HIVE Digital Technologies’ (HIVE) “Buy” Rating Reiterated at Chardan Capital

HIVE Digital Technologies (NASDAQ:HIVE)‘s stock had its “buy” rating restated by research analysts at Chardan Capital in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $7.50 price objective on the stock. Chardan Capital’s target price suggests a potential upside of 155.54% from the company’s previous close.

HIVE has been the topic of several other research reports. HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of HIVE Digital Technologies in a research report on Monday, August 17th. Keefe, Bruyette & Woods increased their price target on shares of HIVE Digital Technologies from $3.00 to $5.00 and gave the company a “market perform” rating in a research note on Friday, June 5th. B. Riley Financial boosted their price objective on shares of HIVE Digital Technologies from $5.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. UBS Group set a $8.00 price objective on HIVE Digital Technologies in a research report on Wednesday, June 3rd. Finally, Cantor Fitzgerald set a $7.00 price target on HIVE Digital Technologies in a research note on Thursday, June 4th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $6.95.

HIVE Digital Technologies Price Performance

HIVE Digital Technologies stock traded up $0.04 during trading hours on Wednesday, hitting $2.94. 6,166,531 shares of the stock were exchanged, compared to its average volume of 19,191,869. The stock has a market capitalization of $803.84 million, a P/E ratio of -2.28 and a beta of 3.75. The business’s 50-day moving average is $2.95 and its two-hundred day moving average is $2.96. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.96 and a current ratio of 1.96. HIVE Digital Technologies has a 12 month low of $1.73 and a 12 month high of $7.84.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its earnings results on Friday, August 14th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.33). The firm had revenue of $79.12 million during the quarter, compared to the consensus estimate of $81.72 million. HIVE Digital Technologies had a negative net margin of 98.49% and a negative return on equity of 31.98%. During the same quarter last year, the firm posted $0.18 EPS. Equities research analysts expect that HIVE Digital Technologies will post -0.61 EPS for the current fiscal year.

Insider Buying and Selling

In other HIVE Digital Technologies news, Director Dave Perrill sold 100,000 shares of HIVE Digital Technologies stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $2.72, for a total transaction of $272,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Susan B. Mcgee sold 125,000 shares of the business’s stock in a transaction dated Friday, June 19th. The shares were sold at an average price of $4.25, for a total value of $531,250.00. Following the completion of the transaction, the director directly owned 125,000 shares of the company’s stock, valued at approximately $531,250. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 400,000 shares of company stock worth $1,624,000 over the last quarter.

Institutional Trading of HIVE Digital Technologies

Several hedge funds have recently bought and sold shares of HIVE. WINTON GROUP Ltd lifted its stake in HIVE Digital Technologies by 458.9% in the second quarter. WINTON GROUP Ltd now owns 59,800 shares of the company’s stock valued at $218,000 after buying an additional 49,100 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in shares of HIVE Digital Technologies during the second quarter worth $628,000. Integrated Wealth Concepts LLC bought a new stake in HIVE Digital Technologies in the 2nd quarter valued at $130,000. Situational Awareness LP lifted its position in HIVE Digital Technologies by 169.3% in the 2nd quarter. Situational Awareness LP now owns 9,133,726 shares of the company’s stock valued at $33,247,000 after acquiring an additional 5,742,179 shares in the last quarter. Finally, TD Waterhouse Canada Inc. boosted its stake in HIVE Digital Technologies by 35.9% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 18,476 shares of the company’s stock worth $64,000 after purchasing an additional 4,877 shares during the period. 24.42% of the stock is currently owned by institutional investors and hedge funds.

About HIVE Digital Technologies

HIVE Digital Technologies Ltd. is a digital infrastructure company that develops and operates data centers designed for high-performance computing. Its primary business has historically been the mining of Bitcoin using specialized computing equipment, with operations supported by renewable and low-carbon energy sources where available.

The company is also expanding beyond cryptocurrency mining by evaluating and developing infrastructure for artificial intelligence, cloud computing and other high-performance computing applications.