HIVE Digital Technologies’ (HIVE) Overweight Rating Reaffirmed at Cantor Fitzgerald

HIVE Digital Technologies (NASDAQ:HIVE)‘s stock had its “overweight” rating restated by stock analysts at Cantor Fitzgerald in a report issued on Tuesday,Benzinga reports. They presently have a $9.00 price target on the stock. Cantor Fitzgerald’s price target indicates a potential upside of 116.35% from the stock’s current price.

A number of other research firms also recently weighed in on HIVE. HC Wainwright lifted their price target on shares of HIVE Digital Technologies from $5.00 to $8.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Canaccord Genuity Group boosted their price objective on HIVE Digital Technologies from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Northland Securities boosted their target price on HIVE Digital Technologies from $5.50 to $7.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Finally, Northland Capmk upgraded HIVE Digital Technologies to a “strong-buy” rating in a research report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, HIVE Digital Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.40.

HIVE Digital Technologies Price Performance

NASDAQ HIVE opened at $4.16 on Tuesday. The stock’s 50-day moving average price is $3.62 and its two-hundred day moving average price is $3.25. 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 market cap of $527.60 million, a PE ratio of -29.71 and a beta of 3.43. HIVE Digital Technologies has a 1 year low of $2.18 and a 1 year high of $5.74.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.03. The firm had revenue of $22.65 million for the quarter, compared to analyst estimates 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 last year, the firm earned ($0.29) earnings per share. On average, analysts predict that HIVE Digital Technologies will post -0.27 EPS for the current year.

Institutional Investors Weigh In On HIVE Digital Technologies

Large investors have recently added to or reduced their stakes in the business. Lifeworks Advisors LLC bought a new stake in HIVE Digital Technologies in the 3rd quarter valued at $35,000. Vanguard Personalized Indexing Management LLC bought a new stake in HIVE Digital Technologies in the 2nd quarter valued at $36,000. Gladstone Institutional Advisory LLC bought a new stake in HIVE Digital Technologies in the 3rd quarter valued at $44,000. Quadrature Capital Ltd bought a new stake in HIVE Digital Technologies in the 3rd quarter valued at $50,000. Finally, Wellington Management Group LLP bought a new stake in HIVE Digital Technologies in the 3rd quarter valued at $120,000. 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.