HC Wainwright Issues Pessimistic Forecast for HIVE Digital Technologies (NASDAQ:HIVE) Stock Price

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) had its price target dropped by equities researchers at HC Wainwright from $9.00 to $6.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. HC Wainwright's price target points to a potential upside of 235.20% from the company's previous close.

A number of other equities research analysts have also weighed in on HIVE. Canaccord Genuity Group reissued a "buy" rating and set a $9.00 target price on shares of HIVE Digital Technologies in a report on Wednesday, March 26th. Cantor Fitzgerald cut their price target on shares of HIVE Digital Technologies from $10.00 to $8.00 and set an "overweight" rating on the stock in a report on Tuesday, March 11th. Wall Street Zen upgraded HIVE Digital Technologies to a "sell" rating in a report on Saturday, May 17th. Finally, Rosenblatt Securities lowered their target price on HIVE Digital Technologies from $5.50 to $5.00 and set a "buy" rating for the company in a research report on Friday. One research analyst has rated the stock with a sell rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $6.93.

HIVE Digital Technologies Stock Performance

NASDAQ:HIVE opened at $1.79 on Friday. The stock's 50-day moving average is $1.84 and its 200-day moving average is $2.26. HIVE Digital Technologies has a 1-year low of $1.26 and a 1-year high of $5.54. The company has a current ratio of 10.41, a quick ratio of 10.41 and a debt-to-equity ratio of 0.03. The stock has a market cap of $356.55 million, a P/E ratio of -35.80 and a beta of 3.45.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. SBI Securities Co. Ltd. acquired a new stake in HIVE Digital Technologies during the fourth quarter worth approximately $70,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of HIVE Digital Technologies by 126.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 736,287 shares of the company's stock worth $2,098,000 after buying an additional 411,071 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in shares of HIVE Digital Technologies during the 4th quarter worth approximately $2,058,000. Lifeworks Advisors LLC increased its stake in shares of HIVE Digital Technologies by 46.2% in the 4th quarter. Lifeworks Advisors LLC now owns 16,307 shares of the company's stock valued at $46,000 after acquiring an additional 5,152 shares in the last quarter. Finally, Chesapeake Capital Corp IL bought a new stake in shares of HIVE Digital Technologies in the 4th quarter valued at $94,000. 24.42% of the stock is owned by institutional investors.

About HIVE Digital Technologies

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.

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