HIVE Digital Technologies (NASDAQ:HIVE) Raised to “Strong-Buy” at Roth Capital

HIVE Digital Technologies (NASDAQ:HIVE) was upgraded by stock analysts at Roth Capital to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other research firms also recently weighed in on HIVE. Roth Mkm started coverage on HIVE Digital Technologies in a research report on Thursday. They issued a “buy” rating and a $7.50 target price on the stock. Northland Capmk raised shares of HIVE Digital Technologies to a “strong-buy” rating in a report on Thursday, September 19th. HC Wainwright reiterated a “buy” rating and issued a $8.00 target price on shares of HIVE Digital Technologies in a report on Tuesday, December 3rd. StockNews.com upgraded HIVE Digital Technologies to a “sell” rating in a report on Tuesday, December 3rd. Finally, Canaccord Genuity Group lifted their target price on HIVE Digital Technologies from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, HIVE Digital Technologies has a consensus rating of “Buy” and an average price target of $7.42.

HIVE Digital Technologies Price Performance

NASDAQ:HIVE opened at $3.14 on Wednesday. The company has a quick ratio of 5.56, a current ratio of 5.56 and a debt-to-equity ratio of 0.06. HIVE Digital Technologies has a 52 week low of $2.18 and a 52 week high of $5.74. The stock’s 50-day moving average price is $3.97 and its 200-day moving average price is $3.46. The stock has a market capitalization of $422.73 million, a PE ratio of -22.43 and a beta of 3.39.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. The business 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 previous year, the business earned ($0.29) earnings per share. As a group, equities analysts expect that HIVE Digital Technologies will post -0.33 EPS for the current fiscal year.

Institutional Investors Weigh In On HIVE Digital Technologies

Institutional investors have recently modified their holdings of the company. Virtu Financial LLC increased its stake in HIVE Digital Technologies by 527.9% in 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 last quarter. Toronto Dominion Bank grew its holdings in shares of HIVE Digital Technologies by 86,334.5% during the third quarter. Toronto Dominion Bank now owns 50,132 shares of the company’s stock worth $157,000 after purchasing an additional 50,074 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of HIVE Digital Technologies in the 3rd quarter valued at about $463,000. Wellington Management Group LLP acquired a new stake in shares of HIVE Digital Technologies in the 3rd quarter valued at about $120,000. Finally, State Street Corp grew its stake in HIVE Digital Technologies by 2.9% during 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 during the last quarter. 24.42% of the stock is owned by hedge funds and other 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.