HIVE Digital Technologies (NASDAQ:HIVE) Given New $5.00 Price Target at Rosenblatt Securities

HIVE Digital Technologies (NASDAQ:HIVE) had its price objective lowered by equities researchers at Rosenblatt Securities from $6.00 to $5.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Rosenblatt Securities‘s price objective would indicate a potential upside of 185.71% from the company’s current price.

A number of other equities research analysts have also recently issued reports on HIVE. Chardan Capital decreased their target price on HIVE Digital Technologies from $7.50 to $7.00 and set a “buy” rating for the company in a research report on Tuesday. Weiss Ratings raised shares of HIVE Digital Technologies from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, August 14th. HC Wainwright reduced their price objective on shares of HIVE Digital Technologies from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Wednesday. Canaccord Genuity Group reaffirmed a “buy” rating and set a $10.00 price objective on shares of HIVE Digital Technologies in a report on Monday, October 19th. Finally, B. Riley Financial lowered their target price on shares of HIVE Digital Technologies from $8.00 to $5.00 and set a “buy” rating on the stock in a research note on Wednesday. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, HIVE Digital Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $5.90.

HIVE Digital Technologies Price Performance

NASDAQ HIVE opened at $1.75 on Thursday. HIVE Digital Technologies has a fifty-two week low of $1.58 and a fifty-two week high of $5.34. The stock’s 50-day moving average is $2.54 and its two-hundred day moving average is $2.78. The firm has a market cap of $484.27 million, a P/E ratio of -1.16 and a beta of 3.76. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.55 and a quick ratio of 1.96.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its quarterly earnings data on Monday, November 9th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.13). HIVE Digital Technologies had a negative net margin of 118.13% and a negative return on equity of 43.76%. The company had revenue of $84.88 million for the quarter, compared to analyst estimates of $79.44 million. On average, analysts anticipate that HIVE Digital Technologies will post -0.66 earnings per share for the current fiscal year.

Insider Transactions at HIVE Digital Technologies

In other HIVE Digital Technologies news, Director Dave Perrill sold 12,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 7th. The stock was sold at an average price of $2.75, for a total value of $34,375.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 9.44% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Situational Awareness LP acquired a new stake in shares of HIVE Digital Technologies in the first quarter worth $6,444,000. BTG Pactual Asset Management US LLC bought a new position in HIVE Digital Technologies during the second quarter worth $2,730,000. Acasta Partners UK LLP bought a new position in HIVE Digital Technologies during the second quarter worth $3,640,000. Empowered Funds LLC acquired a new position in HIVE Digital Technologies during the 1st quarter valued at $1,934,000. Finally, Engineers Gate Manager LP acquired a new position in HIVE Digital Technologies during the 2nd quarter valued at $628,000. 24.42% of the stock is currently owned by institutional investors and hedge funds.

HIVE Digital Technologies News Roundup

These are some of the HIVE news items that stood out recently:

• Positive Sentiment: Fiscal Q2 revenue was $84.9 million, above the roughly $79.4 million analyst consensus cited in the provided results. AI/HPC revenue grew about 71%, and adjusted EBITDA rose 85%, supporting HIVE’s effort to diversify beyond Bitcoin mining. HIVE Digital Technologies Q2 revenue and AI GPU growth
• Positive Sentiment: HIVE is targeting $45 million in annual AI revenue from its Sweden data center, offering a potential growth opportunity if it can execute on the plan. HIVE targets annual AI revenue from Sweden data center
• Positive Sentiment: The company added 79 bitcoin in Q3, bringing its treasury to 269 BTC. HIVE adds bitcoin in Q3

HIVE Digital Technologies Company Profile

HIVE Digital Technologies Ltd. is a digital infrastructure company focused on cryptocurrency mining and high-performance computing. Its operations include data centers that support Bitcoin mining, as well as computing services for applications such as artificial intelligence and other data-intensive workloads. Founded in 2017 as HIVE Blockchain Technologies, the company initially focused on mining digital assets, including Ethereum. It has since expanded its emphasis on Bitcoin mining and high-performance computing.