Northland Securities Forecasts Strong Price Appreciation for HIVE Digital Technologies (NASDAQ:HIVE) Stock

HIVE Digital Technologies (NASDAQ:HIVE) had its price target raised by investment analysts at Northland Securities from $5.50 to $7.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Northland Securities’ price target would indicate a potential upside of 59.09% from the company’s previous close.

HIVE has been the topic of several other reports. HC Wainwright boosted their price target on HIVE Digital Technologies from $5.00 to $8.00 and gave the stock a “buy” rating in a research report on Thursday. Cantor Fitzgerald assumed coverage on shares of HIVE Digital Technologies in a research report on Tuesday, October 29th. They set an “overweight” rating and a $9.00 target price on the stock. B. Riley initiated coverage on shares of HIVE Digital Technologies in a report on Friday, July 19th. They set a “buy” rating and a $6.00 price target for the company. Northland Capmk raised shares of HIVE Digital Technologies to a “strong-buy” rating in a research report on Thursday, September 19th. Finally, Canaccord Genuity Group raised their target price on HIVE Digital Technologies from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, HIVE Digital Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $7.17.

HIVE Digital Technologies Trading Down 5.8 %

Shares of HIVE stock traded down $0.27 during mid-day trading on Thursday, reaching $4.40. The company’s stock had a trading volume of 3,708,625 shares, compared to its average volume of 3,550,645. The company has a quick ratio of 7.35, a current ratio of 7.35 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $547.05 million, a PE ratio of -31.78 and a beta of 3.43. The company’s 50 day simple moving average is $3.47 and its 200-day simple moving average is $3.19. HIVE Digital Technologies has a 12-month low of $2.18 and a 12-month high of $5.74.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.08) EPS for the quarter, hitting analysts’ consensus estimates of ($0.08). HIVE Digital Technologies had a negative return on equity of 11.25% and a negative net margin of 12.04%. The company had revenue of $32.24 million for the quarter, compared to analysts’ expectations of $31.85 million. On average, research analysts predict that HIVE Digital Technologies will post -0.28 EPS for the current fiscal year.

Institutional Trading of HIVE Digital Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of HIVE. Lifeworks Advisors LLC bought a new position in HIVE Digital Technologies during the 3rd quarter worth approximately $35,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of HIVE Digital Technologies during the 2nd quarter valued at approximately $36,000. Gladstone Institutional Advisory LLC bought a new position in HIVE Digital Technologies during the third quarter worth $44,000. Impact Partnership Wealth LLC boosted its holdings in 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 period. Finally, Charles Schwab Investment Management Inc. boosted its holdings 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 worth $1,018,000 after purchasing an additional 106,103 shares during the period. 24.42% of the stock is owned by institutional investors.

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.