Cantor Fitzgerald Begins Coverage on HIVE Digital Technologies (NASDAQ:HIVE)

Cantor Fitzgerald began coverage on shares of HIVE Digital Technologies (NASDAQ:HIVE - Free Report) in a research note released on Tuesday, Marketbeat reports. The brokerage issued an overweight rating and a $9.00 price target on the stock.

Several other research firms have also recently weighed in on HIVE. Canaccord Genuity Group reiterated a "buy" rating and issued a $6.00 target price on shares of HIVE Digital Technologies in a report on Wednesday, August 21st. B. Riley initiated coverage on HIVE Digital Technologies in a report on Friday, July 19th. They issued a "buy" rating and a $6.00 target price for the company. Northland Capmk upgraded shares of HIVE Digital Technologies to a "strong-buy" rating in a report on Thursday, September 19th. Northland Securities started coverage on shares of HIVE Digital Technologies in a research note on Thursday, September 19th. They issued an "outperform" rating and a $5.50 price objective on the stock. Finally, HC Wainwright upgraded HIVE Digital Technologies from a "neutral" rating to a "buy" rating and boosted their price target for the company from $4.00 to $5.00 in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $6.25.

HIVE Digital Technologies Price Performance

Shares of NASDAQ HIVE traded up $0.17 during mid-day trading on Tuesday, reaching $4.28. The company had a trading volume of 7,993,596 shares, compared to its average volume of 3,397,188. The company has a 50-day moving average price of $3.24 and a two-hundred day moving average price of $3.09. The stock has a market cap of $503.82 million, a PE ratio of -7.25 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 has a 1-year low of $2.18 and a 1-year high of $5.74.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.08) earnings per share for the quarter, hitting 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

Institutional investors have recently made changes to their positions in the business. Vanguard Personalized Indexing Management LLC bought a new stake in HIVE Digital Technologies during the second quarter worth about $36,000. Gladstone Institutional Advisory LLC bought a new stake in shares of HIVE Digital Technologies during the 3rd quarter worth approximately $44,000. Impact Partnership Wealth LLC boosted its position in shares of HIVE Digital Technologies by 202.4% during the 2nd 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 in the last quarter. Vident Advisory LLC increased its stake in HIVE Digital Technologies by 78.6% in the first quarter. Vident Advisory LLC now owns 1,737,308 shares of the company's stock valued at $5,856,000 after acquiring an additional 764,387 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in HIVE Digital Technologies by 56.0% during the first quarter. Van ECK Associates Corp now owns 2,876,374 shares of the company's stock valued at $9,693,000 after purchasing an additional 1,032,672 shares in the last quarter. 24.42% of the stock is owned by institutional investors and hedge funds.

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.