Keefe, Bruyette & Woods Initiates Coverage on HIVE Digital Technologies (NASDAQ:HIVE)

Analysts at Keefe, Bruyette & Woods initiated coverage on shares of HIVE Digital Technologies (NASDAQ:HIVE) in a report issued on Wednesday, Marketbeat reports. The brokerage set an “outperform” rating on the stock.

Several other brokerages have also weighed in on HIVE. Roth Capital raised shares of HIVE Digital Technologies to a “strong-buy” rating in a report on Wednesday, December 18th. Cantor Fitzgerald reiterated an “overweight” rating and set a $9.00 target price on shares of HIVE Digital Technologies in a research note on Tuesday, November 19th. HC Wainwright restated a “buy” rating and issued a $8.00 price target on shares of HIVE Digital Technologies in a research report on Tuesday, December 3rd. Northland Securities boosted their price objective on shares of HIVE Digital Technologies from $5.50 to $7.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Finally, StockNews.com raised shares of HIVE Digital Technologies to a “sell” rating in a report on Tuesday, December 3rd. 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $7.42.

HIVE Digital Technologies Price Performance

HIVE opened at $3.12 on Wednesday. HIVE Digital Technologies has a twelve month low of $2.18 and a twelve month high of $5.54. The firm has a market cap of $437.39 million, a price-to-earnings ratio of -22.28 and a beta of 3.46. The company has a current ratio of 5.56, a quick ratio of 5.56 and a debt-to-equity ratio of 0.06. The company has a fifty day simple moving average of $3.79 and a 200 day simple moving average of $3.47.

HIVE Digital Technologies (NASDAQ:HIVE) last released its earnings results on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.03. The company 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 period in the prior year, the business posted ($0.29) EPS. Equities research analysts expect that HIVE Digital Technologies will post -0.33 EPS for the current fiscal year.

Institutional Trading of HIVE Digital Technologies

Hedge funds have recently bought and sold shares of the company. XTX Topco Ltd bought a new position in HIVE Digital Technologies in the 3rd quarter worth about $463,000. Charles Schwab Investment Management Inc. boosted its position in shares of HIVE Digital Technologies by 48.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 325,216 shares of the company’s stock worth $1,018,000 after buying an additional 106,103 shares during the period. State Street Corp grew its holdings in HIVE Digital Technologies by 2.9% in the 3rd quarter. State Street Corp now owns 3,214,101 shares of the company’s stock worth $10,060,000 after buying an additional 91,056 shares in the last quarter. Centiva Capital LP bought a new position in shares of HIVE Digital Technologies in the third quarter worth $235,000. Finally, Virtu Financial LLC increased its holdings in shares of HIVE Digital Technologies by 527.9% during the third quarter. Virtu Financial LLC now owns 71,990 shares of the company’s stock valued at $225,000 after purchasing an additional 60,524 shares during the period. 24.42% of the stock is currently owned by institutional investors.

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.