HC Wainwright Issues Positive Forecast for HIVE Digital Technologies (NASDAQ:HIVE) Stock Price

HIVE Digital Technologies (NASDAQ:HIVE) had its price target lifted by HC Wainwright from $8.00 to $10.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the stock. Zacks Research raised shares of HIVE Digital Technologies to a “hold” rating in a report on Friday, August 8th. B. Riley reissued a “buy” rating on shares of HIVE Digital Technologies in a research report on Wednesday, October 22nd. Northland Securities set a $7.50 target price on HIVE Digital Technologies in a research note on Tuesday, October 7th. Wall Street Zen raised HIVE Digital Technologies from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 16th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $10.00 price target on shares of HIVE Digital Technologies in a report on Monday, October 13th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.29.

HIVE Digital Technologies Stock Performance

Shares of NASDAQ:HIVE opened at $3.48 on Tuesday. The company has a market cap of $827.23 million, a P/E ratio of -16.57 and a beta of 3.54. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.42 and a current ratio of 3.42. HIVE Digital Technologies has a one year low of $1.26 and a one year high of $7.84. The business’s 50-day simple moving average is $4.80 and its 200 day simple moving average is $3.09.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings results on Friday, November 14th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The company had revenue of $83.37 million during the quarter, compared to analysts’ expectations of $80.62 million. HIVE Digital Technologies had a negative return on equity of 15.20% and a negative net margin of 16.18%. On average, sell-side analysts forecast that HIVE Digital Technologies will post -0.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On HIVE Digital Technologies

A number of institutional investors have recently modified their holdings of the stock. WMG Financial Advisors LLC bought a new position in shares of HIVE Digital Technologies during the third quarter worth about $40,000. HBW Advisory Services LLC bought a new stake in HIVE Digital Technologies in the third quarter valued at about $40,000. PKS Advisory Services LLC acquired a new stake in HIVE Digital Technologies during the third quarter valued at approximately $44,000. R Squared Ltd bought a new position in HIVE Digital Technologies during the 3rd quarter worth approximately $45,000. Finally, PFG Private Wealth Management LLC bought a new position in HIVE Digital Technologies during the 3rd quarter worth approximately $54,000. Institutional investors and hedge funds own 24.42% of the company’s stock.

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.