HIVE Digital Technologies (NASDAQ:HIVE) Coverage Initiated at Cantor Fitzgerald

Investment analysts at Cantor Fitzgerald assumed coverage on shares of HIVE Digital Technologies (NASDAQ:HIVE) in a research report issued on Tuesday, Marketbeat Ratings reports. The brokerage set an “overweight” rating and a $9.00 price target on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 110.77% from the company’s previous close.

A number of other equities analysts have also issued reports on HIVE. HC Wainwright upgraded shares of HIVE Digital Technologies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $4.00 to $5.00 in a research report on Thursday, August 15th. Northland Securities began coverage on shares of HIVE Digital Technologies in a research report on Thursday, September 19th. They set an “outperform” rating and a $5.50 target price on the stock. Canaccord Genuity Group restated a “buy” rating and set a $6.00 target price on shares of HIVE Digital Technologies in a research report on Wednesday, August 21st. Northland Capmk upgraded shares of HIVE Digital Technologies to a “strong-buy” rating in a research report on Thursday, September 19th. Finally, B. Riley began coverage on shares of HIVE Digital Technologies in a research report on Friday, July 19th. They set a “buy” rating and a $6.00 target price on the stock. One analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, HIVE Digital Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $6.25.

HIVE Digital Technologies Stock Performance

Shares of HIVE Digital Technologies stock opened at $4.27 on Tuesday. The firm has a market capitalization of $515.25 million, a P/E ratio of -11.54 and a beta of 3.48. HIVE Digital Technologies has a 52 week low of $2.18 and a 52 week high of $5.74. The company has a quick ratio of 7.35, a current ratio of 7.35 and a debt-to-equity ratio of 0.06. The firm’s 50 day moving average is $3.26 and its two-hundred day moving average is $3.09.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.08) EPS for the quarter, meeting the consensus estimate of ($0.08). The company had revenue of $32.24 million for the quarter, compared to analyst estimates of $31.85 million. HIVE Digital Technologies had a negative net margin of 25.74% and a negative return on equity of 20.88%. Research analysts forecast that HIVE Digital Technologies will post -0.28 EPS for the current fiscal year.

Institutional Investors Weigh In On HIVE Digital Technologies

Several hedge funds have recently modified their holdings of HIVE. MMCAP International Inc. SPC acquired a new stake in shares of HIVE Digital Technologies during the first quarter worth $11,227,000. Van ECK Associates Corp lifted its holdings in shares of HIVE Digital Technologies by 56.0% during the first quarter. Van ECK Associates Corp now owns 2,876,374 shares of the company’s stock worth $9,693,000 after purchasing an additional 1,032,672 shares during the period. Vident Advisory LLC lifted its holdings in HIVE Digital Technologies by 78.6% in the first quarter. Vident Advisory LLC now owns 1,737,308 shares of the company’s stock valued at $5,856,000 after acquiring an additional 764,387 shares during the period. Impact Partnership Wealth LLC lifted its holdings in HIVE Digital Technologies by 202.4% in the second quarter. Impact Partnership Wealth LLC now owns 48,945 shares of the company’s stock valued at $151,000 after acquiring an additional 32,760 shares during the period. Finally, Gladstone Institutional Advisory LLC acquired a new stake in HIVE Digital Technologies in the third quarter valued at $44,000. 24.42% of the stock is owned by institutional investors and hedge funds.

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.