B. Riley Reaffirms Buy Rating for HIVE Digital Technologies (NASDAQ:HIVE)

HIVE Digital Technologies (NASDAQ:HIVE)‘s stock had its “buy” rating restated by research analysts at B. Riley in a note issued to investors on Friday, Marketbeat reports.

A number of other brokerages also recently issued reports on HIVE. HC Wainwright lifted their price target on HIVE Digital Technologies from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $10.00 price objective on shares of HIVE Digital Technologies in a report on Friday. Rosenblatt Securities reaffirmed a “buy” rating and set a $10.00 price target on shares of HIVE Digital Technologies in a research note on Tuesday, November 18th. Weiss Ratings reiterated a “sell (d+)” rating on shares of HIVE Digital Technologies in a report on Friday, October 31st. Finally, Northland Securities set a $7.50 price objective on HIVE Digital Technologies in a report on Tuesday, October 7th. Eight 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $8.13.

HIVE Digital Technologies Stock Down 1.0%

HIVE opened at $2.89 on Friday. HIVE Digital Technologies has a 12 month low of $1.26 and a 12 month high of $7.84. The company has a market cap of $686.98 million, a PE ratio of -13.76 and a beta of 3.54. The company has a current ratio of 2.55, a quick ratio of 3.42 and a debt-to-equity ratio of 0.02. The company has a 50 day moving average of $4.77 and a 200 day moving average of $3.10.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its quarterly earnings results on Friday, November 14th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate 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 net margin of 16.18% and a negative return on equity of 14.15%. On average, sell-side analysts expect that HIVE Digital Technologies will post -0.32 EPS for the current year.

Hedge Funds Weigh In On HIVE Digital Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HIVE. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in HIVE Digital Technologies by 3.5% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 128,801 shares of the company’s stock valued at $519,000 after buying an additional 4,351 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in HIVE Digital Technologies by 21.4% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 25,388 shares of the company’s stock worth $102,000 after acquiring an additional 4,472 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in HIVE Digital Technologies by 21.9% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 30,280 shares of the company’s stock valued at $55,000 after acquiring an additional 5,435 shares during the last quarter. Invesco Ltd. lifted its stake in HIVE Digital Technologies by 6.4% in the 2nd quarter. Invesco Ltd. now owns 152,782 shares of the company’s stock worth $275,000 after purchasing an additional 9,241 shares in the last quarter. Finally, WMG Financial Advisors LLC acquired a new position in shares of HIVE Digital Technologies during the 3rd quarter worth approximately $40,000. 24.42% of the stock is owned by hedge funds and other institutional investors.

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.