HIVE Digital Technologies (NASDAQ:HIVE) Now Covered by Analysts at Northland Securities

Northland Securities started coverage on shares of HIVE Digital Technologies (NASDAQ:HIVE) in a research report issued on Thursday, MarketBeat.com reports. The firm set an “outperform” rating and a $5.50 price target on the stock. Northland Securities’ target price suggests a potential upside of 76.85% from the stock’s current price.

Several other brokerages have also recently weighed in on HIVE. HC Wainwright raised HIVE Digital Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $4.00 to $5.00 in a research note on Thursday, August 15th. Canaccord Genuity Group reissued a “buy” rating and set a $6.00 target price on shares of HIVE Digital Technologies in a research report on Wednesday, August 21st. B. Riley initiated coverage on HIVE Digital Technologies in a research report on Friday, July 19th. They issued a “buy” rating and a $6.00 price target for the company. Finally, StockNews.com upgraded shares of HIVE Digital Technologies to a “sell” rating in a research report on Sunday, June 9th. One investment analyst has rated the stock with a sell rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, HIVE Digital Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.70.

HIVE Digital Technologies Price Performance

Shares of HIVE opened at $3.11 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 7.35 and a quick ratio of 7.35. The stock has a market capitalization of $366.10 million, a price-to-earnings ratio of -5.27 and a beta of 3.48. HIVE Digital Technologies has a 1 year low of $2.18 and a 1 year high of $5.74. The business’s 50 day simple moving average is $3.26 and its 200-day simple moving average is $3.05.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.08) EPS for the quarter, meeting the consensus estimate of ($0.08). HIVE Digital Technologies had a negative net margin of 25.74% and a negative return on equity of 20.88%. The business had revenue of $32.24 million during the quarter, compared to analyst estimates of $31.85 million. As a group, equities analysts expect that HIVE Digital Technologies will post -0.28 earnings per share for the current fiscal year.

Institutional Trading of HIVE Digital Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Personalized Indexing Management LLC bought a new stake in shares of HIVE Digital Technologies during the second quarter valued at approximately $36,000. Impact Partnership Wealth LLC raised its position in HIVE Digital Technologies by 202.4% during the 2nd quarter. Impact Partnership Wealth LLC now owns 48,945 shares of the company’s stock valued at $151,000 after purchasing an additional 32,760 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of HIVE Digital Technologies by 35.4% in the 2nd quarter. Van ECK Associates Corp now owns 3,894,605 shares of the company’s stock worth $11,995,000 after buying an additional 1,018,231 shares during the period. Vident Advisory LLC grew its position in shares of HIVE Digital Technologies by 78.6% during the 1st quarter. Vident Advisory LLC now owns 1,737,308 shares of the company’s stock worth $5,856,000 after buying an additional 764,387 shares in the last quarter. Finally, MMCAP International Inc. SPC purchased a new position in shares of HIVE Digital Technologies during the first quarter valued at $11,227,000. Hedge funds and other institutional investors 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.