HIVE Digital Technologies (NASDAQ:HIVE) Raised to Strong-Buy at Northland Capmk

Northland Capmk upgraded shares of HIVE Digital Technologies (NASDAQ:HIVE) to a strong-buy rating in a research note published on Thursday morning, Zacks.com reports.

Several other analysts have also recently issued reports on the company. HC Wainwright raised HIVE Digital Technologies from a neutral rating to a buy rating and raised their target price for the stock from $4.00 to $5.00 in a research note on Thursday, August 15th. StockNews.com upgraded shares of HIVE Digital Technologies to a sell rating in a report on Sunday, June 9th. B. Riley assumed coverage on shares of HIVE Digital Technologies in a report on Friday, July 19th. They issued a buy rating and a $6.00 price objective for the company. Northland Securities assumed coverage on shares of HIVE Digital Technologies in a report on Thursday. They issued an outperform rating and a $5.50 price objective for the company. Finally, Canaccord Genuity Group reiterated a buy rating and set a $6.00 target price on shares of HIVE Digital Technologies in a report on Wednesday, August 21st. One 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $5.70.

HIVE Digital Technologies Price Performance

Shares of NASDAQ:HIVE opened at $3.11 on Thursday. The stock’s 50-day moving average price is $3.25 and its 200-day moving average price is $3.05. HIVE Digital Technologies has a 12-month low of $2.18 and a 12-month high of $5.74. The stock has a market capitalization of $366.10 million, a P/E ratio of -5.27 and a beta of 3.48. The company has a current ratio of 7.35, a quick ratio of 7.35 and a debt-to-equity ratio of 0.06.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HIVE. Chesapeake Capital Corp IL bought a new position in shares of HIVE Digital Technologies during the 4th quarter valued at about $92,000. Van ECK Associates Corp lifted its holdings in shares of 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 acquiring an additional 1,032,672 shares during the last quarter. Scotia Capital Inc. bought a new position in shares of HIVE Digital Technologies in the 4th quarter valued at about $64,000. Quadrature Capital Ltd bought a new position in shares of HIVE Digital Technologies in the 4th quarter valued at about $458,000. Finally, Impact Partnership Wealth LLC lifted its holdings in shares of HIVE Digital Technologies by 202.4% in the 2nd quarter. Impact Partnership Wealth LLC now owns 48,945 shares of the company’s stock valued at $151,000 after acquiring an additional 32,760 shares during the last quarter. Hedge funds and other 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.