HIVE Digital Technologies (NASDAQ:HIVE) Announces Quarterly Earnings Results

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) issued its quarterly earnings results on Wednesday. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.20), Zacks reports. The company had revenue of $31.16 million during the quarter, compared to the consensus estimate of $31.47 million. HIVE Digital Technologies had a negative return on equity of 8.95% and a negative net margin of 5.45%.

HIVE Digital Technologies Trading Down 0.8%

Shares of HIVE stock opened at $1.78 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.41 and a current ratio of 10.41. The firm has a fifty day moving average of $1.84 and a 200-day moving average of $2.26. The stock has a market cap of $353.56 million, a price-to-earnings ratio of -35.70 and a beta of 3.45. HIVE Digital Technologies has a 52-week low of $1.26 and a 52-week high of $5.54.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $9.00 price objective on shares of HIVE Digital Technologies in a report on Wednesday, March 26th. Rosenblatt Securities decreased their price target on HIVE Digital Technologies from $5.50 to $5.00 and set a "buy" rating for the company in a research note on Friday. Cantor Fitzgerald lifted their price target on shares of HIVE Digital Technologies from $5.00 to $5.50 and gave the stock an "overweight" rating in a research report on Friday. Wall Street Zen raised shares of HIVE Digital Technologies to a "sell" rating in a research report on Saturday, May 17th. Finally, HC Wainwright lowered their price objective on shares of HIVE Digital Technologies from $9.00 to $6.00 and set a "buy" rating on the stock in a research report on Friday. One investment analyst has rated the stock with a sell rating, eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $6.57.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in HIVE Digital Technologies stock. Goldman Sachs Group Inc. increased its holdings in shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Free Report) by 328.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 520,877 shares of the company's stock after buying an additional 399,223 shares during the period. Goldman Sachs Group Inc. owned 0.29% of HIVE Digital Technologies worth $755,000 at the end of the most recent quarter. 24.42% of the stock is currently owned by institutional investors and hedge funds.

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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