HIVE Digital Technologies (NASDAQ:HIVE) Earns Buy Rating from HC Wainwright

HIVE Digital Technologies (NASDAQ:HIVE)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a research report issued on Thursday,Benzinga reports. They presently have a $10.00 price target on the stock, up from their previous price target of $8.00. HC Wainwright’s target price would suggest a potential upside of 263.64% from the stock’s current price.

Several other equities analysts also recently issued reports on HIVE. Cantor Fitzgerald reiterated an “overweight” rating and issued a $9.00 price objective on shares of HIVE Digital Technologies in a research report on Tuesday, November 19th. Keefe, Bruyette & Woods started coverage on HIVE Digital Technologies in a research note on Wednesday, January 8th. They issued an “outperform” rating for the company. Roth Capital raised HIVE Digital Technologies to a “strong-buy” rating in a research note on Wednesday, December 18th. StockNews.com upgraded HIVE Digital Technologies to a “sell” rating in a report on Tuesday, January 14th. Finally, Northland Securities upped their target price on shares of HIVE Digital Technologies from $5.50 to $7.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, HIVE Digital Technologies presently has a consensus rating of “Buy” and a consensus target price of $8.08.

HIVE Digital Technologies Stock Up 1.1 %

Shares of HIVE stock opened at $2.75 on Thursday. HIVE Digital Technologies has a one year low of $2.18 and a one year high of $5.54. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.56 and a quick ratio of 5.56. The stock has a fifty day moving average price of $3.19 and a 200 day moving average price of $3.37. The stock has a market cap of $407.19 million, a P/E ratio of -19.64 and a beta of 3.46.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its earnings results on Tuesday, February 11th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.05. HIVE Digital Technologies had a negative return on equity of 10.78% and a negative net margin of 12.04%. Analysts predict that HIVE Digital Technologies will post -0.34 earnings per share for the current year.

Institutional Investors Weigh In On HIVE Digital Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HIVE. Generali Investments CEE investicni spolecnost a.s. bought a new position in HIVE Digital Technologies during the fourth quarter worth about $2,058,000. Van ECK Associates Corp raised its position in shares of HIVE Digital Technologies by 17.9% in the 4th quarter. Van ECK Associates Corp now owns 4,562,489 shares of the company’s stock valued at $13,003,000 after acquiring an additional 692,799 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of HIVE Digital Technologies by 126.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 736,287 shares of the company’s stock valued at $2,098,000 after acquiring an additional 411,071 shares during the period. Quantbot Technologies LP bought a new position in HIVE Digital Technologies during the 4th quarter worth approximately $854,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in HIVE Digital Technologies during the fourth quarter valued at approximately $811,000. 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.