HIVE Digital Technologies (NASDAQ:HIVE) Upgraded at Northland Capmk

HIVE Digital Technologies (NASDAQ:HIVE) was upgraded by stock analysts at Northland Capmk to a “strong-buy” rating in a report issued on Thursday, Zacks.com reports.

Other equities research analysts have also issued reports about the stock. B. Riley initiated coverage on shares of HIVE Digital Technologies in a research note on Friday, July 19th. They issued a “buy” rating and a $6.00 price objective on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $6.00 price target on shares of HIVE Digital Technologies in a research report on Wednesday, August 21st. Northland Securities started coverage on HIVE Digital Technologies in a research report on Thursday. They issued an “outperform” rating and a $5.50 price objective for the company. HC Wainwright upgraded HIVE Digital Technologies from a “neutral” rating to a “buy” rating and upped their target price for the company from $4.00 to $5.00 in a research report on Thursday, August 15th. Finally, StockNews.com upgraded HIVE Digital Technologies to a “sell” rating in a report on Sunday, June 9th. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, HIVE Digital Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $5.70.

HIVE Digital Technologies Stock Up 4.0 %

Shares of NASDAQ:HIVE opened at $3.11 on Thursday. The business has a fifty day simple moving average of $3.26 and a 200 day simple moving average of $3.05. HIVE Digital Technologies has a 12-month low of $2.18 and a 12-month high of $5.74. The firm has a market cap of $366.10 million, a P/E ratio of -5.27 and a beta of 3.48. The company has a quick ratio of 7.35, a current ratio of 7.35 and a debt-to-equity ratio of 0.06.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.08) EPS for the quarter, hitting analysts’ consensus estimates of ($0.08). The company had revenue of $32.24 million for the quarter, compared to analyst estimates of $31.85 million. HIVE Digital Technologies had a negative return on equity of 20.88% and a negative net margin of 25.74%. Analysts predict that HIVE Digital Technologies will post -0.28 earnings per share for the current year.

Hedge Funds Weigh In On HIVE Digital Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Chesapeake Capital Corp IL bought a new stake in HIVE Digital Technologies in the 4th quarter valued at about $92,000. Scotia Capital Inc. bought a new stake in shares of HIVE Digital Technologies during the fourth quarter valued at approximately $64,000. Quadrature Capital Ltd acquired a new position in shares of HIVE Digital Technologies during the fourth quarter worth approximately $458,000. Sloy Dahl & Holst LLC bought a new position in shares of HIVE Digital Technologies in the 1st quarter worth $41,000. Finally, Van ECK Associates Corp grew its position in HIVE Digital Technologies by 56.0% in the 1st quarter. Van ECK Associates Corp now owns 2,876,374 shares of the company’s stock valued at $9,693,000 after purchasing an additional 1,032,672 shares during the period. Institutional investors 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.