HIVE Digital Technologies’ (HIVE) Market Perform Rating Reiterated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their market perform rating on shares of HIVE Digital Technologies (NASDAQ:HIVE) in a research note published on Tuesday, MarketBeat Ratings reports. The firm currently has a $3.50 price target on the stock, down from their prior price target of $11.00.

Several other equities analysts also recently weighed in on HIVE. Weiss Ratings restated a “sell (d+)” rating on shares of HIVE Digital Technologies in a research report on Friday, October 31st. Canaccord Genuity Group reissued a “buy” rating and issued a $10.00 price objective on shares of HIVE Digital Technologies in a research note on Friday, November 21st. B. Riley lowered their target price on shares of HIVE Digital Technologies from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, November 21st. Northland Securities set a $7.50 target price on shares of HIVE Digital Technologies in a report on Tuesday, October 7th. Finally, Wall Street Zen cut shares of HIVE Digital Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $7.63.

HIVE Digital Technologies Stock Down 6.8%

Shares of NASDAQ HIVE opened at $2.75 on Tuesday. The firm has a market cap of $684.20 million, a price-to-earnings ratio of -13.10 and a beta of 3.58. The company’s 50-day simple moving average is $3.05 and its 200-day simple moving average is $3.47. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.02. HIVE Digital Technologies has a 52-week low of $1.26 and a 52-week high of $7.84.

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

Institutional Investors Weigh In On HIVE Digital Technologies

Hedge funds have recently modified their holdings of the company. Ethos Financial Group LLC purchased a new position in HIVE Digital Technologies during the second quarter worth about $36,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of HIVE Digital Technologies in the 2nd quarter valued at approximately $38,000. HBW Advisory Services LLC acquired a new stake in shares of HIVE Digital Technologies during the 3rd quarter worth approximately $40,000. WMG Financial Advisors LLC purchased a new stake in shares of HIVE Digital Technologies during the 3rd quarter valued at approximately $40,000. Finally, ACT Wealth Management LLC lifted its holdings 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 valued at $41,000 after acquiring an additional 4,000 shares during the last quarter. Hedge funds and other institutional investors own 24.42% of the company’s stock.

About HIVE Digital Technologies

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.