StockNews.com Upgrades HIVE Digital Technologies (NASDAQ:HIVE) to “Sell”

StockNews.com upgraded shares of HIVE Digital Technologies (NASDAQ:HIVE) to a sell rating in a report published on Wednesday morning.

A number of other equities research analysts also recently issued reports on the stock. HC Wainwright boosted their price target on shares of HIVE Digital Technologies from $5.00 to $8.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Cantor Fitzgerald restated an “overweight” rating and set a $9.00 price target 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 report 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 report on Thursday, November 14th. Finally, Northland Securities raised their target price on HIVE Digital Technologies from $5.50 to $7.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. One analyst has rated the stock with a sell rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $7.40.

HIVE Digital Technologies Trading Up 10.4 %

Shares of HIVE Digital Technologies stock opened at $4.04 on Wednesday. The stock has a 50 day moving average of $3.69 and a 200 day moving average of $3.30. The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.56 and a current ratio of 5.56. The firm has a market capitalization of $512.39 million, a price-to-earnings ratio of -28.86 and a beta of 3.43. HIVE Digital Technologies has a fifty-two week low of $2.18 and a fifty-two week high of $5.74.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. The business had revenue of $22.65 million during the quarter, compared to analysts’ expectations 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 prior year, the business posted ($0.29) EPS. As a group, research analysts predict that HIVE Digital Technologies will post -0.29 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Lifeworks Advisors LLC acquired a new stake in HIVE Digital Technologies in the 3rd quarter valued at about $35,000. Vanguard Personalized Indexing Management LLC acquired a new stake in HIVE Digital Technologies in the second quarter valued at approximately $36,000. Gladstone Institutional Advisory LLC purchased a new position in HIVE Digital Technologies in the third quarter worth approximately $44,000. Quadrature Capital Ltd acquired a new position in HIVE Digital Technologies during the 3rd quarter worth approximately $50,000. Finally, Wellington Management Group LLP purchased a new stake in shares of HIVE Digital Technologies in the 3rd quarter valued at approximately $120,000. 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.