HIVE Digital Technologies (NASDAQ:HIVE) Research Coverage Started at Northland Securities

Northland Securities assumed coverage on shares of HIVE Digital Technologies (NASDAQ:HIVE) in a report published on Thursday, Marketbeat reports. The firm issued an outperform rating and a $5.50 price target on the stock.

Other analysts also recently issued research reports about the company. StockNews.com upgraded HIVE Digital Technologies to a sell rating in a research note on Sunday, June 9th. B. Riley initiated coverage on HIVE Digital Technologies in a research note on Friday, July 19th. They issued a buy rating and a $6.00 price target on the stock. Canaccord Genuity Group restated a buy rating and issued a $6.00 price target on shares of HIVE Digital Technologies in a research note on Wednesday, August 21st. Finally, HC Wainwright upgraded HIVE Digital Technologies from a neutral rating to a buy rating and upped their price target for the stock from $4.00 to $5.00 in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $5.70.

HIVE Digital Technologies Stock Performance

Shares of HIVE Digital Technologies stock opened at $3.11 on Thursday. HIVE Digital Technologies has a 12 month low of $2.18 and a 12 month high of $5.74. The firm has a market capitalization of $366.10 million, a P/E ratio of -5.27 and a beta of 3.48. The company has a current ratio of 7.35, a quick ratio of 7.35 and a debt-to-equity ratio of 0.06. The business has a fifty day simple moving average of $3.25 and a two-hundred day simple moving average of $3.04.

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

Institutional Trading of HIVE Digital Technologies

Several institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp boosted its stake in HIVE Digital Technologies by 35.4% during the 2nd quarter. Van ECK Associates Corp now owns 3,894,605 shares of the company’s stock valued at $11,995,000 after purchasing an additional 1,018,231 shares during the last quarter. MMCAP International Inc. SPC purchased a new stake in HIVE Digital Technologies during the 1st quarter valued at $11,227,000. Vident Advisory LLC lifted its holdings 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 valued at $5,856,000 after buying an additional 764,387 shares during the period. Quadrature Capital Ltd bought a new position in shares of HIVE Digital Technologies during the 4th quarter valued at $458,000. Finally, Impact Partnership Wealth LLC grew its holdings in shares of HIVE Digital Technologies by 202.4% in the second quarter. Impact Partnership Wealth LLC now owns 48,945 shares of the company’s stock worth $151,000 after acquiring an additional 32,760 shares during the period. 24.42% of the stock is currently owned by hedge funds and other institutional investors.

About HIVE Digital Technologies

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.