HIVE Digital Technologies (NASDAQ:HIVE) Given New $5.00 Price Target at B. Riley Financial

Key Points

• B. Riley cut its HIVE price target from $8 to $5 but maintained a Buy rating; the new target implies 181.53% upside from the prior close.
• Analyst sentiment remains moderately positive: six analysts rate HIVE Buy, one Hold and one Sell, with a consensus price target of $6.40.
• Quarterly revenue of $84.88 million exceeded estimates, but HIVE’s loss of $0.29 per share was wider than expected, underscoring its ongoing unprofitability.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) had its price target lowered by equities research analysts at B. Riley Financial from $8.00 to $5.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a "buy" rating on the stock. B. Riley Financial's target price indicates a potential upside of 181.53% from the company's previous close.

HIVE has been the subject of a number of other reports. Weiss Ratings upgraded shares of HIVE Digital Technologies from a "sell (d-)" rating to a "sell (d)" rating in a research report on Friday, August 14th. Chardan Capital lowered their price target on HIVE Digital Technologies from $7.50 to $7.00 and set a "buy" rating on the stock in a report on Tuesday. Rosenblatt Securities upped their price target on HIVE Digital Technologies from $5.50 to $6.00 and gave the stock a "buy" rating in a report on Thursday, August 20th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $10.00 price objective on shares of HIVE Digital Technologies in a research note on Monday, October 19th. Finally, HC Wainwright reduced their price objective on HIVE Digital Technologies from $6.00 to $5.00 and set a "buy" rating for the company in a report on Wednesday. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $6.40.

HIVE Digital Technologies Stock Performance

NASDAQ:HIVE opened at $1.78 on Wednesday. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.85. HIVE Digital Technologies has a fifty-two week low of $1.58 and a fifty-two week high of $5.34. The stock has a market cap of $490.57 million, a PE ratio of -1.18 and a beta of 3.76. The firm's fifty day simple moving average is $2.56 and its 200-day simple moving average is $2.79.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last announced its quarterly earnings data on Monday, November 9th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.13). HIVE Digital Technologies had a negative net margin of 118.13% and a negative return on equity of 40.74%. The company had revenue of $84.88 million during the quarter, compared to analyst estimates of $79.44 million. Analysts expect 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 on Wednesday, October 7th. The stock was sold at an average price of $2.75, for a total transaction of $34,375.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Trading of HIVE Digital Technologies

A number of large investors have recently made changes to their positions in the stock. Situational Awareness LP acquired a new position in HIVE Digital Technologies in the 1st quarter valued at about $6,444,000. BTG Pactual Asset Management US LLC acquired a new stake in shares of HIVE Digital Technologies during the 2nd quarter worth about $2,730,000. Acasta Partners UK LLP acquired a new stake in shares of HIVE Digital Technologies during the 2nd quarter worth about $3,640,000. Empowered Funds LLC purchased a new stake in shares of HIVE Digital Technologies during the first quarter worth about $1,934,000. Finally, Engineers Gate Manager LP purchased a new stake in shares of HIVE Digital Technologies during the second quarter worth about $628,000. Institutional investors and hedge funds own 24.42% of the company's stock.

Trending Headlines about HIVE Digital Technologies

Here are the key news stories impacting HIVE Digital Technologies this week:

• Positive Sentiment: Fiscal Q2 revenue was $84.9 million, above analyst estimates of $79.4 million. HIVE also reported roughly 70% growth in AI/GPU revenue and an 85% increase in adjusted EBITDA, highlighting progress in its high-performance computing business. HIVE Q2 results
• Positive Sentiment: The company highlighted $139 million in cash and a plan targeting $45 million in annual AI revenue from its Sweden data center, which could support expansion of its non-mining business. Sweden data center AI revenue target
• Neutral Sentiment: HIVE added 79 Bitcoin in Q3, bringing its treasury to 269 BTC. The holdings add exposure to Bitcoin, whose price can also affect mining revenue and asset values. HIVE Bitcoin treasury
• Neutral Sentiment: HC Wainwright and Chardan Capital lowered their price targets to $5 and $7, respectively, but both maintained Buy ratings. The reductions temper expectations, while the continued ratings signal favorable analyst views. HC Wainwright rating
• Negative Sentiment: Despite revenue beating estimates, HIVE’s reported quarterly loss per share of $0.29 was wider than the $0.16 loss analysts expected. The company remains deeply unprofitable, and coverage also noted that HPC revenue missed expectations. HIVE earnings report
• Negative Sentiment: Reports that miners are earning more from AI while continuing to sell Bitcoin point to potential ongoing supply pressure; falling Bitcoin prices have also been cited as a factor behind lower mining revenue. Bitcoin miners and selling pressure

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.

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