HIVE Digital Technologies (NASDAQ:HIVE) Research Coverage Started at Northland Securities

Northland Securities began coverage on shares of HIVE Digital Technologies (NASDAQ:HIVE) in a report released on Thursday, Marketbeat.com reports. The brokerage issued an outperform rating and a $5.50 price target on the stock.

HIVE has been the topic of several other reports. StockNews.com upgraded HIVE Digital Technologies to a sell rating in a research report on Sunday, June 9th. B. Riley assumed coverage on HIVE Digital Technologies in a research report on Friday, July 19th. They set a buy rating and a $6.00 target price on the stock. Canaccord Genuity Group reiterated a buy rating and set a $6.00 target price on shares of HIVE Digital Technologies in a research report on Wednesday, August 21st. Finally, HC Wainwright upgraded HIVE Digital Technologies from a neutral rating to a buy rating and boosted their price objective for the company from $4.00 to $5.00 in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $5.70.

HIVE Digital Technologies Stock Performance

Shares of HIVE opened at $3.11 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 7.35 and a quick ratio of 7.35. HIVE Digital Technologies has a one year low of $2.18 and a one year high of $5.74. The firm has a market capitalization of $366.10 million, a P/E ratio of -5.27 and a beta of 3.48. The business has a fifty day moving average of $3.25 and a 200 day moving average of $3.04.

HIVE Digital Technologies (NASDAQ:HIVE) last released its earnings results on Monday, August 12th. The company reported ($0.08) earnings per share for the quarter, meeting the consensus estimate of ($0.08). The company had revenue of $32.24 million for the quarter, compared to the consensus estimate of $31.85 million. HIVE Digital Technologies had a negative return on equity of 20.88% and a negative net margin of 25.74%. As a group, sell-side analysts anticipate that HIVE Digital Technologies will post -0.28 EPS for the current year.

Institutional Investors Weigh In On HIVE Digital Technologies

Several large investors have recently made changes to their positions in HIVE. MMCAP International Inc. SPC bought a new stake in shares of HIVE Digital Technologies in the first quarter worth about $11,227,000. Van ECK Associates Corp increased its holdings in shares of HIVE Digital Technologies by 56.0% in the first quarter. Van ECK Associates Corp now owns 2,876,374 shares of the company’s stock worth $9,693,000 after purchasing an additional 1,032,672 shares during the last quarter. Vident Advisory LLC increased its holdings in shares of HIVE Digital Technologies by 78.6% in the first quarter. Vident Advisory LLC now owns 1,737,308 shares of the company’s stock worth $5,856,000 after purchasing an additional 764,387 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of HIVE Digital Technologies in the fourth quarter worth about $458,000. Finally, Impact Partnership Wealth LLC increased its holdings in shares of HIVE Digital Technologies by 202.4% in the second quarter. Impact Partnership Wealth LLC now owns 48,945 shares of the company’s stock worth $151,000 after purchasing an additional 32,760 shares during the last quarter. 24.42% of the stock is owned by institutional investors.

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.