HIVE Digital Technologies (NASDAQ:HIVE) Given New $7.00 Price Target at Chardan Capital

Key Points

• Chardan Capital cut its price target on HIVE Digital Technologies from $7.50 to $7.00 but maintained a Buy rating. Analysts’ consensus rating is Moderate Buy, with an average target of $6.90.
• HIVE shares fell 5% to $1.72 in Tuesday trading, close to their 52-week low of $1.58.
• For the quarter, HIVE reported revenue of $84.88 million, above expectations, and a loss of $0.15 per share—slightly narrower than analysts forecast but wider than a year earlier.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) had its target price dropped by analysts at Chardan Capital from $7.50 to $7.00 in a report released on Tuesday, Benzinga reports. The firm presently has a "buy" rating on the stock. Chardan Capital's price target would suggest a potential upside of 306.98% from the stock's current price.

A number of other research analysts have also issued reports on the company. Weiss Ratings upgraded HIVE Digital Technologies from a "sell (d-)" rating to a "sell (d)" rating in a report on Friday, August 14th. HC Wainwright restated a "buy" rating and set a $7.00 price target on shares of HIVE Digital Technologies in a report on Monday, August 17th. Canaccord Genuity Group restated a "buy" rating and set a $10.00 price target on shares of HIVE Digital Technologies in a report on Monday, October 19th. Finally, Rosenblatt Securities increased their price target on HIVE Digital Technologies from $5.50 to $6.00 and gave the company a "buy" rating in a research report on Thursday, August 20th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $6.90.

HIVE Digital Technologies Trading Down 5.0%

HIVE traded down $0.09 during mid-day trading on Tuesday, hitting $1.72. 9,929,825 shares of the stock were exchanged, compared to its average volume of 17,834,971. The firm's fifty day moving average is $2.58 and its two-hundred day moving average is $2.79. HIVE Digital Technologies has a 1-year low of $1.58 and a 1-year high of $5.34. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.85. The company has a market cap of $475.10 million, a PE ratio of -1.33 and a beta of 3.76.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last announced its earnings results on Monday, November 9th. The company reported ($0.15) EPS for the quarter, beating analysts' consensus estimates of ($0.16) by $0.01. The company had revenue of $84.88 million during the quarter, compared to analysts' expectations of $79.44 million. HIVE Digital Technologies had a negative return on equity of 31.98% and a negative net margin of 98.49%. Equities analysts forecast that HIVE Digital Technologies will post -0.66 earnings per share for the current fiscal year.

Insider Activity at HIVE Digital Technologies

In related news, Director Dave Perrill sold 100,000 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $2.72, for a total value of $272,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Institutional Inflows and Outflows

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

Key Stories Impacting HIVE Digital Technologies

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

• Positive Sentiment: Revenue was $84.9 million, above analyst estimates of $79.44 million, while AI computing revenue grew 70.7% and adjusted EBITDA increased 85%. HIVE also reported $139 million in cash, supporting its investment in AI infrastructure. HIVE Q2 results
• Positive Sentiment: HIVE added 79 Bitcoin in Q3, bringing its treasury to 269 BTC. The increase signals continued accumulation, although it also leaves the company exposed to cryptocurrency price swings. HIVE adds Bitcoin
• Negative Sentiment: The quarterly loss widened: HIVE reported a loss of $0.15 per share, slightly better than the $0.16 loss analysts expected, but worse than the $0.02 loss a year earlier. The larger loss may temper optimism about its growth investments. HIVE Q2 loss
• Negative Sentiment: Bitcoin mining production reportedly rose 49%, but lower Bitcoin prices weighed on mining revenue; a separate report also flagged an HPC revenue miss. These points raise questions about whether AI growth can offset weaker mining economics. Mining revenue and Bitcoin prices HPC revenue report

About HIVE Digital Technologies

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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