Roth Capital Upgrades HIVE Digital Technologies (NASDAQ:HIVE) to "Strong-Buy"

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

HIVE has been the topic of several other reports. Northland Securities increased their price target on shares of HIVE Digital Technologies from $5.50 to $7.00 and gave the company an "outperform" rating in a report on Thursday, November 14th. Roth Mkm initiated coverage on HIVE Digital Technologies in a research note on Thursday. They set 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 research report on Thursday, September 19th. StockNews.com raised shares of HIVE Digital Technologies to a "sell" rating in a research report on Tuesday, December 3rd. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $9.00 price objective on shares of HIVE Digital Technologies in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $7.42.

HIVE Digital Technologies Stock Performance

NASDAQ:HIVE traded down $0.01 during mid-day trading on Wednesday, hitting $3.13. The stock had a trading volume of 15,665,684 shares, compared to its average volume of 4,065,211. HIVE Digital Technologies has a twelve month low of $2.18 and a twelve month high of $5.74. 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 stock has a market cap of $421.38 million, a price-to-earnings ratio of -22.36 and a beta of 3.39. The company's 50 day simple moving average is $3.97 and its 200 day simple moving average is $3.46.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.09) by $0.03. The company 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 last year, the firm posted ($0.29) earnings per share. On average, equities research analysts forecast that HIVE Digital Technologies will post -0.33 earnings per share for the current year.

Hedge Funds Weigh In On HIVE Digital Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in HIVE. Lifeworks Advisors LLC bought a new position in HIVE Digital Technologies in the third quarter valued at approximately $35,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of HIVE Digital Technologies in the 2nd quarter valued at $36,000. Gladstone Institutional Advisory LLC acquired a new position in shares of HIVE Digital Technologies during the 3rd quarter worth $44,000. Quadrature Capital Ltd bought a new stake in shares of HIVE Digital Technologies during the 3rd quarter worth $50,000. Finally, Wellington Management Group LLP acquired a new stake in HIVE Digital Technologies in the third quarter valued at about $120,000. 24.42% of the stock is currently 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.