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

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

A number of other brokerages also recently issued reports on HIVE. Northland Securities boosted their price objective on HIVE Digital Technologies from $5.50 to $7.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $9.00 price objective on shares of HIVE Digital Technologies in a research note on Tuesday, November 19th. Northland Capmk upgraded HIVE Digital Technologies to a “strong-buy” rating in a research note on Thursday, September 19th. Canaccord Genuity Group boosted their price objective on HIVE Digital Technologies from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, HC Wainwright boosted their price target on HIVE Digital Technologies from $5.00 to $8.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $7.40.

HIVE Digital Technologies Price Performance

NASDAQ HIVE opened at $4.34 on Tuesday. The stock has a 50-day moving average of $3.79 and a 200 day moving average of $3.36. The company has a market capitalization of $567.98 million, a price-to-earnings ratio of -31.00 and a beta of 3.39. HIVE Digital Technologies has a one year low of $2.18 and a one year high of $5.74. 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 released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. The business had revenue of $22.65 million during the quarter, compared to the consensus estimate 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 period in the previous year, the company posted ($0.29) EPS. On average, sell-side analysts forecast that HIVE Digital Technologies will post -0.31 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Lifeworks Advisors LLC purchased a new stake in shares of HIVE Digital Technologies during the 3rd quarter worth approximately $35,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of HIVE Digital Technologies during the 2nd quarter worth approximately $36,000. Gladstone Institutional Advisory LLC purchased a new stake in shares of HIVE Digital Technologies during the 3rd quarter worth approximately $44,000. Quadrature Capital Ltd purchased a new stake in shares of HIVE Digital Technologies during the 3rd quarter worth approximately $50,000. Finally, Impact Partnership Wealth LLC raised its holdings in shares of HIVE Digital Technologies by 202.4% during the 2nd quarter. Impact Partnership Wealth LLC now owns 48,945 shares of the company’s stock worth $151,000 after acquiring an additional 32,760 shares in the last quarter. 24.42% of the stock is owned by hedge funds and other 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.