Cantor Fitzgerald Cuts HIVE Digital Technologies (NASDAQ:HIVE) Price Target to $8.00

HIVE Digital Technologies (NASDAQ:HIVE) had its target price trimmed by Cantor Fitzgerald from $10.00 to $8.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research firms have also recently weighed in on HIVE. Rosenblatt Securities assumed coverage on shares of HIVE Digital Technologies in a research report on Friday, March 7th. They issued a “buy” rating and a $6.00 price objective on the stock. Northland Securities upped 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. HC Wainwright restated a “buy” rating and issued a $10.00 price objective (up from $8.00) on shares of HIVE Digital Technologies in a research report on Thursday, February 13th. Keefe, Bruyette & Woods assumed coverage on shares of HIVE Digital Technologies in a research report on Wednesday, January 8th. They issued an “outperform” rating on the stock. Finally, Canaccord Genuity Group upped their price objective on shares of HIVE Digital Technologies from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $7.64.

HIVE Digital Technologies Trading Up 2.0 %

Shares of HIVE opened at $1.76 on Tuesday. The business’s 50-day moving average price is $2.73 and its 200-day moving average price is $3.26. HIVE Digital Technologies has a twelve month low of $1.67 and a twelve month high of $5.54. The stock has a market cap of $278.24 million, a PE ratio of -35.20 and a beta of 3.51. The company has a quick ratio of 10.41, a current ratio of 10.41 and a debt-to-equity ratio of 0.03.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.05. HIVE Digital Technologies had a negative return on equity of 8.95% and a negative net margin of 5.45%. On average, equities analysts forecast that HIVE Digital Technologies will post -0.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. State Street Corp raised its stake in shares of HIVE Digital Technologies by 2.9% during the third quarter. State Street Corp now owns 3,214,101 shares of the company’s stock worth $10,060,000 after acquiring an additional 91,056 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of HIVE Digital Technologies by 17.9% in the fourth quarter. Van ECK Associates Corp now owns 4,562,489 shares of the company’s stock worth $13,003,000 after purchasing an additional 692,799 shares during the last quarter. XTX Topco Ltd bought a new position in shares of HIVE Digital Technologies in the third quarter worth approximately $463,000. Wellington Management Group LLP bought a new position in shares of HIVE Digital Technologies in the third quarter worth approximately $120,000. Finally, Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of HIVE Digital Technologies in the fourth quarter worth approximately $2,058,000. 24.42% of the stock is owned by hedge funds and other institutional investors.

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.