HIVE Digital Technologies (NASDAQ:HIVE) Raised to Sell at StockNews.com

HIVE Digital Technologies (NASDAQ:HIVE) was upgraded by equities research analysts at StockNews.com to a “sell” rating in a report issued on Wednesday.

HIVE has been the topic of several other reports. Northland Securities increased their price objective on shares of HIVE Digital Technologies from $5.50 to $7.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Cantor Fitzgerald reissued an “overweight” rating and issued a $9.00 price objective on shares of HIVE Digital Technologies in a research report on Tuesday, November 19th. Northland Capmk raised shares of HIVE Digital Technologies to a “strong-buy” rating in a research report on Thursday, September 19th. Canaccord Genuity Group increased their price objective on shares of HIVE Digital Technologies from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, HC Wainwright increased their price objective on shares of HIVE Digital Technologies from $5.00 to $8.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, HIVE Digital Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $7.40.

HIVE Digital Technologies Stock Performance

NASDAQ HIVE traded up $0.38 on Wednesday, hitting $4.04. 7,606,651 shares of the stock were exchanged, compared to its average volume of 3,667,332. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.56 and a quick ratio of 5.56. The business’s fifty day moving average is $3.69 and its 200 day moving average is $3.30. HIVE Digital Technologies has a 52 week low of $2.18 and a 52 week high of $5.74. The company has a market capitalization of $512.39 million, a PE ratio of -28.86 and a beta of 3.43.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.03. HIVE Digital Technologies had a negative net margin of 12.04% and a negative return on equity of 10.78%. The firm had revenue of $22.65 million for the quarter, compared to analyst estimates of $25.32 million. During the same period in the prior year, the firm posted ($0.29) earnings per share. Research analysts anticipate that HIVE Digital Technologies will post -0.29 EPS for the current fiscal year.

Hedge Funds Weigh In On HIVE Digital Technologies

A number of hedge funds have recently bought and sold shares of HIVE. Van ECK Associates Corp increased its position in HIVE Digital Technologies by 35.4% during the second quarter. Van ECK Associates Corp now owns 3,894,605 shares of the company’s stock worth $11,995,000 after acquiring an additional 1,018,231 shares during the period. XTX Topco Ltd acquired a new stake in HIVE Digital Technologies during the third quarter worth about $463,000. Charles Schwab Investment Management Inc. grew its stake in HIVE Digital Technologies by 48.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 325,216 shares of the company’s stock worth $1,018,000 after buying an additional 106,103 shares in the last quarter. State Street Corp grew its stake in 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 buying an additional 91,056 shares in the last quarter. Finally, Centiva Capital LP acquired a new stake in HIVE Digital Technologies during the third quarter worth about $235,000. 24.42% of the stock is owned by 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.