HIVE Digital Technologies (NASDAQ:HIVE) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) had its target price lifted by Cantor Fitzgerald from $5.00 to $5.50 in a research report issued on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Cantor Fitzgerald's price target indicates a potential upside of 207.26% from the stock's previous close.

A number of other equities research analysts also recently issued reports on HIVE. Rosenblatt Securities lowered their target price on shares of HIVE Digital Technologies from $5.50 to $5.00 and set a "buy" rating for the company in a report on Friday. HC Wainwright lowered their price objective on shares of HIVE Digital Technologies from $9.00 to $6.00 and set a "buy" rating for the company in a research note on Friday. Wall Street Zen upgraded HIVE Digital Technologies to a "sell" rating in a report on Saturday, May 17th. Finally, Canaccord Genuity Group reiterated a "buy" rating and issued a $9.00 target price on shares of HIVE Digital Technologies in a report on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $6.57.

HIVE Digital Technologies Stock Up 0.6%

Shares of NASDAQ:HIVE opened at $1.79 on Friday. The stock's 50-day moving average price is $1.84 and its two-hundred day moving average price is $2.26. The company has a current ratio of 10.41, a quick ratio of 10.41 and a debt-to-equity ratio of 0.03. HIVE Digital Technologies has a 12-month low of $1.26 and a 12-month high of $5.54. The firm has a market cap of $356.55 million, a price-to-earnings ratio of -35.80 and a beta of 3.45.

Institutional Trading of HIVE Digital Technologies

Large investors have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of HIVE Digital Technologies during the fourth quarter worth about $26,000. Y Intercept Hong Kong Ltd acquired a new position in HIVE Digital Technologies during the 1st quarter worth approximately $31,000. Zhang Financial LLC purchased a new position in HIVE Digital Technologies in the 1st quarter worth approximately $33,000. Caitong International Asset Management Co. Ltd boosted its holdings in HIVE Digital Technologies by 3,966.3% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 24,845 shares of the company's stock worth $36,000 after acquiring an additional 24,234 shares during the period. Finally, Wells Fargo & Company MN grew its position in HIVE Digital Technologies by 60.9% in the fourth quarter. Wells Fargo & Company MN now owns 15,320 shares of the company's stock valued at $44,000 after acquiring an additional 5,800 shares in the last 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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