position in shares of HIVE Digital Technologies during the 3rd quarter worth approximately $44,000. Lifeworks Advisors LLC purchased a new stake in HIVE Digital Technologies during the third quarter valued at approximately $35,000. Charles Schwab Investment Management Inc. boosted its stake in HIVE Digital Technologies by 48.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 325,216 shares of the company’s stock valued at $1,018,000 after acquiring an additional 106,103 shares in the last quarter. Finally, Centiva Capital LP purchased a new position in HIVE Digital Technologies in the third quarter worth $235,000. 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.