HIVE Digital Technologies (NASDAQ:HIVE) Price Target Raised to $7.00 at Northland Securities

HIVE Digital Technologies (NASDAQ:HIVE) had its price target increased by Northland Securities from $5.50 to $7.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Northland Securities’ target price indicates a potential upside of 58.01% from the company’s previous close.

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

HIVE Digital Technologies Stock Up 2.9 %

Shares of NASDAQ HIVE opened at $4.43 on Thursday. The stock has a market capitalization of $561.84 million, a P/E ratio of -31.64 and a beta of 3.43. 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 one year low of $2.18 and a one year high of $5.74. The firm’s 50 day simple moving average is $3.54 and its two-hundred day simple moving average is $3.21.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its earnings results on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. The company had revenue of $22.65 million for the quarter, compared to analysts’ expectations of $25.32 million. HIVE Digital Technologies had a negative net margin of 12.04% and a negative return on equity of 10.78%. During the same quarter last year, the company earned ($0.29) EPS. As a group, analysts expect that HIVE Digital Technologies will post -0.28 EPS for the current fiscal year.

Institutional Trading of HIVE Digital Technologies

Several large investors have recently added to or reduced their stakes in HIVE. Lifeworks Advisors LLC purchased a new stake in shares of HIVE Digital Technologies in the 3rd quarter worth about $35,000. Vanguard Personalized Indexing Management LLC bought a new position in HIVE Digital Technologies in the second quarter worth about $36,000. Gladstone Institutional Advisory LLC purchased a new stake in HIVE Digital Technologies in the third quarter worth about $44,000. Quadrature Capital Ltd bought a new stake in HIVE Digital Technologies during the 3rd quarter valued at approximately $50,000. Finally, Impact Partnership Wealth LLC grew its holdings in shares of HIVE Digital Technologies by 202.4% during the 2nd quarter. Impact Partnership Wealth LLC now owns 48,945 shares of the company’s stock worth $151,000 after acquiring an additional 32,760 shares during the period. Institutional investors 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.