HIVE Digital Technologies’ (HIVE) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of HIVE Digital Technologies (NASDAQ:HIVE) in a research note released on Tuesday morning,Benzinga reports. The firm currently has a $9.00 price objective on the stock.

Several other equities analysts also recently issued reports on the stock. Canaccord Genuity Group upped 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 note on Thursday, November 14th. Northland Securities boosted their price target on HIVE Digital Technologies from $5.50 to $7.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Northland Capmk upgraded HIVE Digital Technologies to a “strong-buy” rating in a report on Thursday, September 19th. Finally, HC Wainwright upped their target price on HIVE Digital Technologies from $5.00 to $8.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $7.40.

HIVE Digital Technologies Price Performance

HIVE stock opened at $4.01 on Tuesday. The stock’s 50 day moving average price is $3.64 and its 200 day moving average price is $3.26. The firm has a market cap of $507.95 million, a P/E ratio of -28.61 and a beta of 3.43. 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 has a 1 year low of $2.18 and a 1 year high of $5.74.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. The firm had revenue of $22.65 million during the quarter, compared to analysts’ expectations 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 business posted ($0.29) EPS. On average, sell-side analysts expect that HIVE Digital Technologies will post -0.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted 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 valued at $11,995,000 after buying an additional 1,018,231 shares in the last quarter. Vident Advisory LLC raised its stake in shares of HIVE Digital Technologies by 78.6% in the 1st quarter. Vident Advisory LLC now owns 1,737,308 shares of the company’s stock valued at $5,856,000 after acquiring an additional 764,387 shares during the period. XTX Topco Ltd acquired a new position in shares of HIVE Digital Technologies during the 3rd quarter valued at $463,000. Charles Schwab Investment Management Inc. boosted its position in HIVE Digital Technologies by 48.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 325,216 shares of the company’s stock worth $1,018,000 after purchasing an additional 106,103 shares during the period. Finally, State Street Corp increased its holdings in HIVE Digital Technologies by 2.9% in the 3rd quarter. State Street Corp now owns 3,214,101 shares of the company’s stock valued at $10,060,000 after purchasing an additional 91,056 shares in the last quarter. Institutional investors and hedge funds own 24.42% of the company’s stock.

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.