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

Cantor Fitzgerald reiterated their overweight rating on shares of HIVE Digital Technologies (NASDAQ:HIVE) in a report issued on Tuesday,Benzinga reports. They currently have a $9.00 price target on the stock.

HIVE has been the topic of a number of other research reports. HC Wainwright upped their price objective on shares of HIVE Digital Technologies from $5.00 to $8.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Northland Securities upped their price objective on shares of HIVE Digital Technologies from $5.50 to $7.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Canaccord Genuity Group upped their price objective 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. Finally, Northland Capmk upgraded shares of HIVE Digital Technologies to a “strong-buy” rating in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, HIVE Digital Technologies has an average rating of “Moderate Buy” and a consensus price target of $7.40.

HIVE Digital Technologies Price Performance

Shares of NASDAQ HIVE opened at $4.09 on Tuesday. HIVE Digital Technologies has a 1 year low of $2.18 and a 1 year high of $5.74. 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’s 50-day moving average is $3.66 and its 200 day moving average is $3.27. The stock has a market capitalization of $518.73 million, a P/E ratio of -29.21 and a beta of 3.43.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.03. The company had revenue of $22.65 million for 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) earnings per share. On average, sell-side analysts expect that HIVE Digital Technologies will post -0.29 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Lifeworks Advisors LLC bought a new position in shares of HIVE Digital Technologies in the third quarter worth approximately $35,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of HIVE Digital Technologies in the second quarter worth approximately $36,000. Gladstone Institutional Advisory LLC bought a new position in HIVE Digital Technologies during the third quarter valued at approximately $44,000. Quadrature Capital Ltd bought a new position in HIVE Digital Technologies during the third quarter valued at approximately $50,000. Finally, Wellington Management Group LLP bought a new position in HIVE Digital Technologies during the third quarter valued at approximately $120,000. Institutional investors own 24.42% of the company’s stock.

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.