HC Wainwright Reiterates Buy Rating for HIVE Digital Technologies (NASDAQ:HIVE)

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report)'s stock had its "buy" rating reissued by HC Wainwright in a research report issued on Thursday,Benzinga reports. They presently have a $10.00 price objective on the stock, up from their prior price objective of $8.00. HC Wainwright's target price would suggest a potential upside of 250.88% from the stock's current price.

Several other research analysts have also commented on the company. StockNews.com raised HIVE Digital Technologies to a "sell" rating in a research report on Tuesday, January 14th. Cantor Fitzgerald reissued an "overweight" rating and set a $9.00 price target on shares of HIVE Digital Technologies in a research report on Tuesday, November 19th. Northland Securities lifted their price objective on shares of HIVE Digital Technologies from $5.50 to $7.00 and gave the stock an "outperform" rating in a research report on Thursday, November 14th. Canaccord Genuity Group increased their target price on shares of HIVE Digital Technologies from $8.00 to $9.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Finally, Roth Mkm initiated coverage on shares of HIVE Digital Technologies in a report on Thursday, December 19th. They issued a "buy" rating and a $7.50 price target on the stock. One research analyst has rated the stock with a sell rating, seven have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $8.08.

HIVE Digital Technologies Stock Down 0.3 %

HIVE Digital Technologies stock traded down $0.01 during midday trading on Thursday, hitting $2.85. 6,221,402 shares of the company's stock were exchanged, compared to its average volume of 10,176,283. The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.56 and a current ratio of 5.56. The company has a market cap of $422.01 million, a PE ratio of -20.36 and a beta of 3.46. The firm has a 50-day moving average of $3.14 and a two-hundred day moving average of $3.36. HIVE Digital Technologies has a 12 month low of $2.18 and a 12 month high of $5.54.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.11) by $0.05. HIVE Digital Technologies had a negative net margin of 12.04% and a negative return on equity of 10.78%. As a group, analysts expect that HIVE Digital Technologies will post -0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of HIVE. Cubist Systematic Strategies LLC raised its stake in HIVE Digital Technologies by 332.8% in the 4th quarter. Cubist Systematic Strategies LLC now owns 962,677 shares of the company's stock worth $2,744,000 after acquiring an additional 740,247 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of HIVE Digital Technologies in the fourth quarter worth about $2,058,000. Van ECK Associates Corp lifted its holdings in shares of HIVE Digital Technologies by 17.9% during the fourth quarter. Van ECK Associates Corp now owns 4,562,489 shares of the company's stock worth $13,003,000 after purchasing an additional 692,799 shares during the period. Charles Schwab Investment Management Inc. boosted its position in HIVE Digital Technologies by 126.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 736,287 shares of the company's stock valued at $2,098,000 after buying an additional 411,071 shares during the last quarter. Finally, Man Group plc purchased a new stake in HIVE Digital Technologies in the fourth quarter valued at approximately $1,118,000. Institutional investors and hedge funds 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.