HIVE Digital Technologies (NASDAQ:HIVE) Coverage Initiated by Analysts at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods started coverage on shares of HIVE Digital Technologies (NASDAQ:HIVE) in a report released on Wednesday morning, MarketBeat.com reports. The brokerage issued an outperform rating on the stock.

HIVE has been the subject of several other reports. Northland Capmk upgraded HIVE Digital Technologies to a “strong-buy” rating in a research report on Thursday, September 19th. HC Wainwright reiterated a “buy” rating and issued a $8.00 price target on shares of HIVE Digital Technologies in a report on Tuesday, December 3rd. Northland Securities raised their price objective on shares of HIVE Digital Technologies from $5.50 to $7.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Canaccord Genuity Group boosted their price objective on shares of HIVE Digital Technologies from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $9.00 target price on shares of HIVE Digital Technologies in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $7.42.

HIVE Digital Technologies Stock Performance

HIVE Digital Technologies stock opened at $3.12 on Wednesday. HIVE Digital Technologies has a fifty-two week low of $2.18 and a fifty-two week high of $5.54. The company has a market cap of $437.39 million, a P/E ratio of -22.28 and a beta of 3.46. 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 firm’s 50 day simple moving average is $3.80 and its 200-day simple moving average is $3.47.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. The firm had revenue of $22.65 million during the quarter, compared to analysts’ expectations of $25.32 million. HIVE Digital Technologies had a negative return on equity of 10.78% and a negative net margin of 12.04%. During the same quarter in the prior year, the business earned ($0.29) earnings per share. As a group, equities research analysts predict that HIVE Digital Technologies will post -0.33 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp boosted its stake 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 worth $10,060,000 after acquiring an additional 91,056 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in 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 valued at $1,018,000 after acquiring an additional 106,103 shares during the period. XTX Topco Ltd purchased a new stake in HIVE Digital Technologies in the third quarter worth approximately $463,000. Centiva Capital LP purchased a new stake in shares of HIVE Digital Technologies during the 3rd quarter valued at about $235,000. Finally, Virtu Financial LLC raised 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 acquiring an additional 60,524 shares during the period. 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.