Keefe, Bruyette & Woods Reiterates Market Perform Rating for HIVE Digital Technologies (NASDAQ:HIVE)

HIVE Digital Technologies (NASDAQ:HIVE)‘s stock had its “market perform” rating reissued by stock analysts at Keefe, Bruyette & Woods in a research report issued on Tuesday, Marketbeat.com reports. They currently have a $3.50 price target on the stock, down from their prior price target of $11.00. Keefe, Bruyette & Woods’ price target suggests a potential upside of 18.64% from the stock’s previous close.

Other analysts have also recently issued reports about the company. HC Wainwright upped their price target on HIVE Digital Technologies from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th. Canaccord Genuity Group restated a “buy” rating and issued a $10.00 target price on shares of HIVE Digital Technologies in a research note on Friday, November 21st. Weiss Ratings reiterated a “sell (d+)” rating on shares of HIVE Digital Technologies in a research report on Friday, October 31st. Rosenblatt Securities reissued a “buy” rating and set a $10.00 price target on shares of HIVE Digital Technologies in a report on Tuesday, November 18th. Finally, Wall Street Zen cut shares of HIVE Digital Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $7.63.

HIVE Digital Technologies Trading Down 3.0%

Shares of HIVE stock opened at $2.95 on Tuesday. The firm has a fifty day moving average of $3.05 and a 200-day moving average of $3.47. The stock has a market cap of $733.96 million, a price-to-earnings ratio of -14.05 and a beta of 3.58. HIVE Digital Technologies has a 52-week low of $1.26 and a 52-week high of $7.84. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.55 and a current ratio of 2.55.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its earnings results on Friday, November 14th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). HIVE Digital Technologies had a negative net margin of 16.18% and a negative return on equity of 14.15%. The business had revenue of $83.37 million during the quarter, compared to the consensus estimate of $80.62 million. On average, equities research analysts forecast that HIVE Digital Technologies will post -0.32 earnings per share for the current fiscal year.

Institutional Trading of HIVE Digital Technologies

Hedge funds have recently modified their holdings of the stock. Ethos Financial Group LLC bought a new position in HIVE Digital Technologies in the 2nd quarter valued at $36,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of HIVE Digital Technologies during the second quarter valued at $38,000. HBW Advisory Services LLC acquired a new position in shares of HIVE Digital Technologies during the third quarter valued at $40,000. WMG Financial Advisors LLC bought a new position in HIVE Digital Technologies in the third quarter valued at about $40,000. Finally, ACT Wealth Management LLC increased its position in HIVE Digital Technologies by 33.3% in the fourth quarter. ACT Wealth Management LLC now owns 16,000 shares of the company’s stock worth $41,000 after purchasing an additional 4,000 shares during the period. 24.42% of the stock is owned by institutional investors.

HIVE Digital Technologies Company Profile

HIVE Digital Technologies Ltd is a publicly traded blockchain infrastructure company that specializes in the mining of digital assets such as Bitcoin and Ethereum. Using high-performance GPU and ASIC hardware, HIVE deploys proprietary mining rigs across multiple data centers to validate transactions on major blockchain networks. The company’s operations are designed to maximize hashing power while maintaining efficiency and uptime, enabling it to build and hold a portfolio of mined cryptocurrencies.

Headquartered in Vancouver, British Columbia, HIVE Digital operates data center facilities in North America and Europe, including Canada, Sweden and Iceland.