HIVE Digital Technologies (NASDAQ:HIVE) Stock Price Target Cut by Rosenblatt Securities

Key Points

• Rosenblatt Securities lowered its HIVE price target from $6 to $5 but maintained a Buy rating; the new target implies 185.7% upside from the share price cited in the report.
• Analyst sentiment remains generally positive: MarketBeat lists a Moderate Buy consensus and an average price target of $5.90, though several firms recently cut their targets.
• HIVE reported a quarterly loss of $0.29 per share, worse than the expected $0.16 loss, while revenue of $84.88 million exceeded estimates of $79.44 million.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) had its price objective cut by equities researchers at Rosenblatt Securities from $6.00 to $5.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Rosenblatt Securities's price target suggests a potential upside of 185.71% from the company's current price.

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

HIVE Digital Technologies Stock Up 1.7%

HIVE stock opened at $1.75 on Thursday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.55 and a quick ratio of 1.96. The firm has a market capitalization of $484.27 million, a P/E ratio of -1.16 and a beta of 3.76. HIVE Digital Technologies has a 52-week low of $1.58 and a 52-week high of $5.34. The company's 50 day simple moving average is $2.54 and its 200-day simple moving average is $2.78.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last posted 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 return on equity of 43.76% and a negative net margin of 118.13%. The firm had revenue of $84.88 million during the quarter, compared to analyst estimates of $79.44 million. As a group, equities research analysts anticipate that HIVE Digital Technologies will post -0.66 EPS for the current year.

Insider Buying and Selling 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 transaction of $272,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 9.44% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Situational Awareness LP raised its stake in shares of HIVE Digital Technologies by 169.3% during the 2nd quarter. Situational Awareness LP now owns 9,133,726 shares of the company's stock worth $33,247,000 after purchasing an additional 5,742,179 shares in the last quarter. Empowered Funds LLC acquired a new position in HIVE Digital Technologies in the first quarter worth approximately $1,934,000. Acasta Partners UK LLP acquired a new position in HIVE Digital Technologies in the second quarter worth approximately $3,640,000. BTG Pactual Asset Management US LLC bought a new position in HIVE Digital Technologies during the second quarter valued at approximately $2,730,000. Finally, Commonwealth Equity Services LLC lifted its stake in HIVE Digital Technologies by 1.9% in the third quarter. Commonwealth Equity Services LLC now owns 416,690 shares of the company's stock valued at $1,229,000 after acquiring an additional 7,772 shares during the last quarter. Hedge funds and other institutional investors own 24.42% of the company's stock.

Trending Headlines about HIVE Digital Technologies

Investors following HIVE have been watching these headlines:

• 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
• Negative Sentiment: HIVE reported a quarterly loss of $0.29 per share, worse than the $0.16 loss analysts expected. The loss may weigh on sentiment despite revenue beating expectations.
• Negative Sentiment: Several firms lowered their price targets: B. Riley cut its target from $8 to $5, HC Wainwright from $6 to $5, and Chardan Capital from $7.50 to $7. All retained Buy ratings, but the reductions signal more cautious valuation expectations. B. Riley cuts HIVE price target

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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