HIVE Digital Technologies (NASDAQ:HIVE) Receives “Buy” Rating from B. Riley

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

A number of other brokerages have also issued reports on HIVE. Wall Street Zen lowered shares of HIVE Digital Technologies from a “hold” rating to a “sell” rating in a research note on Saturday. Roth Capital upped their target price on shares of HIVE Digital Technologies from $6.00 to $7.50 and gave the stock a “buy” rating in a research note on Tuesday, August 26th. Northland Securities set a $7.50 target price on shares of HIVE Digital Technologies in a report on Tuesday, October 7th. Zacks Research upgraded shares of HIVE Digital Technologies to a “hold” rating in a research note on Friday, August 8th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $10.00 price objective on shares of HIVE Digital Technologies in a research report on Friday. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.13.

HIVE Digital Technologies Stock Down 1.0%

NASDAQ:HIVE opened at $2.89 on Friday. HIVE Digital Technologies has a 52 week low of $1.26 and a 52 week high of $7.84. The stock’s fifty day moving average is $4.77 and its two-hundred day moving average is $3.09. The stock has a market capitalization of $686.98 million, a price-to-earnings ratio of -13.76 and a beta of 3.54. The company has a quick ratio of 3.42, a current ratio of 2.55 and a debt-to-equity ratio of 0.02.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its quarterly earnings data 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 firm had revenue of $83.37 million during the quarter, compared to analyst estimates of $80.62 million. Research analysts anticipate that HIVE Digital Technologies will post -0.32 EPS for the current year.

Institutional Investors Weigh In On HIVE Digital Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of HIVE. Y Intercept Hong Kong Ltd purchased a new stake in shares of HIVE Digital Technologies during the 1st quarter worth $31,000. Caitong International Asset Management Co. Ltd lifted its holdings in HIVE Digital Technologies by 3,966.3% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 24,845 shares of the company’s stock worth $36,000 after buying an additional 24,234 shares during the last quarter. Ethos Financial Group LLC purchased a new stake in HIVE Digital Technologies during the 2nd quarter worth about $36,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of HIVE Digital Technologies during the 2nd quarter worth about $38,000. Finally, HBW Advisory Services LLC purchased a new position in shares of HIVE Digital Technologies in the 3rd quarter valued at about $40,000. 24.42% of the stock is currently owned by institutional investors and hedge funds.

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.