HIVE Digital Technologies (NASDAQ:HIVE) Upgraded at Roth Capital

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

A number of other brokerages also recently issued reports on HIVE. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $9.00 price target on shares of HIVE Digital Technologies in a report on Tuesday, November 19th. Northland Capmk upgraded shares of HIVE Digital Technologies to a “strong-buy” rating in a report on Thursday, September 19th. HC Wainwright reaffirmed a “buy” rating and set a $8.00 price objective on shares of HIVE Digital Technologies in a report on Tuesday, December 3rd. Roth Mkm began coverage on HIVE Digital Technologies in a report on Thursday. They issued a “buy” rating and a $7.50 target price for the company. Finally, Northland Securities raised their target price on shares of 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 investment analyst has rated the stock with a sell rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $7.42.

HIVE Digital Technologies Stock Performance

NASDAQ HIVE opened at $3.14 on Wednesday. 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 $422.73 million, a P/E ratio of -22.43 and a beta of 3.39. The stock has a 50-day moving average of $3.97 and a two-hundred day moving average of $3.46. HIVE Digital Technologies has a 1-year low of $2.18 and a 1-year high of $5.74.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its quarterly earnings data 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. 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 quarter in the prior year, the company earned ($0.29) earnings per share. As a group, analysts anticipate that HIVE Digital Technologies will post -0.33 EPS for the current year.

Institutional Investors Weigh In On HIVE Digital Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Lifeworks Advisors LLC acquired a new position in HIVE Digital Technologies in the third quarter valued at $35,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of HIVE Digital Technologies in the second quarter valued at about $36,000. Gladstone Institutional Advisory LLC acquired a new position in HIVE Digital Technologies during the 3rd quarter worth approximately $44,000. Quadrature Capital Ltd purchased a new position in HIVE Digital Technologies in the 3rd quarter worth approximately $50,000. Finally, Wellington Management Group LLP purchased a new stake in shares of HIVE Digital Technologies during the third quarter valued at approximately $120,000. 24.42% of the stock is currently owned by hedge funds and other institutional investors.

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.