HIVE Digital Technologies (NASDAQ:HIVE) Upgraded by StockNews.com to Sell Rating

HIVE Digital Technologies (NASDAQ:HIVE) was upgraded by analysts at StockNews.com to a “sell” rating in a note issued to investors on Tuesday.

A number of other analysts also recently weighed in on the stock. Canaccord Genuity Group upped 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. Cantor Fitzgerald reiterated an “overweight” rating and issued a $9.00 price target on shares of HIVE Digital Technologies in a research note on Tuesday, November 19th. Roth Mkm began coverage on HIVE Digital Technologies in a research report on Thursday, December 19th. They set a “buy” rating and a $7.50 price objective for the company. Roth Capital upgraded HIVE Digital Technologies to a “strong-buy” rating in a research report on Wednesday, December 18th. Finally, Keefe, Bruyette & Woods started coverage on shares of HIVE Digital Technologies in a report on Wednesday, January 8th. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, HIVE Digital Technologies currently has an average rating of “Buy” and a consensus price target of $7.42.

HIVE Digital Technologies Stock Down 4.3 %

NASDAQ HIVE opened at $2.91 on Tuesday. 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 market cap of $407.95 million, a price-to-earnings ratio of -20.78 and a beta of 3.46. The company has a 50 day moving average of $3.77 and a 200-day moving average of $3.47. HIVE Digital Technologies has a 1-year low of $2.18 and a 1-year high of $5.54.

HIVE Digital Technologies (NASDAQ:HIVE) last released its earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.03. The company had revenue of $22.65 million for the quarter, compared to analyst estimates 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 firm posted ($0.29) EPS. On average, equities research analysts expect that HIVE Digital Technologies will post -0.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HIVE. Vanguard Personalized Indexing Management LLC bought a new stake in HIVE Digital Technologies during the 2nd quarter worth approximately $36,000. Gladstone Institutional Advisory LLC bought a new stake in shares of HIVE Digital Technologies in the third quarter worth $44,000. Lifeworks Advisors LLC acquired a new stake in HIVE Digital Technologies in the third quarter valued at $35,000. Charles Schwab Investment Management Inc. grew its position in shares of HIVE Digital Technologies by 48.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 325,216 shares of the company’s stock valued at $1,018,000 after buying an additional 106,103 shares during the last quarter. Finally, Centiva Capital LP acquired a new stake in shares of HIVE Digital Technologies in the third quarter valued at about $235,000. Institutional investors and hedge funds 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.