HIVE Digital Technologies (NASDAQ:HIVE) Stock Price Expected to Rise, Northland Securities Analyst Says

HIVE Digital Technologies (NASDAQ:HIVE) had its price objective hoisted by analysts at Northland Securities from $5.50 to $7.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Northland Securities’ price target would indicate a potential upside of 58.01% from the stock’s current price.

A number of other brokerages have also recently commented on HIVE. HC Wainwright upped their price target on shares of HIVE Digital Technologies from $5.00 to $8.00 and gave the company a “buy” rating in a research note on Thursday. Cantor Fitzgerald assumed coverage on HIVE Digital Technologies in a research report on Tuesday, October 29th. They set an “overweight” rating and a $9.00 target price on the stock. Northland Capmk upgraded HIVE Digital Technologies to a “strong-buy” rating in a research report on Thursday, September 19th. Canaccord Genuity Group increased their price objective on HIVE Digital Technologies from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Thursday. Finally, B. Riley began 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. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, HIVE Digital Technologies has an average rating of “Moderate Buy” and a consensus target price of $7.40.

HIVE Digital Technologies Price Performance

Shares of NASDAQ HIVE opened at $4.43 on Thursday. The firm has a market cap of $561.84 million, a price-to-earnings ratio of -31.64 and a beta of 3.43. The stock has a fifty day simple moving average of $3.54 and a two-hundred day simple moving average of $3.21. The company has a current ratio of 5.56, a quick ratio of 7.35 and a debt-to-equity ratio of 0.06. HIVE Digital Technologies has a 1-year low of $2.18 and a 1-year high of $5.74.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.03. The company had revenue of $22.65 million during the quarter, compared to analyst estimates of $25.32 million. HIVE Digital Technologies had a negative return on equity of 10.78% and a negative net margin of 12.04%. During the same quarter last year, the firm posted ($0.29) EPS. Analysts anticipate that HIVE Digital Technologies will post -0.28 earnings per share for the current year.

Hedge Funds Weigh In On HIVE Digital Technologies

Institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp grew its holdings in shares of 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 purchasing an additional 1,018,231 shares in the last quarter. Impact Partnership Wealth LLC lifted its position 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 valued at $151,000 after purchasing an additional 32,760 shares during the last quarter. Vanguard Personalized Indexing Management LLC purchased a new position in HIVE Digital Technologies in the 2nd quarter worth approximately $36,000. Gladstone Institutional Advisory LLC bought a new position in shares of HIVE Digital Technologies in the 3rd quarter worth $44,000. Finally, State Street Corp raised its position in shares of HIVE Digital Technologies by 2.9% during the 3rd quarter. State Street Corp now owns 3,214,101 shares of the company’s stock valued at $10,060,000 after buying an additional 91,056 shares in the last quarter. 24.42% of the stock is currently 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.