Roth Mkm Initiates Coverage on HIVE Digital Technologies (NASDAQ:HIVE)

Roth Mkm began coverage on shares of HIVE Digital Technologies (NASDAQ:HIVE) in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage set a “buy” rating and a $7.50 price target on the stock. Roth Mkm’s price target points to a potential upside of 120.59% from the company’s current price.

HIVE has been the topic of several other reports. Northland Capmk raised shares of HIVE Digital Technologies to a “strong-buy” rating in a research report on Thursday, September 19th. StockNews.com raised shares of HIVE Digital Technologies to a “sell” rating in a research note on Tuesday, December 3rd. Northland Securities increased their target price on HIVE Digital Technologies from $5.50 to $7.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Cantor Fitzgerald reissued an “overweight” rating and set a $9.00 price target on shares of HIVE Digital Technologies in a research report on Tuesday, November 19th. Finally, Canaccord Genuity Group upped their price target on HIVE Digital Technologies from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, HIVE Digital Technologies currently has an average rating of “Moderate Buy” and an average target price of $7.42.

HIVE Digital Technologies Stock Performance

Shares of NASDAQ HIVE opened at $3.40 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.56 and a quick ratio of 5.56. The company has a market cap of $457.73 million, a PE ratio of -24.28 and a beta of 3.39. The company has a 50-day simple moving average of $3.97 and a 200-day simple moving average of $3.46. HIVE Digital Technologies has a 12 month low of $2.18 and a 12 month high of $5.74.

HIVE Digital Technologies (NASDAQ:HIVE) last released its earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, topping 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 firm had revenue of $22.65 million for the quarter, compared to the consensus estimate of $25.32 million. During the same period in the prior year, the business posted ($0.29) earnings per share. On average, equities analysts anticipate that HIVE Digital Technologies will post -0.33 earnings per share for the current year.

Institutional Inflows and Outflows

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

HIVE Digital Technologies Company Profile

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.