HIVE Digital Technologies (NASDAQ:HIVE) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of HIVE Digital Technologies (NASDAQ:HIVE) from a hold rating to a sell rating in a research report released on Saturday.

A number of other research analysts have also issued reports on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of HIVE Digital Technologies in a research note on Friday, October 31st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $10.00 price objective on shares of HIVE Digital Technologies in a report on Tuesday, November 18th. HC Wainwright boosted their target price on HIVE Digital Technologies from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. B. Riley reduced their price target on HIVE Digital Technologies from $8.00 to $7.00 and set a “buy” rating for the company in a report on Friday. Finally, Northland Securities set a $7.50 price objective on HIVE Digital Technologies in a report on Tuesday, October 7th. Eight research 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $8.13.

HIVE Digital Technologies Price Performance

HIVE Digital Technologies stock opened at $3.21 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.55 and a quick ratio of 2.55. The business has a 50 day simple moving average of $4.76 and a 200-day simple moving average of $3.12. HIVE Digital Technologies has a 12 month low of $1.26 and a 12 month high of $7.84. The stock has a market capitalization of $763.05 million, a PE ratio of -15.29 and a beta of 3.54.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its quarterly earnings data on Friday, November 14th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The firm had revenue of $83.37 million during the quarter, compared to analysts’ expectations of $80.62 million. HIVE Digital Technologies had a negative net margin of 16.18% and a negative return on equity of 14.15%. Equities analysts predict that HIVE Digital Technologies will post -0.32 earnings per share for the current year.

Institutional Investors Weigh In On HIVE Digital Technologies

A number of institutional investors and hedge funds have recently modified their holdings of HIVE. WMG Financial Advisors LLC acquired a new position in HIVE Digital Technologies during the third quarter worth $40,000. HBW Advisory Services LLC acquired a new stake in HIVE Digital Technologies in the third quarter valued at $40,000. PKS Advisory Services LLC purchased a new position in shares of HIVE Digital Technologies in the third quarter valued at $44,000. R Squared Ltd acquired a new position in shares of HIVE Digital Technologies during the 3rd quarter worth $45,000. Finally, PFG Private Wealth Management LLC purchased a new stake in shares of HIVE Digital Technologies in the 3rd quarter worth about $54,000. 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.