HIVE Digital Technologies (NASDAQ:HIVE) Rating Increased to Strong-Buy at Northland Capmk

Northland Capmk upgraded shares of HIVE Digital Technologies (NASDAQ:HIVE) to a strong-buy rating in a report released on Thursday morning, Zacks.com reports.

Other analysts also recently issued research reports about the stock. StockNews.com raised shares of HIVE Digital Technologies to a sell rating in a research report on Sunday, June 9th. HC Wainwright raised shares of HIVE Digital Technologies from a neutral rating to a buy rating and increased their price objective for the stock from $4.00 to $5.00 in a research report on Thursday, August 15th. Canaccord Genuity Group restated a buy rating and set a $6.00 target price on shares of HIVE Digital Technologies in a report on Wednesday, August 21st. Northland Securities initiated coverage on HIVE Digital Technologies in a report on Thursday. They issued an outperform rating and a $5.50 price target for the company. Finally, B. Riley initiated coverage on HIVE Digital Technologies in a research note on Friday, July 19th. They set a buy rating and a $6.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $5.70.

HIVE Digital Technologies Stock Performance

NASDAQ:HIVE opened at $3.11 on Thursday. The company has a market cap of $366.10 million, a P/E ratio of -5.27 and a beta of 3.48. The firm’s 50 day moving average is $3.25 and its two-hundred day moving average is $3.04. HIVE Digital Technologies has a fifty-two week low of $2.18 and a fifty-two week high of $5.74. 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 (NASDAQ:HIVE) last issued its earnings results on Monday, August 12th. The company reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08). HIVE Digital Technologies had a negative return on equity of 20.88% and a negative net margin of 25.74%. The business had revenue of $32.24 million for the quarter, compared to analyst estimates of $31.85 million. Analysts expect that HIVE Digital Technologies will post -0.28 EPS for the current year.

Institutional Trading of HIVE Digital Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC bought a new position in shares of HIVE Digital Technologies during the second quarter worth about $36,000. Sloy Dahl & Holst LLC acquired a new position in shares of HIVE Digital Technologies in the 1st quarter worth approximately $41,000. Scotia Capital Inc. bought a new stake in shares of HIVE Digital Technologies in the 4th quarter valued at approximately $64,000. Chesapeake Capital Corp IL acquired a new stake in shares of HIVE Digital Technologies during the 4th quarter valued at approximately $92,000. Finally, Impact Partnership Wealth LLC lifted its stake in HIVE Digital Technologies by 202.4% during 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 last quarter. 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.