HIVE Digital Technologies (NASDAQ:HIVE) Coverage Initiated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods began coverage on shares of HIVE Digital Technologies (NASDAQ:HIVE) in a research note released on Wednesday, MarketBeat Ratings reports. The firm issued an outperform rating on the stock.

Several other equities analysts also recently commented on HIVE. Roth Mkm started coverage on shares of HIVE Digital Technologies in a report on Thursday, December 19th. They set a “buy” rating and a $7.50 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $9.00 price target on shares of HIVE Digital Technologies in a report on Tuesday, November 19th. Canaccord Genuity Group boosted their price objective on HIVE Digital Technologies from $6.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, November 14th. StockNews.com raised HIVE Digital Technologies to a “sell” rating in a research note on Tuesday, December 3rd. Finally, Roth Capital upgraded HIVE Digital Technologies to a “strong-buy” rating in a report on Wednesday, December 18th. One research 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $7.42.

HIVE Digital Technologies Price Performance

NASDAQ:HIVE opened at $3.12 on Wednesday. The business’s 50-day moving average is $3.80 and its 200 day moving average is $3.47. HIVE Digital Technologies has a 12 month low of $2.18 and a 12 month high of $5.54. The company has a market capitalization of $437.39 million, a P/E ratio of -22.28 and a beta of 3.46. 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 (NASDAQ:HIVE) last released its earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.03. The firm had revenue of $22.65 million for the quarter, compared to the consensus estimate of $25.32 million. HIVE Digital Technologies had a negative return on equity of 10.78% and a negative net margin of 12.04%. During the same quarter in the previous year, the company posted ($0.29) EPS. On average, equities research analysts forecast that HIVE Digital Technologies will post -0.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of HIVE. Virtu Financial LLC increased its position in shares of HIVE Digital Technologies by 527.9% in the third quarter. Virtu Financial LLC now owns 71,990 shares of the company’s stock valued at $225,000 after buying an additional 60,524 shares in the last quarter. Toronto Dominion Bank grew its stake in HIVE Digital Technologies by 86,334.5% in the 3rd quarter. Toronto Dominion Bank now owns 50,132 shares of the company’s stock valued at $157,000 after acquiring an additional 50,074 shares during the period. XTX Topco Ltd purchased a new position in HIVE Digital Technologies during the third quarter valued at $463,000. Wellington Management Group LLP purchased a new position in HIVE Digital Technologies during the third quarter valued at $120,000. Finally, State Street Corp grew its position in shares of HIVE Digital Technologies by 2.9% in the third quarter. State Street Corp now owns 3,214,101 shares of the company’s stock valued at $10,060,000 after purchasing an additional 91,056 shares during the period. 24.42% of the stock is currently owned by hedge funds and other 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.