HIVE Digital Technologies (NASDAQ:HIVE) Coverage Initiated at Cantor Fitzgerald

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

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

HIVE Digital Technologies Trading Down 4.1 %

Shares of HIVE stock opened at $3.54 on Tuesday. The firm has a 50-day moving average price of $3.27 and a 200 day moving average price of $3.10. HIVE Digital Technologies has a twelve month low of $2.18 and a twelve month high of $5.74. The company has a market capitalization of $427.17 million, a price-to-earnings ratio of -9.57 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 (NASDAQ:HIVE) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.08) EPS for the quarter, meeting the consensus estimate of ($0.08). The company had revenue of $32.24 million during the quarter, compared to analysts’ expectations of $31.85 million. HIVE Digital Technologies had a negative return on equity of 20.88% and a negative net margin of 25.74%. Research analysts forecast that HIVE Digital Technologies will post -0.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On HIVE Digital Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp raised its position in shares of HIVE Digital Technologies by 35.4% during the 2nd 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. MMCAP International Inc. SPC bought a new position in HIVE Digital Technologies during the 1st quarter worth $11,227,000. Vident Advisory LLC grew 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 buying an additional 764,387 shares during the last quarter. Impact Partnership Wealth LLC grew its stake in 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 buying an additional 32,760 shares during the last quarter. Finally, Gladstone Institutional Advisory LLC bought a new position in HIVE Digital Technologies during the 3rd quarter worth $44,000. 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.