HIVE Digital Technologies (NASDAQ:HIVE) Upgraded to “Strong-Buy” by Northland Capmk

Northland Capmk upgraded shares of HIVE Digital Technologies (NASDAQ:HIVE) to a strong-buy rating in a research note issued to investors on Thursday, Zacks.com reports.

A number of other research analysts have also issued reports on the stock. Northland Securities assumed coverage on shares of HIVE Digital Technologies in a research note on Thursday. They set an outperform rating and a $5.50 target price for the company. Canaccord Genuity Group reiterated a buy rating and set a $6.00 price objective on shares of HIVE Digital Technologies in a research report on Wednesday, August 21st. HC Wainwright upgraded HIVE Digital Technologies from a neutral rating to a buy rating and raised their target price for the company from $4.00 to $5.00 in a research report on Thursday, August 15th. StockNews.com upgraded HIVE Digital Technologies to a sell rating in a research report on Sunday, June 9th. Finally, B. Riley assumed coverage on HIVE Digital Technologies in a report on Friday, July 19th. They set a buy rating and a $6.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $5.70.

HIVE Digital Technologies Price Performance

Shares of HIVE Digital Technologies stock opened at $3.11 on Thursday. The stock has a market capitalization of $366.10 million, a price-to-earnings ratio of -5.27 and a beta of 3.48. HIVE Digital Technologies has a twelve month low of $2.18 and a twelve month high of $5.74. The company has a current ratio of 7.35, a quick ratio of 7.35 and a debt-to-equity ratio of 0.06. The business’s 50 day simple moving average is $3.25 and its 200-day simple moving average is $3.04.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.08) EPS for the quarter, hitting analysts’ consensus estimates of ($0.08). The firm had revenue of $32.24 million during the quarter, compared to the consensus estimate of $31.85 million. HIVE Digital Technologies had a negative return on equity of 20.88% and a negative net margin of 25.74%. Equities research analysts forecast that HIVE Digital Technologies will post -0.28 earnings per share for the current year.

Institutional Investors Weigh In On HIVE Digital Technologies

A number of large investors have recently made changes to their positions in HIVE. Van ECK Associates Corp lifted its stake in HIVE Digital Technologies by 35.4% in the 2nd quarter. Van ECK Associates Corp now owns 3,894,605 shares of the company’s stock worth $11,995,000 after acquiring an additional 1,018,231 shares in the last quarter. MMCAP International Inc. SPC acquired a new position in shares of HIVE Digital Technologies in the 1st quarter valued at about $11,227,000. Vident Advisory LLC lifted its position in shares of HIVE Digital Technologies by 78.6% in the first quarter. Vident Advisory LLC now owns 1,737,308 shares of the company’s stock worth $5,856,000 after purchasing an additional 764,387 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of HIVE Digital Technologies during the fourth quarter worth approximately $458,000. Finally, Impact Partnership Wealth LLC grew its position in HIVE Digital Technologies by 202.4% during 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 in the last quarter. 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.