Keefe, Bruyette & Woods Begins Coverage on HIVE Digital Technologies (NASDAQ:HIVE)

Stock analysts at Keefe, Bruyette & Woods initiated coverage on shares of HIVE Digital Technologies (NASDAQ:HIVE) in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. The brokerage set an “outperform” rating on the stock.

HIVE has been the subject of a number of other research reports. Northland Capmk raised HIVE Digital Technologies to a “strong-buy” rating in a report on Thursday, September 19th. Northland Securities lifted their price objective on shares of HIVE Digital Technologies from $5.50 to $7.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Canaccord Genuity Group upped their price objective on shares of HIVE Digital Technologies from $6.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Roth Capital raised shares of HIVE Digital Technologies to a “strong-buy” rating in a report on Wednesday, December 18th. Finally, StockNews.com upgraded shares of HIVE Digital Technologies to a “sell” rating in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $7.42.

HIVE Digital Technologies Stock Down 6.6 %

Shares of HIVE Digital Technologies stock opened at $3.13 on Wednesday. The company has a quick ratio of 5.56, a current ratio of 5.56 and a debt-to-equity ratio of 0.06. The company has a market cap of $438.79 million, a P/E ratio of -22.36 and a beta of 3.46. The firm’s 50 day moving average price is $3.82 and its 200-day moving average price is $3.47. HIVE Digital Technologies has a 52-week low of $2.18 and a 52-week high of $5.54.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. The company had revenue of $22.65 million during the quarter, compared to analysts’ expectations 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 period last year, the business posted ($0.29) earnings per share. On average, sell-side analysts predict that HIVE Digital Technologies will post -0.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC acquired a new position in shares of HIVE Digital Technologies in the 2nd quarter worth approximately $36,000. Gladstone Institutional Advisory LLC purchased a new stake in HIVE Digital Technologies in the third quarter valued at approximately $44,000. Lifeworks Advisors LLC acquired a new position in HIVE Digital Technologies during the third quarter worth $35,000. Charles Schwab Investment Management Inc. grew its stake in shares of 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 buying an additional 106,103 shares in the last quarter. Finally, Centiva Capital LP purchased a new stake in shares of HIVE Digital Technologies in the 3rd quarter valued at $235,000. Hedge funds and other institutional investors own 24.42% of the company’s stock.

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.