Cantor Fitzgerald Has Lowered Expectations for HIVE Digital Technologies (NASDAQ:HIVE) Stock Price

HIVE Digital Technologies (NASDAQ:HIVE) had its target price reduced by research analysts at Cantor Fitzgerald from $10.00 to $8.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 368.93% from the stock’s current price.

HIVE has been the topic of several other research reports. Rosenblatt Securities assumed coverage on HIVE Digital Technologies in a report on Friday. They issued a “buy” rating and a $6.00 price target on the stock. Roth Capital upgraded HIVE Digital Technologies to a “strong-buy” rating in a research note on Wednesday, December 18th. Northland Securities upped their price target on shares of HIVE Digital Technologies from $5.50 to $7.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Keefe, Bruyette & Woods began coverage on shares of HIVE Digital Technologies in a research report on Wednesday, January 8th. They issued an “outperform” rating on the stock. Finally, Roth Mkm began coverage on shares of HIVE Digital Technologies in a research note on Thursday, December 19th. They set a “buy” rating and a $7.50 target price for the company. One research analyst has rated the stock with a sell rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $7.64.

HIVE Digital Technologies Stock Performance

Shares of NASDAQ:HIVE traded down $0.02 on Tuesday, reaching $1.71. 1,587,101 shares of the company’s stock were exchanged, compared to its average volume of 5,411,912. The business’s 50-day moving average is $2.75 and its two-hundred day moving average is $3.28. The company has a quick ratio of 10.41, a current ratio of 10.41 and a debt-to-equity ratio of 0.03. HIVE Digital Technologies has a fifty-two week low of $1.68 and a fifty-two week high of $5.54. The firm has a market capitalization of $269.71 million, a price-to-earnings ratio of -34.50 and a beta of 3.51.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.05. HIVE Digital Technologies had a negative net margin of 5.45% and a negative return on equity of 8.95%. As a group, equities research analysts forecast that HIVE Digital Technologies will post -0.32 EPS for the current year.

Institutional Trading of HIVE Digital Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of HIVE Digital Technologies in the fourth quarter valued at approximately $26,000. Lifeworks Advisors LLC acquired a new stake in HIVE Digital Technologies in the third quarter worth approximately $35,000. Wells Fargo & Company MN lifted its position in HIVE Digital Technologies by 60.9% in the fourth quarter. Wells Fargo & Company MN now owns 15,320 shares of the company’s stock worth $44,000 after purchasing an additional 5,800 shares during the period. Quadrature Capital Ltd bought a new position in HIVE Digital Technologies during the 3rd quarter valued at $50,000. Finally, Franklin Resources Inc. acquired a new position in shares of HIVE Digital Technologies during the 4th quarter valued at $53,000. 24.42% of the stock is currently 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.