HIVE Digital Technologies (NASDAQ:HIVE) Stock Price Expected to Rise, Rosenblatt Securities Analyst Says

Key Points

• HIVE Digital Technologies had its price target raised from $5.00 to $10.00 by Rosenblatt Securities, indicating a potential upside of 63.61% from its current stock price.
• Multiple analysts have mixed views on HIVE, with ratings ranging from a "buy" to a "sell," and a consensus average price target of $7.71.
• HIVE Digital Technologies reported a quarterly earnings surprise, posting an EPS of ($0.06), beating estimates, and generated revenue of $45.61 million for the quarter.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) had its price target raised by analysts at Rosenblatt Securities from $5.00 to $10.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Rosenblatt Securities' price target would indicate a potential upside of 63.61% from the stock's current price.

Several other analysts have also commented on the company. HC Wainwright decreased their price target on HIVE Digital Technologies from $9.00 to $6.00 and set a "buy" rating on the stock in a research note on Friday, June 27th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of HIVE Digital Technologies in a research note on Wednesday, October 8th. Northland Securities set a $7.50 price target on HIVE Digital Technologies in a research note on Tuesday, October 7th. Cantor Fitzgerald boosted their price target on HIVE Digital Technologies from $5.00 to $5.50 and gave the company an "overweight" rating in a research note on Friday, June 27th. Finally, Zacks Research upgraded HIVE Digital Technologies to a "hold" rating in a research report on Friday, August 8th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $7.71.

HIVE Digital Technologies Stock Performance

Shares of NASDAQ:HIVE traded down $0.70 during trading on Thursday, hitting $6.11. 19,430,588 shares of the stock were exchanged, compared to its average volume of 19,460,557. HIVE Digital Technologies has a 1-year low of $1.26 and a 1-year high of $7.84. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of -30.69 and a beta of 3.51. The company's fifty day simple moving average is $3.66 and its 200-day simple moving average is $2.49. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.42 and a current ratio of 3.42.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.02. The business had revenue of $45.61 million for the quarter, compared to analyst estimates of $45.16 million. HIVE Digital Technologies had a negative return on equity of 17.39% and a negative net margin of 17.47%. Sell-side analysts expect that HIVE Digital Technologies will post -0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On HIVE Digital Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in HIVE. Generali Investments CEE investicni spolecnost a.s. raised its position in shares of HIVE Digital Technologies by 18.5% during the first quarter. Generali Investments CEE investicni spolecnost a.s. now owns 855,950 shares of the company's stock worth $1,241,000 after acquiring an additional 133,840 shares during the last quarter. SBI Securities Co. Ltd. raised its position in shares of HIVE Digital Technologies by 30.9% during the first quarter. SBI Securities Co. Ltd. now owns 31,950 shares of the company's stock worth $46,000 after acquiring an additional 7,535 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of HIVE Digital Technologies during the first quarter worth $31,000. Phoenix Financial Ltd. raised its position in shares of HIVE Digital Technologies by 81.3% during the first quarter. Phoenix Financial Ltd. now owns 208,904 shares of the company's stock worth $304,000 after acquiring an additional 93,704 shares during the last quarter. Finally, Arkadios Wealth Advisors bought a new stake in shares of HIVE Digital Technologies during the first quarter worth $72,000. Institutional investors own 24.42% of the company's stock.

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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