Rosenblatt Securities Lowers HIVE Digital Technologies (NASDAQ:HIVE) Price Target to $5.00

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) had its target price lowered by Rosenblatt Securities from $5.50 to $5.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Rosenblatt Securities' price target would indicate a potential upside of 179.33% from the stock's previous close.

Other analysts also recently issued reports about the company. Cantor Fitzgerald decreased their price target on HIVE Digital Technologies from $10.00 to $8.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 11th. Wall Street Zen upgraded shares of HIVE Digital Technologies to a "sell" rating in a research report on Saturday, May 17th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and issued a $9.00 target price on shares of HIVE Digital Technologies in a report on Wednesday, March 26th. One 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 company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $6.93.

HIVE Digital Technologies Trading Up 0.6%

NASDAQ HIVE opened at $1.79 on Friday. HIVE Digital Technologies has a 52-week low of $1.26 and a 52-week high of $5.54. The firm has a 50-day moving average price of $1.84 and a 200 day moving average price of $2.26. The stock has a market capitalization of $356.55 million, a P/E ratio of -35.80 and a beta of 3.45. The company has a quick ratio of 10.41, a current ratio of 10.41 and a debt-to-equity ratio of 0.03.

Institutional Investors Weigh In On HIVE Digital Technologies

Institutional investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in HIVE Digital Technologies in the 4th quarter valued at approximately $26,000. Y Intercept Hong Kong Ltd acquired a new position in shares of HIVE Digital Technologies in the first quarter worth about $31,000. Zhang Financial LLC purchased a new position in shares of HIVE Digital Technologies during the first quarter valued at $33,000. Caitong International Asset Management Co. Ltd grew its stake in shares of 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 valued at $36,000 after buying an additional 24,234 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in HIVE Digital Technologies by 60.9% in the 4th quarter. Wells Fargo & Company MN now owns 15,320 shares of the company's stock worth $44,000 after purchasing an additional 5,800 shares during the last quarter. Institutional investors and hedge funds 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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