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

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

Other analysts have also issued reports about the company. HC Wainwright raised their price objective on HIVE Digital Technologies from $5.00 to $8.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Northland Securities lifted their price target on shares of HIVE Digital Technologies from $5.50 to $7.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Canaccord Genuity Group boosted their price target on shares of HIVE Digital Technologies from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Northland Capmk raised shares of HIVE Digital Technologies to a “strong-buy” rating in a report on Thursday, September 19th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $9.00 target price on shares of HIVE Digital Technologies in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, HIVE Digital Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.40.

HIVE Digital Technologies Price Performance

NASDAQ:HIVE opened at $4.04 on Wednesday. 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 company has a 50 day moving average price of $3.69 and a 200-day moving average price of $3.30. HIVE Digital Technologies has a 1-year low of $2.18 and a 1-year high of $5.74. The firm has a market cap of $512.39 million, a price-to-earnings ratio of -28.86 and a beta of 3.43.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings data 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. HIVE Digital Technologies had a negative net margin of 12.04% and a negative return on equity of 10.78%. The company had revenue of $22.65 million during the quarter, compared to analysts’ expectations of $25.32 million. During the same quarter in the previous year, the company earned ($0.29) earnings per share. Equities research analysts forecast that HIVE Digital Technologies will post -0.29 EPS for the current year.

Institutional Trading of HIVE Digital Technologies

Several large investors have recently bought and sold shares of HIVE. Lifeworks Advisors LLC purchased a new position in HIVE Digital Technologies in the 3rd quarter worth approximately $35,000. Vanguard Personalized Indexing Management LLC purchased a new position in HIVE Digital Technologies during the second quarter worth approximately $36,000. Gladstone Institutional Advisory LLC acquired a new position in HIVE Digital Technologies during the third quarter worth $44,000. Quadrature Capital Ltd purchased a new stake in HIVE Digital Technologies in the 3rd quarter valued at $50,000. Finally, Wellington Management Group LLP acquired a new stake in shares of HIVE Digital Technologies in the 3rd quarter worth $120,000. Hedge funds and other institutional investors 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.