Rosenblatt Securities Cuts HIVE Digital Technologies (NASDAQ:HIVE) Price Target to $4.50

HIVE Digital Technologies (NASDAQ:HIVE) had its price target dropped by research analysts at Rosenblatt Securities from $6.50 to $4.50 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Rosenblatt Securities’ price objective suggests a potential upside of 112.26% from the stock’s previous close.

A number of other research analysts have also recently commented on HIVE. Canaccord Genuity Group reaffirmed a “buy” rating and set a $10.00 price target on shares of HIVE Digital Technologies in a research report on Friday, November 21st. Wall Street Zen downgraded shares of HIVE Digital Technologies from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $3.50 target price (down previously from $11.00) on shares of HIVE Digital Technologies in a research note on Tuesday, January 27th. Weiss Ratings reissued a “sell (d+)” rating on shares of HIVE Digital Technologies in a research report on Wednesday, January 28th. Finally, B. Riley Financial cut their price objective on shares of HIVE Digital Technologies from $7.00 to $6.00 and set a “buy” rating for the company in a report on Friday, February 13th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $6.81.

HIVE Digital Technologies Price Performance

HIVE Digital Technologies stock opened at $2.12 on Wednesday. The business’s 50 day simple moving average is $2.82 and its 200 day simple moving average is $3.49. 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 $531.95 million, a price-to-earnings ratio of -10.10 and a beta of 3.58. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.02.

Institutional Trading of HIVE Digital Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in HIVE Digital Technologies by 18.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 878,457 shares of the company’s stock valued at $1,283,000 after purchasing an additional 137,651 shares during the period. Goldman Sachs Group Inc. raised its position in shares of HIVE Digital Technologies by 328.2% in the first quarter. Goldman Sachs Group Inc. now owns 520,877 shares of the company’s stock worth $755,000 after buying an additional 399,223 shares in the last quarter. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of HIVE Digital Technologies in the second quarter worth $38,000. Chicago Partners Investment Group LLC bought a new stake in HIVE Digital Technologies during the second quarter valued at $139,000. Finally, Caitong International Asset Management Co. Ltd grew its position in HIVE Digital Technologies by 21.9% during the second quarter. Caitong International Asset Management Co. Ltd now owns 30,280 shares of the company’s stock worth $55,000 after buying an additional 5,435 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.