StockNews.com Upgrades HIVE Digital Technologies (NASDAQ:HIVE) to “Sell”

StockNews.com upgraded shares of HIVE Digital Technologies (NASDAQ:HIVE) to a sell rating in a report issued on Tuesday.

Other equities research analysts have also issued reports about the company. Roth Capital upgraded HIVE Digital Technologies to a “strong-buy” rating in a research note on Wednesday, December 18th. Canaccord Genuity Group increased their target price on shares of HIVE Digital Technologies from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $9.00 price target on shares of HIVE Digital Technologies in a research report on Tuesday, November 19th. Northland Securities boosted 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 note on Thursday, November 14th. Finally, HC Wainwright reissued a “buy” rating and issued a $8.00 target price on shares of HIVE Digital Technologies in a research note on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, HIVE Digital Technologies has a consensus rating of “Buy” and a consensus target price of $7.42.

HIVE Digital Technologies Price Performance

HIVE opened at $2.92 on Tuesday. HIVE Digital Technologies has a 1 year low of $2.18 and a 1 year high of $5.54. The company’s 50 day simple moving average is $3.75 and its 200 day simple moving average is $3.47. The stock has a market capitalization of $413.01 million, a PE ratio of -20.86 and a beta of 3.46. The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.56 and a current ratio of 5.56.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. The company had revenue of $22.65 million for the quarter, compared to analyst estimates of $25.32 million. HIVE Digital Technologies had a negative net margin of 12.04% and a negative return on equity of 10.78%. During the same quarter last year, the business earned ($0.29) EPS. As a group, sell-side analysts expect that HIVE Digital Technologies will post -0.33 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Lifeworks Advisors LLC acquired a new stake in HIVE Digital Technologies during the 3rd quarter valued at $35,000. Vanguard Personalized Indexing Management LLC acquired a new position in HIVE Digital Technologies in the 2nd quarter worth $36,000. Gladstone Institutional Advisory LLC purchased a new position in HIVE Digital Technologies in the 3rd quarter valued at about $44,000. Quadrature Capital Ltd acquired a new stake in shares of HIVE Digital Technologies during the third quarter valued at about $50,000. Finally, Wellington Management Group LLP purchased a new stake in shares of HIVE Digital Technologies during the third quarter worth about $120,000. 24.42% of the stock is owned by institutional investors and hedge funds.

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.