HIVE Digital Technologies (NASDAQ:HIVE) Rating Increased to Sell at StockNews.com

HIVE Digital Technologies (NASDAQ:HIVE) was upgraded by equities research analysts at StockNews.com to a “sell” rating in a research note issued on Tuesday.

Several other analysts have also weighed in on the company. Canaccord Genuity Group increased their price target on HIVE Digital Technologies from $6.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Northland Capmk raised HIVE Digital Technologies to a “strong-buy” rating in a research report on Thursday, September 19th. Northland Securities upped their price objective on HIVE Digital Technologies from $5.50 to $7.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $9.00 price objective on shares of HIVE Digital Technologies in a research report on Tuesday, November 19th. Finally, HC Wainwright upped their price objective on HIVE Digital Technologies from $5.00 to $8.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, HIVE Digital Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.40.

HIVE Digital Technologies Stock Performance

NASDAQ:HIVE opened at $4.34 on Tuesday. The stock’s fifty day moving average is $3.79 and its 200 day moving average is $3.36. HIVE Digital Technologies has a fifty-two week low of $2.18 and a fifty-two week high of $5.74. The firm has a market capitalization of $567.98 million, a PE ratio of -31.00 and a beta of 3.39. The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.56 and a current ratio of 5.56.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.03. HIVE Digital Technologies had a negative return on equity of 10.78% and a negative net margin of 12.04%. The company had revenue of $22.65 million for the quarter, compared to analyst estimates of $25.32 million. During the same quarter in the prior year, the firm posted ($0.29) EPS. On average, sell-side analysts anticipate that HIVE Digital Technologies will post -0.31 earnings per share for the current year.

Hedge Funds Weigh In On HIVE Digital Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp grew its position in shares of 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 worth $11,995,000 after buying an additional 1,018,231 shares in the last quarter. State Street Corp grew its position in shares of HIVE Digital Technologies by 2.9% during the 3rd quarter. State Street Corp now owns 3,214,101 shares of the company’s stock worth $10,060,000 after buying an additional 91,056 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of HIVE Digital Technologies by 48.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 325,216 shares of the company’s stock worth $1,018,000 after buying an additional 106,103 shares in the last quarter. XTX Topco Ltd bought a new position in shares of HIVE Digital Technologies during the 3rd quarter worth $463,000. Finally, Centiva Capital LP bought a new position in shares of HIVE Digital Technologies during the 3rd quarter worth $235,000. Institutional investors own 24.42% of the company’s stock.

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.