HIVE Digital Technologies (NASDAQ:HIVE) Receives “Buy” Rating from Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of HIVE Digital Technologies (NASDAQ:HIVE) in a research report released on Tuesday,Benzinga reports. They currently have a $10.00 price target on the stock.

Other equities research analysts have also issued research reports about the stock. Northland Securities set a $7.50 target price on shares of HIVE Digital Technologies in a report on Tuesday, October 7th. Wall Street Zen raised shares of HIVE Digital Technologies from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 16th. HC Wainwright reissued a “buy” rating and issued a $8.00 target price on shares of HIVE Digital Technologies in a research note on Wednesday, October 29th. Weiss Ratings restated a “sell (d+)” rating on shares of HIVE Digital Technologies in a report on Friday, October 31st. Finally, Roth Capital increased their price target on HIVE Digital Technologies from $6.00 to $7.50 and gave the company a “buy” rating in a report on Tuesday, August 26th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $8.29.

HIVE Digital Technologies Price Performance

Shares of HIVE Digital Technologies stock opened at $3.48 on Tuesday. The stock has a market capitalization of $827.23 million, a P/E ratio of -16.57 and a beta of 3.54. The business has a 50 day simple moving average of $4.80 and a two-hundred day simple moving average of $3.09. HIVE Digital Technologies has a 12 month low of $1.26 and a 12 month high of $7.84. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.42 and a quick ratio of 3.42.

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

Institutional Trading of HIVE Digital Technologies

Institutional investors have recently made changes to their positions in the company. Two Sigma Investments LP purchased a new stake in HIVE Digital Technologies in the third quarter valued at $17,584,000. Vident Advisory LLC increased its position in shares of HIVE Digital Technologies by 53.0% during the 2nd quarter. Vident Advisory LLC now owns 3,766,446 shares of the company’s stock worth $6,780,000 after purchasing an additional 1,305,057 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in HIVE Digital Technologies by 55.0% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,780,876 shares of the company’s stock valued at $11,212,000 after buying an additional 987,314 shares during the period. Charles Schwab Investment Management Inc. lifted its position in HIVE Digital Technologies by 87.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,383,446 shares of the company’s stock valued at $2,006,000 after buying an additional 647,159 shares during the last quarter. Finally, Tidal Investments LLC boosted its stake in HIVE Digital Technologies by 15.4% during the third quarter. Tidal Investments LLC now owns 4,771,312 shares of the company’s stock worth $19,228,000 after buying an additional 637,679 shares during the period. Hedge funds and other institutional investors 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.