HIVE Digital Technologies (NASDAQ:HIVE) Price Target Cut to $5.00 by Analysts at B. Riley Financial

HIVE Digital Technologies (NASDAQ:HIVE) had its price target trimmed by B. Riley Financial from $8.00 to $5.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also commented on HIVE. Weiss Ratings upgraded HIVE Digital Technologies from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, August 14th. HC Wainwright dropped their target price on HIVE Digital Technologies from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Wednesday. Rosenblatt Securities upped their price target on HIVE Digital Technologies from $5.50 to $6.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $10.00 price target on shares of HIVE Digital Technologies in a research note on Monday, October 19th. Finally, Chardan Capital decreased their price target on HIVE Digital Technologies from $7.50 to $7.00 and set a “buy” rating on the stock in a report on Tuesday. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $6.40.

HIVE Digital Technologies Price Performance

HIVE opened at $1.75 on Wednesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.55 and a quick ratio of 1.96. The stock has a market capitalization of $484.26 million, a P/E ratio of -1.16 and a beta of 3.76. The company’s 50 day simple moving average is $2.54 and its 200-day simple moving average is $2.78. HIVE Digital Technologies has a one year low of $1.58 and a one year high of $5.34.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its quarterly earnings data on Monday, November 9th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.13). HIVE Digital Technologies had a negative return on equity of 43.76% and a negative net margin of 118.13%. The company had revenue of $84.88 million during the quarter, compared to the consensus estimate of $79.44 million. Sell-side analysts anticipate that HIVE Digital Technologies will post -0.66 earnings per share for the current fiscal year.

Insider Buying and Selling at HIVE Digital Technologies

In related news, Director Dave Perrill sold 12,500 shares of the stock in a transaction that occurred on Wednesday, October 7th. The shares were sold at an average price of $2.75, for a total value of $34,375.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 9.44% of the stock is currently owned by company insiders.

Institutional Trading of HIVE Digital Technologies

Institutional investors have recently bought and sold shares of the business. Private Advisor Group LLC lifted its stake in shares of HIVE Digital Technologies by 50.3% in the 3rd quarter. Private Advisor Group LLC now owns 47,900 shares of the company’s stock valued at $141,000 after purchasing an additional 16,037 shares during the period. Clearwater Capital Advisors LLC bought a new position in shares of HIVE Digital Technologies in the 3rd quarter worth $64,000. Jefferies Financial Group Inc. acquired a new stake in shares of HIVE Digital Technologies during the third quarter worth $54,000. StoneX Group Inc. acquired a new stake in shares of HIVE Digital Technologies during the third quarter worth $40,000. Finally, Calamos Advisors LLC acquired a new stake in shares of HIVE Digital Technologies during the third quarter worth $173,000. Institutional investors and hedge funds own 24.42% of the company’s stock.

Key HIVE Digital Technologies News

These are some of the HIVE news items that stood out recently:

• Positive Sentiment: HIVE is targeting $45 million in annual AI revenue from its Sweden data center, offering investors a potential additional revenue stream beyond Bitcoin mining. HIVE AI revenue target
• Positive Sentiment: The company added 79 Bitcoin in Q3, bringing its treasury to 269 BTC, and has rapidly expanded mining capacity—potentially boosting output if Bitcoin prices and mining economics improve. HIVE adds Bitcoin
• Neutral Sentiment: B. Riley and HC Wainwright lowered their price targets to $5 from $8 and $6, respectively, but both kept Buy ratings. Chardan also cut its target, to $7.00 from $7.50, while maintaining Buy. The reductions temper analyst optimism, even as the ratings remain positive. B. Riley target change

HIVE Digital Technologies Company Profile

HIVE Digital Technologies Ltd. is a digital infrastructure company focused on cryptocurrency mining and high-performance computing. Its operations include data centers that support Bitcoin mining, as well as computing services for applications such as artificial intelligence and other data-intensive workloads. Founded in 2017 as HIVE Blockchain Technologies, the company initially focused on mining digital assets, including Ethereum. It has since expanded its emphasis on Bitcoin mining and high-performance computing.