HIVE Digital Technologies (NASDAQ:HIVE) Price Target Cut to $5.00 by Analysts at Rosenblatt Securities

HIVE Digital Technologies (NASDAQ:HIVE) had its target price cut by equities researchers at Rosenblatt Securities from $5.50 to $5.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Rosenblatt Securities’ target price suggests a potential upside of 177.78% from the stock’s previous close.

A number of other analysts also recently commented on HIVE. Wall Street Zen upgraded HIVE Digital Technologies to a “sell” rating in a research note on Saturday, May 17th. Cantor Fitzgerald lowered their target price on HIVE Digital Technologies from $10.00 to $8.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 11th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $9.00 target price on shares of HIVE Digital Technologies in a research note on Wednesday, March 26th. One analyst has rated the stock with a sell rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, HIVE Digital Technologies presently has a consensus rating of “Buy” and an average price target of $6.57.

HIVE Digital Technologies Stock Up 0.6%

Shares of HIVE stock opened at $1.80 on Friday. The stock’s 50-day simple moving average is $1.84 and its 200-day simple moving average is $2.23. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.41 and a current ratio of 10.41. The firm has a market capitalization of $358.54 million, a PE ratio of -5.00 and a beta of 3.45. HIVE Digital Technologies has a fifty-two week low of $1.26 and a fifty-two week high of $5.54.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its quarterly earnings data on Wednesday, June 25th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.20). HIVE Digital Technologies had a negative net margin of 48.65% and a negative return on equity of 22.15%. The firm had revenue of $31.16 million during the quarter, compared to analyst estimates of $31.47 million. Equities analysts expect that HIVE Digital Technologies will post -0.32 earnings per share for the current year.

Hedge Funds Weigh In On HIVE Digital Technologies

Hedge funds have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in HIVE Digital Technologies during the fourth quarter worth approximately $26,000. Y Intercept Hong Kong Ltd purchased a new position in shares of HIVE Digital Technologies in the first quarter valued at approximately $31,000. Zhang Financial LLC purchased a new position in shares of HIVE Digital Technologies in the first quarter valued at approximately $33,000. Caitong International Asset Management Co. Ltd lifted its position in shares of HIVE Digital Technologies by 3,966.3% in the first quarter. Caitong International Asset Management Co. Ltd now owns 24,845 shares of the company’s stock valued at $36,000 after acquiring an additional 24,234 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of HIVE Digital Technologies by 60.9% in the fourth quarter. Wells Fargo & Company MN now owns 15,320 shares of the company’s stock valued at $44,000 after acquiring an additional 5,800 shares in the last quarter. 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.