HIVE Digital Technologies (NASDAQ:HIVE) Raised to “Strong-Buy” at Roth Capital

Roth Capital upgraded shares of HIVE Digital Technologies (NASDAQ:HIVE) to a strong-buy rating in a research note published on Wednesday morning,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. Canaccord Genuity Group increased their price target on shares of HIVE Digital Technologies from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Roth Mkm began coverage on shares of HIVE Digital Technologies in a research note on Thursday. They issued a “buy” rating and a $7.50 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $9.00 target price on shares of HIVE Digital Technologies in a report on Tuesday, November 19th. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price target on shares of HIVE Digital Technologies in a report on Tuesday, December 3rd. Finally, Northland Securities increased their price target on HIVE Digital Technologies from $5.50 to $7.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $7.42.

HIVE Digital Technologies Price Performance

NASDAQ HIVE opened at $3.13 on Wednesday. The stock’s fifty day moving average price is $3.97 and its 200 day moving average price is $3.46. HIVE Digital Technologies has a 1 year low of $2.18 and a 1 year high of $5.74. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.56 and a quick ratio of 5.56. The company has a market cap of $421.38 million, a price-to-earnings ratio of -22.36 and a beta of 3.39.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. HIVE Digital Technologies had a negative return on equity of 10.78% and a negative net margin of 12.04%. The business had revenue of $22.65 million for the quarter, compared to analyst estimates of $25.32 million. During the same period in the prior year, the company earned ($0.29) earnings per share. As a group, equities research analysts forecast that HIVE Digital Technologies will post -0.33 earnings per share for the current year.

Institutional Trading of HIVE Digital Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HIVE. Lifeworks Advisors LLC purchased a new stake in shares of HIVE Digital Technologies during the 3rd quarter worth about $35,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of HIVE Digital Technologies in the 2nd quarter valued at about $36,000. Gladstone Institutional Advisory LLC acquired a new position in HIVE Digital Technologies in the 3rd quarter worth about $44,000. Quadrature Capital Ltd purchased a new position in HIVE Digital Technologies during the third quarter worth approximately $50,000. Finally, Impact Partnership Wealth LLC grew 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 purchasing an additional 32,760 shares during the period. 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.