HIVE Digital Technologies (NASDAQ:HIVE) Coverage Initiated at B. Riley

B. Riley assumed coverage on shares of HIVE Digital Technologies (NASDAQ:HIVE) in a report issued on Friday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $6.00 price objective on the stock.

HIVE has been the subject of a number of other research reports. HC Wainwright reaffirmed a neutral rating and set a $3.50 price target on shares of HIVE Digital Technologies in a research report on Wednesday, June 26th. Canaccord Genuity Group restated a buy rating and issued a $6.00 price objective on shares of HIVE Digital Technologies in a research note on Wednesday, June 26th. Finally, StockNews.com upgraded HIVE Digital Technologies to a sell rating in a research report on Sunday, June 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Hold and a consensus price target of $5.38.

HIVE Digital Technologies Stock Performance

Shares of HIVE Digital Technologies stock opened at $4.15 on Friday. The company has a 50 day moving average price of $3.02 and a 200 day moving average price of $3.21. The firm has a market capitalization of $488.52 million, a P/E ratio of -7.03 and a beta of 3.51. The company has a quick ratio of 6.77, a current ratio of 6.77 and a debt-to-equity ratio of 0.07. HIVE Digital Technologies has a 52 week low of $2.18 and a 52 week high of $5.98.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its quarterly earnings results on Monday, June 24th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.10. HIVE Digital Technologies had a negative net margin of 44.73% and a negative return on equity of 28.52%. The business had revenue of $36.88 million during the quarter, compared to analysts’ expectations of $39.70 million. Sell-side analysts expect that HIVE Digital Technologies will post -0.39 EPS for the current year.

Institutional Investors Weigh In On HIVE Digital Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HIVE. Vident Advisory LLC lifted its holdings in shares of HIVE Digital Technologies by 78.6% in the 1st quarter. Vident Advisory LLC now owns 1,737,308 shares of the company’s stock valued at $5,856,000 after buying an additional 764,387 shares during the period. MMCAP International Inc. SPC purchased a new position in HIVE Digital Technologies during the first quarter valued at approximately $11,227,000. Van ECK Associates Corp raised its position in HIVE Digital Technologies by 56.0% during the first quarter. Van ECK Associates Corp now owns 2,876,374 shares of the company’s stock valued at $9,693,000 after acquiring an additional 1,032,672 shares in the last quarter. Sloy Dahl & Holst LLC acquired a new position in HIVE Digital Technologies in the first quarter valued at approximately $41,000. Finally, Quadrature Capital Ltd purchased a new stake in HIVE Digital Technologies in the 4th quarter worth approximately $458,000. 24.42% of the stock is owned by institutional investors and hedge funds.

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.