HIVE Digital Technologies (NASDAQ:HIVE) Stock Rating Upgraded by StockNews.com

HIVE Digital Technologies (NASDAQ:HIVE) was upgraded by StockNews.com to a “sell” rating in a note issued to investors on Tuesday.

HIVE has been the subject of several other reports. Northland Capmk raised HIVE Digital Technologies to a “strong-buy” rating in a report on Thursday, September 19th. Roth Capital raised shares of HIVE Digital Technologies to a “strong-buy” rating in a research report on Wednesday, December 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $9.00 target price on shares of HIVE Digital Technologies in a report on Tuesday, November 19th. Northland Securities boosted their target price 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. Finally, HC Wainwright reiterated a “buy” rating and set a $8.00 price target on shares of HIVE Digital Technologies in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $7.42.

HIVE Digital Technologies Stock Up 7.5 %

HIVE opened at $3.14 on Tuesday. The stock has a fifty day moving average of $3.75 and a 200-day moving average of $3.47. The company has a market capitalization of $444.13 million, a P/E ratio of -22.43 and a beta of 3.46. HIVE Digital Technologies has a fifty-two week low of $2.18 and a fifty-two week high of $5.54. 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 issued 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 business had revenue of $22.65 million during the quarter, compared to analysts’ expectations 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 in the previous year, the company earned ($0.29) EPS. On average, equities analysts expect that HIVE Digital Technologies will post -0.33 EPS for the current year.

Hedge Funds Weigh In On HIVE Digital Technologies

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

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.