HIVE Digital Technologies' (HIVE) "Overweight" Rating Reiterated at Cantor Fitzgerald

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report)'s stock had its "overweight" rating reissued by analysts at Cantor Fitzgerald in a note issued to investors on Tuesday,Benzinga reports. They presently have a $9.00 price target on the stock. Cantor Fitzgerald's target price points to a potential upside of 109.79% from the stock's previous close.

A number of other research analysts have also recently weighed in on the company. 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 report on Thursday, November 14th. Northland Capmk upgraded HIVE Digital Technologies to a "strong-buy" rating in a report on Thursday, September 19th. HC Wainwright lifted their target price on HIVE Digital Technologies from $5.00 to $8.00 and gave the company a "buy" rating in a report on Thursday, November 14th. Finally, Northland Securities increased 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. One investment analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, HIVE Digital Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $7.40.

HIVE Digital Technologies Trading Down 0.7 %

Shares of NASDAQ HIVE traded down $0.03 on Tuesday, reaching $4.29. 6,553,925 shares of the company traded hands, compared to its average volume of 3,586,463. HIVE Digital Technologies has a fifty-two week low of $2.18 and a fifty-two week high of $5.74. The company has a 50 day moving average of $3.60 and a 200 day moving average of $3.25. The company has a current ratio of 5.56, a quick ratio of 5.56 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $544.10 million, a PE ratio of -30.64 and a beta of 3.43.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) 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. 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 the consensus estimate of $25.32 million. During the same quarter in the prior year, the company posted ($0.29) EPS. On average, equities research analysts forecast that HIVE Digital Technologies will post -0.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On HIVE Digital Technologies

Large investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its stake in shares of HIVE Digital Technologies by 35.4% during the second quarter. Van ECK Associates Corp now owns 3,894,605 shares of the company's stock valued at $11,995,000 after acquiring an additional 1,018,231 shares in the last quarter. Impact Partnership Wealth LLC increased its position in shares of 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 stake in shares of HIVE Digital Technologies during the second quarter worth about $36,000. Gladstone Institutional Advisory LLC purchased a new stake in shares of HIVE Digital Technologies during the third quarter worth about $44,000. Finally, Lifeworks Advisors LLC purchased a new stake in shares of HIVE Digital Technologies during the third quarter worth about $35,000. 24.42% of the stock is owned by institutional investors and hedge funds.

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.