HIVE Digital Technologies (NASDAQ:HIVE) Earns Buy Rating from Analysts at Rosenblatt Securities

Rosenblatt Securities assumed coverage on shares of HIVE Digital Technologies (NASDAQ:HIVE) in a report published on Friday, MarketBeat Ratings reports. The firm issued a buy rating and a $6.00 target price on the stock.

A number of other equities analysts also recently commented on the company. Roth Mkm initiated coverage on HIVE Digital Technologies in a research note on Thursday, December 19th. They issued a “buy” rating and a $7.50 price target for the company. Roth Capital upgraded HIVE Digital Technologies to a “strong-buy” rating in a research note on Wednesday, December 18th. Northland Securities lifted their price target on HIVE Digital Technologies from $5.50 to $7.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Keefe, Bruyette & Woods initiated coverage on HIVE Digital Technologies in a research note on Wednesday, January 8th. They issued an “outperform” rating for the company. Finally, Canaccord Genuity Group lifted their price target on HIVE Digital Technologies from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, HIVE Digital Technologies has a consensus rating of “Buy” and an average target price of $7.79.

HIVE Digital Technologies Stock Up 5.8 %

Shares of HIVE Digital Technologies stock opened at $2.00 on Friday. The business has a 50-day moving average of $2.77 and a 200-day moving average of $3.29. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.41 and a quick ratio of 10.41. The company has a market capitalization of $313.22 million, a PE ratio of -40.00 and a beta of 3.51. HIVE Digital Technologies has a 1-year low of $1.78 and a 1-year high of $5.54.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.05. HIVE Digital Technologies had a negative return on equity of 8.95% and a negative net margin of 5.45%. As a group, equities analysts forecast that HIVE Digital Technologies will post -0.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. State Street Corp increased its stake in shares of HIVE Digital Technologies by 2.9% during the third quarter. State Street Corp now owns 3,214,101 shares of the company’s stock valued at $10,060,000 after acquiring an additional 91,056 shares during the period. Van ECK Associates Corp grew its position in HIVE Digital Technologies by 17.9% in the fourth quarter. Van ECK Associates Corp now owns 4,562,489 shares of the company’s stock worth $13,003,000 after buying an additional 692,799 shares during the last quarter. XTX Topco Ltd acquired a new position in HIVE Digital Technologies in the third quarter worth approximately $463,000. Wellington Management Group LLP acquired a new position in HIVE Digital Technologies in the third quarter worth approximately $120,000. Finally, Centiva Capital LP acquired a new position in HIVE Digital Technologies in the third quarter worth approximately $235,000. Institutional investors and hedge funds 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.