HC Wainwright Has Lowered Expectations for HIVE Digital Technologies (NASDAQ:HIVE) Stock Price

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) had its price objective cut by stock analysts at HC Wainwright from $9.00 to $6.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. HC Wainwright's price target points to a potential upside of 233.33% from the stock's current price.

A number of other equities research analysts also recently weighed in on the stock. Cantor Fitzgerald dropped their price target on shares of HIVE Digital Technologies from $10.00 to $8.00 and set an "overweight" rating for the company in a research report on Tuesday, March 11th. Wall Street Zen upgraded HIVE Digital Technologies to a "sell" rating in a research note on Saturday, May 17th. Rosenblatt Securities dropped their price objective on HIVE Digital Technologies from $5.50 to $5.00 and set a "buy" rating for the company in a report on Friday. Finally, Canaccord Genuity Group restated a "buy" rating and set a $9.00 price objective on shares of HIVE Digital Technologies in a research report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, HIVE Digital Technologies currently has an average rating of "Buy" and an average price target of $6.57.

HIVE Digital Technologies Price Performance

NASDAQ HIVE remained flat at $1.80 on Friday. The company's stock had a trading volume of 30,931,187 shares, compared to its average volume of 8,391,299. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.72 and a current ratio of 3.72. The stock has a market capitalization of $358.54 million, a P/E ratio of -5.00 and a beta of 3.46. The stock's fifty day moving average is $1.84 and its two-hundred day moving average is $2.22. HIVE Digital Technologies has a 52-week low of $1.26 and a 52-week high of $5.54.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last released its quarterly earnings results on Wednesday, June 25th. The company reported ($0.31) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.20). HIVE Digital Technologies had a negative return on equity of 20.30% and a negative net margin of 48.65%. The business had revenue of $31.16 million for the quarter, compared to the consensus estimate of $31.47 million. Research analysts predict that HIVE Digital Technologies will post -0.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Cubist Systematic Strategies LLC increased its holdings in HIVE Digital Technologies by 332.8% in the 4th quarter. Cubist Systematic Strategies LLC now owns 962,677 shares of the company's stock worth $2,744,000 after purchasing an additional 740,247 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new stake in shares of HIVE Digital Technologies during the fourth quarter worth about $2,058,000. Charles Schwab Investment Management Inc. increased its stake in shares of HIVE Digital Technologies by 87.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,383,446 shares of the company's stock valued at $2,006,000 after buying an additional 647,159 shares during the period. Vident Advisory LLC raised its holdings in HIVE Digital Technologies by 26.1% in the 4th quarter. Vident Advisory LLC now owns 2,831,492 shares of the company's stock valued at $8,072,000 after buying an additional 585,511 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in HIVE Digital Technologies by 328.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 520,877 shares of the company's stock worth $755,000 after buying an additional 399,223 shares during the period. 24.42% of the stock is currently owned by institutional investors and hedge funds.

HIVE Digital Technologies Company Profile

HIVE Digital Technologies Ltd. operates as a cryptocurrency mining company in Canada, Sweden, and Iceland. The company engages in the mining and sale of digital currencies, including Ethereum Classic, Bitcoin, and other coins. It also operates data centers; and offers infrastructure solutions. The company was formerly known as HIVE Blockchain Technologies Ltd.