Weiss Ratings Reaffirms "Sell (D)" Rating for HIVE Digital Technologies (NASDAQ:HIVE)

Key Points

• Weiss Ratings has reiterated a "Sell (D)" rating for HIVE Digital Technologies, indicating ongoing skepticism among stock analysts regarding the company's performance.
• Despite Weiss Ratings' stance, eight analysts have given HIVE Digital Technologies a "Buy" rating, with a consensus target price of $7.00.
• HIVE Digital Technologies reported a negative EPS of ($0.06) for the last quarter, exceeding the consensus estimate, while achieving revenue of $45.61 million.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report)'s stock had its "sell (d)" rating reiterated by stock analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Other equities research analysts have also issued research reports about the company. HC Wainwright dropped their price target on HIVE Digital Technologies from $9.00 to $6.00 and set a "buy" rating for the company in a research note on Friday, June 27th. Canaccord Genuity Group lifted their price target on HIVE Digital Technologies from $9.00 to $10.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Northland Securities set a $7.50 target price on HIVE Digital Technologies in a research note on Tuesday. Cantor Fitzgerald boosted their target price 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, Rosenblatt Securities lowered their target price on HIVE Digital Technologies from $5.50 to $5.00 and set a "buy" rating for the company in a research note on Friday, June 27th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $7.00.

HIVE Digital Technologies Price Performance

HIVE Digital Technologies stock opened at $6.54 on Wednesday. HIVE Digital Technologies has a 52 week low of $1.26 and a 52 week high of $6.63. The business has a 50-day simple moving average of $3.18 and a 200 day simple moving average of $2.32. The company has a quick ratio of 3.42, a current ratio of 3.42 and a debt-to-equity ratio of 0.02. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of -32.70 and a beta of 3.51.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Y Intercept Hong Kong Ltd bought a new position in HIVE Digital Technologies during the 1st quarter valued at approximately $31,000. Zhang Financial LLC bought a new position in shares of HIVE Digital Technologies in the 1st quarter worth approximately $33,000. Caitong International Asset Management Co. Ltd raised its position 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 worth $36,000 after acquiring an additional 24,234 shares in the last quarter. Ethos Financial Group LLC bought a new position in shares of HIVE Digital Technologies in the 2nd quarter worth approximately $36,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of HIVE Digital Technologies in the 2nd quarter worth approximately $38,000. 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.

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