HIVE Digital Technologies (NASDAQ:HIVE) Given Market Perform Rating at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reaffirmed their market perform rating on shares of HIVE Digital Technologies (NASDAQ:HIVE) in a research report sent to investors on Tuesday morning, Marketbeat reports. The firm currently has a $3.50 target price on the stock, down from their previous target price of $11.00.

A number of other research firms have also weighed in on HIVE. Northland Securities set a $7.50 target price on shares of HIVE Digital Technologies in a report on Tuesday, October 7th. HC Wainwright boosted their price target on shares of 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 issued a $10.00 price target on shares of HIVE Digital Technologies in a report on Friday, November 21st. B. Riley dropped their price objective on HIVE Digital Technologies from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, November 21st. Finally, Rosenblatt Securities restated a “buy” rating and set a $10.00 target price on shares of HIVE Digital Technologies in a research report on Tuesday, November 18th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $7.63.

HIVE Digital Technologies Stock Performance

NASDAQ:HIVE opened at $3.04 on Tuesday. The business’s fifty day moving average is $3.05 and its 200 day moving average is $3.48. The firm has a market cap of $756.35 million, a price-to-earnings ratio of -14.48 and a beta of 3.58. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.55 and a current ratio of 2.55. HIVE Digital Technologies has a 52-week low of $1.26 and a 52-week high of $7.84.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its 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). HIVE Digital Technologies had a negative net margin of 16.18% and a negative return on equity of 14.15%. The company had revenue of $83.37 million for the quarter, compared to analysts’ expectations of $80.62 million. Research analysts predict that HIVE Digital Technologies will post -0.32 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Generali Investments CEE investicni spolecnost a.s. boosted its stake in HIVE Digital Technologies by 45.4% in the second quarter. Generali Investments CEE investicni spolecnost a.s. now owns 1,244,230 shares of the company’s stock worth $2,240,000 after buying an additional 388,280 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new position in shares of HIVE Digital Technologies during the second quarter worth approximately $139,000. Voya Investment Management LLC bought a new stake in shares of HIVE Digital Technologies in the 3rd quarter worth approximately $1,672,000. Tobam boosted its stake in shares of HIVE Digital Technologies by 428.0% in the 2nd quarter. Tobam now owns 65,234 shares of the company’s stock valued at $117,000 after purchasing an additional 52,880 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of HIVE Digital Technologies by 79.6% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 124,450 shares of the company’s stock valued at $224,000 after purchasing an additional 55,141 shares in the last quarter. Institutional investors own 24.42% of the company’s stock.

HIVE Digital Technologies Company Profile

HIVE Digital Technologies Ltd is a publicly traded blockchain infrastructure company that specializes in the mining of digital assets such as Bitcoin and Ethereum. Using high-performance GPU and ASIC hardware, HIVE deploys proprietary mining rigs across multiple data centers to validate transactions on major blockchain networks. The company’s operations are designed to maximize hashing power while maintaining efficiency and uptime, enabling it to build and hold a portfolio of mined cryptocurrencies.

Headquartered in Vancouver, British Columbia, HIVE Digital operates data center facilities in North America and Europe, including Canada, Sweden and Iceland.