Northland Securities Initiates Coverage on HIVE Digital Technologies (NASDAQ:HIVE)

Stock analysts at Northland Securities began coverage on shares of HIVE Digital Technologies (NASDAQ:HIVE) in a note issued to investors on Thursday, Marketbeat reports. The firm set an “outperform” rating and a $5.50 price target on the stock. Northland Securities’ target price points to a potential upside of 76.85% from the stock’s current price.

A number of other equities research analysts also recently commented on HIVE. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $6.00 target price on shares of HIVE Digital Technologies in a research report on Wednesday, August 21st. 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 objective for the company. StockNews.com raised HIVE Digital Technologies to a “sell” rating in a research report on Sunday, June 9th. Finally, HC Wainwright raised shares of HIVE Digital Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $4.00 to $5.00 in a research report on Thursday, August 15th. One equities 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.70.

HIVE Digital Technologies Price Performance

HIVE stock opened at $3.11 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 7.35 and a current ratio of 7.35. The company has a market capitalization of $366.10 million, a price-to-earnings ratio of -5.27 and a beta of 3.48. The business’s 50 day moving average price is $3.26 and its two-hundred day moving average price is $3.05. HIVE Digital Technologies has a fifty-two week low of $2.18 and a fifty-two week high of $5.74.

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

Institutional Investors Weigh In On HIVE Digital Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HIVE. Chesapeake Capital Corp IL bought a new stake in HIVE Digital Technologies during the fourth quarter valued at about $92,000. Van ECK Associates Corp grew its holdings in HIVE Digital Technologies by 56.0% during the 1st quarter. Van ECK Associates Corp now owns 2,876,374 shares of the company’s stock valued at $9,693,000 after buying an additional 1,032,672 shares in the last quarter. Scotia Capital Inc. bought a new stake in shares of HIVE Digital Technologies during the fourth quarter valued at approximately $64,000. Quadrature Capital Ltd purchased a new position in shares of HIVE Digital Technologies in the fourth quarter worth $458,000. Finally, Impact Partnership Wealth LLC boosted its position in shares of HIVE Digital Technologies by 202.4% during the second 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 last quarter. 24.42% of the stock is owned by hedge funds and other institutional investors.

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.