HIVE Digital Technologies (NASDAQ:HIVE) Stock Rating Upgraded by Northland Capmk

HIVE Digital Technologies (NASDAQ:HIVE) was upgraded by stock analysts at Northland Capmk to a “strong-buy” rating in a research note issued on Thursday, Zacks.com reports.

Several other analysts have also commented on the stock. StockNews.com upgraded shares of HIVE Digital Technologies to a “sell” rating in a report on Sunday, June 9th. B. Riley initiated coverage on shares of HIVE Digital Technologies in a report on Friday, July 19th. They issued a “buy” rating and a $6.00 price objective for the company. Canaccord Genuity Group restated a “buy” rating and issued a $6.00 price objective on shares of HIVE Digital Technologies in a report on Wednesday, August 21st. Northland Securities initiated coverage on shares of HIVE Digital Technologies in a report on Thursday. They issued an “outperform” rating and a $5.50 price objective for the company. Finally, HC Wainwright upgraded shares of HIVE Digital Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $4.00 to $5.00 in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, HIVE Digital Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.70.

HIVE Digital Technologies Stock Performance

NASDAQ HIVE opened at $3.11 on Thursday. The company has a 50-day simple moving average of $3.26 and a two-hundred day simple moving average of $3.05. The company has a quick ratio of 7.35, a current ratio of 7.35 and a debt-to-equity ratio of 0.06. HIVE Digital Technologies has a 12-month low of $2.18 and a 12-month high of $5.74. The firm has a market cap of $366.10 million, a price-to-earnings ratio of -5.27 and a beta of 3.48.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its earnings results on Monday, August 12th. The company reported ($0.08) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.08). The company had revenue of $32.24 million during the quarter, compared to analyst estimates of $31.85 million. HIVE Digital Technologies had a negative net margin of 25.74% and a negative return on equity of 20.88%. On average, equities analysts forecast that HIVE Digital Technologies will post -0.28 EPS for the current year.

Institutional Investors Weigh In On HIVE Digital Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in HIVE. MMCAP International Inc. SPC bought a new position in HIVE Digital Technologies in the 1st quarter worth $11,227,000. Van ECK Associates Corp grew its stake in shares of HIVE Digital Technologies by 56.0% during the 1st quarter. Van ECK Associates Corp now owns 2,876,374 shares of the company’s stock valued at $9,693,000 after acquiring an additional 1,032,672 shares during the period. Vident Advisory LLC raised its stake in HIVE Digital Technologies by 78.6% during the 1st quarter. Vident Advisory LLC now owns 1,737,308 shares of the company’s stock worth $5,856,000 after acquiring an additional 764,387 shares during the period. Quadrature Capital Ltd purchased a new position in HIVE Digital Technologies during the fourth quarter valued at approximately $458,000. Finally, Impact Partnership Wealth LLC boosted its position in shares of HIVE Digital Technologies by 202.4% in the second quarter. Impact Partnership Wealth LLC now owns 48,945 shares of the company’s stock worth $151,000 after purchasing an additional 32,760 shares during the period. Hedge funds and other institutional investors own 24.42% of the company’s stock.

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.