HIVE Digital Technologies (NASDAQ:HIVE) Given New $3.00 Price Target at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald cut its price target on HIVE from $5.00 to $3.00 but maintained an overweight rating, a target that implies roughly a 41.8% upside from the prior close.
• Other analysts have also trimmed targets; the stock’s consensus remains a Moderate Buy with an average target of $6.17, based on six Buy, two Hold and one Sell ratings.
• HIVE traded near $2.12 (52‑week range $1.39–$7.84) with a market cap of about $542M, a negative P/E (-3.50), and roughly 24% institutional ownership including new positions from Two Sigma and Renaissance.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) had its price objective lowered by Cantor Fitzgerald from $5.00 to $3.00 in a report issued on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Cantor Fitzgerald's price objective would suggest a potential upside of 41.84% from the stock's previous close.

Other research analysts have also recently issued research reports about the stock. Rosenblatt Securities cut their price objective on shares of HIVE Digital Technologies from $6.50 to $4.50 and set a "buy" rating on the stock in a research report on Wednesday, February 18th. HC Wainwright reaffirmed a "buy" rating on shares of HIVE Digital Technologies in a research note on Tuesday, February 17th. New Street Research set a $5.00 target price on HIVE Digital Technologies in a research note on Thursday, February 19th. B. Riley Financial cut their target price on HIVE Digital Technologies from $7.00 to $6.00 and set a "buy" rating on the stock in a research note on Friday, February 13th. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $3.50 target price (down from $11.00) on shares of HIVE Digital Technologies in a research note on Tuesday, January 27th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $6.17.

HIVE Digital Technologies Stock Performance

HIVE Digital Technologies stock traded up $0.05 during trading on Thursday, reaching $2.12. The company had a trading volume of 2,769,441 shares, compared to its average volume of 10,698,962. HIVE Digital Technologies has a 52 week low of $1.39 and a 52 week high of $7.84. The firm has a market capitalization of $541.99 million, a price-to-earnings ratio of -3.50 and a beta of 3.56. The firm's 50-day simple moving average is $2.15 and its 200 day simple moving average is $3.31. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.02.

Hedge Funds Weigh In On HIVE Digital Technologies

Several institutional investors and hedge funds have recently modified their holdings of HIVE. Two Sigma Investments LP acquired a new position in shares of HIVE Digital Technologies in the 3rd quarter valued at about $17,584,000. Renaissance Technologies LLC acquired a new position in shares of HIVE Digital Technologies in the 4th quarter valued at $10,914,000. Millennium Management LLC lifted its stake in shares of HIVE Digital Technologies by 58.1% in the 4th quarter. Millennium Management LLC now owns 6,900,828 shares of the company's stock valued at $17,804,000 after purchasing an additional 2,536,135 shares during the period. Vident Advisory LLC lifted its stake in shares of HIVE Digital Technologies by 53.0% in the 2nd quarter. Vident Advisory LLC now owns 3,766,446 shares of the company's stock valued at $6,780,000 after purchasing an additional 1,305,057 shares during the period. Finally, Jump Financial LLC acquired a new position in shares of HIVE Digital Technologies in the 4th quarter valued at $3,344,000. Institutional investors and hedge funds own 24.42% of the company's stock.

HIVE Digital Technologies Company Profile

HIVE Digital Technologies Ltd is a publicly traded blockchain infrastructure company that specializes in the mining of digital assets such as Bitcoin and Ethereum. Using high-performance GPU and ASIC hardware, HIVE deploys proprietary mining rigs across multiple data centers to validate transactions on major blockchain networks. The company’s operations are designed to maximize hashing power while maintaining efficiency and uptime, enabling it to build and hold a portfolio of mined cryptocurrencies.

Headquartered in Vancouver, British Columbia, HIVE Digital operates data center facilities in North America and Europe, including Canada, Sweden and Iceland.

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