HIVE Digital Technologies (NASDAQ:HIVE) Raised to Strong-Buy at Roth Capital

HIVE Digital Technologies (NASDAQ:HIVE) was upgraded by analysts at Roth Capital to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

A number of other research analysts also recently issued reports on the company. StockNews.com raised HIVE Digital Technologies to a “sell” rating in a report on Tuesday, December 3rd. HC Wainwright restated a “buy” rating and set a $8.00 target price on shares of HIVE Digital Technologies in a research note on Tuesday, December 3rd. Roth Mkm assumed coverage on shares of HIVE Digital Technologies in a research note on Thursday. They issued a “buy” rating and a $7.50 price target for the company. Cantor Fitzgerald restated an “overweight” rating and set a $9.00 price objective on shares of HIVE Digital Technologies in a research report on Tuesday, November 19th. Finally, Northland Capmk raised shares of HIVE Digital Technologies to a “strong-buy” rating in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $7.42.

HIVE Digital Technologies Price Performance

HIVE opened at $3.14 on Wednesday. The firm has a market cap of $422.73 million, a PE ratio of -22.43 and a beta of 3.39. The stock has a 50-day moving average price of $3.97 and a 200-day moving average price of $3.46. HIVE Digital Technologies has a 1 year low of $2.18 and a 1 year high of $5.74. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.56 and a quick ratio of 5.56.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.03. The firm had revenue of $22.65 million for the quarter, compared to the consensus estimate of $25.32 million. HIVE Digital Technologies had a negative net margin of 12.04% and a negative return on equity of 10.78%. During the same quarter in the prior year, the firm posted ($0.29) earnings per share. Sell-side analysts predict that HIVE Digital Technologies will post -0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On HIVE Digital Technologies

A number of institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC increased its position in HIVE Digital Technologies by 527.9% in the third quarter. Virtu Financial LLC now owns 71,990 shares of the company’s stock worth $225,000 after buying an additional 60,524 shares in the last quarter. Toronto Dominion Bank grew its stake in shares of HIVE Digital Technologies by 86,334.5% during the 3rd quarter. Toronto Dominion Bank now owns 50,132 shares of the company’s stock valued at $157,000 after acquiring an additional 50,074 shares during the period. XTX Topco Ltd purchased a new stake in HIVE Digital Technologies in the 3rd quarter worth approximately $463,000. Wellington Management Group LLP bought a new stake in HIVE Digital Technologies during the 3rd quarter worth approximately $120,000. Finally, State Street Corp lifted its holdings in HIVE Digital Technologies by 2.9% during the third 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. 24.42% of the stock is owned by 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.