HIVE Digital Technologies (NASDAQ:HIVE) Upgraded by Wall Street Zen to “Hold” Rating

HIVE Digital Technologies (NASDAQ:HIVE) was upgraded by Wall Street Zen from a “strong sell” rating to a “hold” rating in a report issued on Saturday.

Several other equities research analysts have also recently commented on the stock. Cantor Fitzgerald boosted their price target on shares of HIVE Digital Technologies from $5.00 to $5.50 and gave the stock an “overweight” rating in a research report on Friday, June 27th. HC Wainwright lowered their price objective on shares of HIVE Digital Technologies from $9.00 to $6.00 and set a “buy” rating on the stock in a research note on Friday, June 27th. Zacks Research raised shares of HIVE Digital Technologies to a “hold” rating in a research note on Friday, August 8th. Canaccord Genuity Group restated a “buy” rating and set a $9.00 target price on shares of HIVE Digital Technologies in a report on Thursday, July 3rd. Finally, Rosenblatt Securities decreased their price target on shares of HIVE Digital Technologies from $5.50 to $5.00 and set a “buy” rating on the stock in a research report on Friday, June 27th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $6.67.

HIVE Digital Technologies Price Performance

NASDAQ HIVE opened at $2.22 on Friday. HIVE Digital Technologies has a 12 month low of $1.26 and a 12 month high of $5.54. The firm has a market capitalization of $509.13 million, a PE ratio of -6.17 and a beta of 3.41. The company’s 50 day simple moving average is $2.10 and its 200 day simple moving average is $2.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.72 and a quick ratio of 3.72.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its quarterly earnings results on Wednesday, June 25th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.20). The firm had revenue of $31.16 million for the quarter, compared to analyst estimates of $31.47 million. HIVE Digital Technologies had a negative net margin of 48.65% and a negative return on equity of 20.30%. As a group, equities research analysts forecast that HIVE Digital Technologies will post -0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On HIVE Digital Technologies

Large investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in HIVE Digital Technologies in the 4th quarter worth approximately $26,000. Wells Fargo & Company MN lifted its holdings in shares of HIVE Digital Technologies by 60.9% in the fourth quarter. Wells Fargo & Company MN now owns 15,320 shares of the company’s stock valued at $44,000 after purchasing an additional 5,800 shares in the last quarter. Franklin Resources Inc. acquired a new stake in shares of HIVE Digital Technologies in the fourth quarter worth $53,000. LPL Financial LLC acquired a new stake in shares of HIVE Digital Technologies in the fourth quarter worth $54,000. Finally, Ethos Financial Group LLC purchased a new position in shares of HIVE Digital Technologies during the second quarter valued at $36,000. Institutional investors and hedge funds 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.