B. Riley Securities Has Lowered Expectations for HIVE Digital Technologies (NASDAQ:HIVE) Stock Price

HIVE Digital Technologies (NASDAQ:HIVE) had its target price cut by equities researchers at B. Riley Securities from $7.00 to $6.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley Securities’ price target would suggest a potential upside of 180.37% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. B. Riley Financial dropped their target price on HIVE Digital Technologies from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, November 21st. HC Wainwright lifted their price objective on shares of HIVE Digital Technologies from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Canaccord Genuity Group reiterated a “buy” rating and issued a $10.00 price objective on shares of HIVE Digital Technologies in a research note on Friday, November 21st. Rosenblatt Securities reissued a “buy” rating and set a $10.00 target price on shares of HIVE Digital Technologies in a report on Tuesday, November 18th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $3.50 price target (down from $11.00) on shares of HIVE Digital Technologies in a report on Tuesday, January 27th. Seven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, HIVE Digital Technologies presently has an average rating of “Moderate Buy” and an average target price of $7.44.

HIVE Digital Technologies Price Performance

Shares of HIVE opened at $2.14 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.55 and a quick ratio of 2.55. The company’s fifty day moving average price is $2.88 and its 200-day moving average price is $3.47. HIVE Digital Technologies has a 1-year low of $1.26 and a 1-year high of $7.84. The firm has a market capitalization of $536.97 million, a PE ratio of -10.19 and a beta of 3.58.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Two Sigma Investments LP acquired a new position in shares of HIVE Digital Technologies in the third quarter worth about $17,584,000. Renaissance Technologies LLC purchased a new position in shares of HIVE Digital Technologies in the 4th quarter valued at about $10,914,000. Vident Advisory LLC raised its holdings in HIVE Digital Technologies by 53.0% in 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in HIVE Digital Technologies by 55.0% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,780,876 shares of the company’s stock worth $11,212,000 after purchasing an additional 987,314 shares in the last quarter. Finally, UBS Group AG grew its holdings in HIVE Digital Technologies by 3,992.2% in the fourth quarter. UBS Group AG now owns 929,390 shares of the company’s stock valued at $2,398,000 after purchasing an additional 906,679 shares during the period. Hedge funds and other 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.