Keefe, Bruyette & Woods Begins Coverage on HIVE Digital Technologies (NASDAQ:HIVE)

Equities research analysts at Keefe, Bruyette & Woods assumed coverage on shares of HIVE Digital Technologies (NASDAQ:HIVE) in a research note issued on Wednesday, MarketBeat reports. The firm set an “outperform” rating on the stock.

Other equities research analysts have also issued research reports about the stock. Roth Capital raised shares of HIVE Digital Technologies to a “strong-buy” rating in a report on Wednesday, December 18th. Canaccord Genuity Group boosted their target price on shares of HIVE Digital Technologies from $6.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, November 14th. HC Wainwright restated a “buy” rating and set a $8.00 price target on shares of HIVE Digital Technologies in a report on Tuesday, December 3rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $9.00 price objective on shares of HIVE Digital Technologies in a report on Tuesday, November 19th. Finally, Roth Mkm started coverage on HIVE Digital Technologies in a research note on Thursday, December 19th. They set a “buy” rating and a $7.50 target price for the company. One analyst has rated the stock with a sell rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $7.42.

HIVE Digital Technologies Stock Down 0.3 %

Shares of NASDAQ HIVE opened at $3.12 on Wednesday. The company has a current ratio of 5.56, a quick ratio of 5.56 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average of $3.79 and a 200 day moving average of $3.47. HIVE Digital Technologies has a 12-month low of $2.18 and a 12-month high of $5.54. The stock has a market cap of $437.39 million, a PE ratio of -22.28 and a beta of 3.46.

HIVE Digital Technologies (NASDAQ:HIVE) last announced 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 for 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 quarter last year, the business posted ($0.29) earnings per share. As a group, sell-side analysts predict that HIVE Digital Technologies will post -0.33 EPS for the current fiscal year.

Hedge Funds Weigh In On HIVE Digital Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HIVE. State Street Corp increased its position in shares of 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 during the last quarter. XTX Topco Ltd purchased a new stake in HIVE Digital Technologies in the third quarter valued at approximately $463,000. Wellington Management Group LLP acquired a new stake in shares of HIVE Digital Technologies in the third quarter valued at approximately $120,000. Centiva Capital LP acquired a new position in HIVE Digital Technologies in the third quarter valued at $235,000. Finally, Charles Schwab Investment Management Inc. lifted 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 acquiring an additional 106,103 shares during the period. Hedge funds and other 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.