Northland Securities Increases HIVE Digital Technologies (NASDAQ:HIVE) Price Target to $7.00

HIVE Digital Technologies (NASDAQ:HIVE) had its price target boosted by Northland Securities from $5.50 to $7.00 in a research report report published on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

HIVE has been the subject of several other research reports. Cantor Fitzgerald started coverage on HIVE Digital Technologies in a research report on Tuesday, October 29th. They set an “overweight” rating and a $9.00 price target for the company. Canaccord Genuity Group boosted their target price on shares of HIVE Digital Technologies from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Thursday. HC Wainwright raised 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. Northland Capmk raised shares of HIVE Digital Technologies to a “strong-buy” rating in a research report on Thursday, September 19th. Finally, B. Riley initiated coverage on shares of HIVE Digital Technologies in a research report on Friday, July 19th. They set a “buy” rating and a $6.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $7.40.

HIVE Digital Technologies Trading Up 3.0 %

NASDAQ:HIVE opened at $4.43 on Thursday. HIVE Digital Technologies has a 52-week low of $2.18 and a 52-week high of $5.74. The company has a quick ratio of 7.35, a current ratio of 5.56 and a debt-to-equity ratio of 0.06. The stock has a fifty day simple moving average of $3.54 and a 200-day simple moving average of $3.22. The company has a market capitalization of $561.86 million, a PE ratio of -31.64 and a beta of 3.43.

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. HIVE Digital Technologies had a negative net margin of 12.04% and a negative return on equity of 10.78%. The company had revenue of $22.65 million during the quarter, compared to analysts’ expectations of $25.32 million. During the same quarter in the previous year, the business posted ($0.29) earnings per share. On average, equities research analysts expect that HIVE Digital Technologies will post -0.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On HIVE Digital Technologies

A number of institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp boosted its holdings in shares of HIVE Digital Technologies by 35.4% in the 2nd quarter. Van ECK Associates Corp now owns 3,894,605 shares of the company’s stock valued at $11,995,000 after purchasing an additional 1,018,231 shares during the last quarter. Impact Partnership Wealth LLC increased its stake in HIVE Digital Technologies by 202.4% during the second quarter. Impact Partnership Wealth LLC now owns 48,945 shares of the company’s stock worth $151,000 after acquiring an additional 32,760 shares during the last quarter. Vanguard Personalized Indexing Management LLC purchased a new position in shares of HIVE Digital Technologies in the 2nd quarter worth about $36,000. Gladstone Institutional Advisory LLC acquired a new position in shares of HIVE Digital Technologies in the 3rd quarter valued at about $44,000. Finally, Lifeworks Advisors LLC purchased a new stake in shares of HIVE Digital Technologies during the 3rd quarter worth about $35,000. 24.42% of the stock is currently owned by hedge funds and other 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.