Wall Street Zen Upgrades HIVE Digital Technologies (NASDAQ:HIVE) to "Hold"

Key Points

• HIVE Digital Technologies has been upgraded from a "strong sell" to a "hold" rating by Wall Street Zen, signaling a shift in analyst sentiment.
• Several analysts have varied price targets for HIVE, with Cantor Fitzgerald setting it at $5.50 while HC Wainwright revised it down to $6.00.
• HIVE reported a quarterly loss of ($0.31) earnings per share, missing expectations, with a negative net margin of 48.65%.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) was upgraded by analysts at Wall Street Zen from a "strong sell" rating to a "hold" rating in a research note issued on Saturday.

Several other equities research analysts have also commented on the stock. Rosenblatt Securities cut their price target 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, June 27th. HC Wainwright cut their price target on shares of HIVE Digital Technologies from $9.00 to $6.00 and set a "buy" rating for the company in a report on Friday, June 27th. Cantor Fitzgerald boosted their price target on shares of HIVE Digital Technologies from $5.00 to $5.50 and gave the stock an "overweight" rating in a report on Friday, June 27th. Zacks Research raised shares of HIVE Digital Technologies to a "hold" rating in a report on Friday, August 8th. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $9.00 price target on shares of HIVE Digital Technologies in a report on Thursday, July 3rd. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, HIVE Digital Technologies currently has a consensus rating of "Buy" and a consensus price target of $6.83.

HIVE Digital Technologies Stock Performance

Shares of NASDAQ:HIVE traded up $0.01 during trading on Friday, hitting $2.40. 14,763,355 shares of the stock traded hands, compared to its average volume of 19,416,648. The company has a market cap of $550.42 million, a price-to-earnings ratio of -12.00 and a beta of 3.41. The company has a fifty day moving average price of $2.12 and a two-hundred day moving average price of $1.99. The company has a quick ratio of 3.72, a current ratio of 3.42 and a debt-to-equity ratio of 0.02. HIVE Digital Technologies has a 52-week low of $1.26 and a 52-week high of $5.54.

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

Institutional Investors Weigh In On HIVE Digital Technologies

A number of large investors have recently modified their holdings of HIVE. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of HIVE Digital Technologies during the 4th quarter valued at about $26,000. Y Intercept Hong Kong Ltd acquired a new position in shares of HIVE Digital Technologies during the 1st quarter valued at about $31,000. Zhang Financial LLC acquired a new position in shares of HIVE Digital Technologies during the 1st quarter valued at about $33,000. Caitong International Asset Management Co. Ltd boosted its position in shares of HIVE Digital Technologies by 3,966.3% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 24,845 shares of the company's stock valued at $36,000 after acquiring an additional 24,234 shares during the last quarter. Finally, Ethos Financial Group LLC acquired a new position in shares of HIVE Digital Technologies during the 2nd quarter valued at about $36,000. Hedge funds and other institutional investors own 24.42% of the company's stock.

HIVE Digital Technologies Company Profile

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.