Northland Securities Forecasts Strong Price Appreciation for HIVE Digital Technologies (NASDAQ:HIVE) Stock

HIVE Digital Technologies (NASDAQ:HIVE) had its target price upped by Northland Securities from $5.50 to $7.00 in a report released on Thursday morning,Benzinga reports. Northland Securities currently has an outperform rating on the stock.

Several other analysts have also commented on the stock. HC Wainwright increased 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 report on Thursday. Cantor Fitzgerald initiated coverage on shares of HIVE Digital Technologies in a research report on Tuesday, October 29th. They set an “overweight” rating and a $9.00 target price for the company. Canaccord Genuity Group raised their target price on shares of HIVE Digital Technologies from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Thursday. B. Riley began coverage on HIVE Digital Technologies in a research report on Friday, July 19th. They set a “buy” rating and a $6.00 price target on the stock. Finally, Northland Capmk raised HIVE Digital Technologies to a “strong-buy” rating in a research report on Thursday, September 19th. One analyst has rated the stock with a sell rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, HIVE Digital Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $7.40.

HIVE Digital Technologies Stock Performance

Shares of NASDAQ:HIVE opened at $4.43 on Thursday. The firm has a 50 day moving average of $3.54 and a 200 day moving average of $3.22. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.56 and a quick ratio of 7.35. HIVE Digital Technologies has a 52 week low of $2.18 and a 52 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) EPS for the quarter, topping the consensus estimate 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 firm had revenue of $22.65 million during the quarter, compared to analyst estimates of $25.32 million. During the same period in the previous year, the company posted ($0.29) EPS. Equities research analysts predict that HIVE Digital Technologies will post -0.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Lifeworks Advisors LLC purchased a new stake in shares of HIVE Digital Technologies during the third quarter valued at $35,000. Vanguard Personalized Indexing Management LLC acquired a new stake in HIVE Digital Technologies during the 2nd quarter worth about $36,000. Gladstone Institutional Advisory LLC purchased a new stake in HIVE Digital Technologies during the 3rd quarter valued at about $44,000. Quadrature Capital Ltd purchased a new stake in HIVE Digital Technologies during the 3rd quarter valued at about $50,000. Finally, Impact Partnership Wealth LLC increased its holdings in shares of 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. Hedge funds and other institutional investors 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.