HIVE Digital Technologies (NASDAQ:HIVE) Earns Buy Rating from Analysts at Rosenblatt Securities

Rosenblatt Securities assumed coverage on shares of HIVE Digital Technologies (NASDAQ:HIVE - Free Report) in a research report released on Friday morning, MarketBeat reports. The brokerage issued a buy rating and a $6.00 target price on the stock.

HIVE has been the topic of a number of other research reports. HC Wainwright reissued a "buy" rating and set a $10.00 price target (up previously from $8.00) on shares of HIVE Digital Technologies in a research report on Thursday, February 13th. Roth Capital upgraded HIVE Digital Technologies to a "strong-buy" rating in a research report on Wednesday, December 18th. Roth Mkm initiated coverage on HIVE Digital Technologies in a research note on Thursday, December 19th. They issued a "buy" rating and a $7.50 price target for the company. Canaccord Genuity Group raised their target price on shares of HIVE Digital Technologies from $8.00 to $9.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Finally, Keefe, Bruyette & Woods started coverage on shares of HIVE Digital Technologies in a research report on Wednesday, January 8th. They set an "outperform" rating on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, HIVE Digital Technologies presently has an average rating of "Buy" and an average target price of $7.64.

Remove Ads

HIVE Digital Technologies Stock Performance

Shares of HIVE traded up $0.04 during midday trading on Friday, reaching $1.76. 7,159,690 shares of the stock were exchanged, compared to its average volume of 5,432,418. The company has a quick ratio of 10.41, a current ratio of 10.41 and a debt-to-equity ratio of 0.03. The stock's 50 day simple moving average is $2.75 and its 200 day simple moving average is $3.28. HIVE Digital Technologies has a twelve month low of $1.68 and a twelve month high of $5.54. The company has a market cap of $278.24 million, a P/E ratio of -35.20 and a beta of 3.51.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.05. HIVE Digital Technologies had a negative net margin of 5.45% and a negative return on equity of 8.95%. On average, sell-side analysts expect that HIVE Digital Technologies will post -0.32 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HIVE. Van ECK Associates Corp boosted its stake in shares of HIVE Digital Technologies by 17.9% in the 4th quarter. Van ECK Associates Corp now owns 4,562,489 shares of the company's stock valued at $13,003,000 after purchasing an additional 692,799 shares during the last quarter. Tidal Investments LLC boosted its position in HIVE Digital Technologies by 5.0% during the fourth quarter. Tidal Investments LLC now owns 4,210,339 shares of the company's stock valued at $11,999,000 after acquiring an additional 200,024 shares during the last quarter. State Street Corp grew its holdings 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 acquiring an additional 91,056 shares during the period. Vident Advisory LLC raised its position in shares of HIVE Digital Technologies by 26.1% in the 4th quarter. Vident Advisory LLC now owns 2,831,492 shares of the company's stock worth $8,072,000 after acquiring an additional 585,511 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its position in shares of 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 in the last quarter. 24.42% of the stock is owned by 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.