Northland Capmk Upgrades HIVE Digital Technologies (NASDAQ:HIVE) to Strong-Buy

Northland Capmk upgraded shares of HIVE Digital Technologies (NASDAQ:HIVE) to a strong-buy rating in a research report sent to investors on Thursday morning, Zacks.com reports.

HIVE has been the subject of several other reports. Northland Securities started coverage on shares of HIVE Digital Technologies in a research note on Thursday. They issued an outperform rating and a $5.50 target price for the company. B. Riley initiated coverage on shares of HIVE Digital Technologies in a research note on Friday, July 19th. They issued a buy rating and a $6.00 target price for the company. HC Wainwright upgraded shares of HIVE Digital Technologies from a neutral rating to a buy rating and lifted their price objective for the stock from $4.00 to $5.00 in a research note on Thursday, August 15th. Canaccord Genuity Group reiterated a buy rating and set a $6.00 price objective on shares of HIVE Digital Technologies in a research note on Wednesday, August 21st. Finally, StockNews.com upgraded shares of HIVE Digital Technologies to a sell rating in a research report on Sunday, June 9th. One analyst has rated the stock with a sell rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $5.70.

HIVE Digital Technologies Stock Performance

Shares of NASDAQ:HIVE opened at $3.11 on Thursday. The firm has a market cap of $366.10 million, a PE ratio of -5.27 and a beta of 3.48. The firm’s 50 day simple moving average is $3.25 and its 200-day simple moving average is $3.05. HIVE Digital Technologies has a one year low of $2.18 and a one year high of $5.74. The company has a debt-to-equity ratio of 0.06, a quick ratio of 7.35 and a current ratio of 7.35.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.08). The company had revenue of $32.24 million for the quarter, compared to analyst estimates of $31.85 million. HIVE Digital Technologies had a negative net margin of 25.74% and a negative return on equity of 20.88%. As a group, equities analysts predict that HIVE Digital Technologies will post -0.28 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HIVE. Chesapeake Capital Corp IL purchased a new stake in shares of HIVE Digital Technologies during the fourth quarter worth about $92,000. Scotia Capital Inc. acquired a new position in HIVE Digital Technologies during the fourth quarter worth about $64,000. Quadrature Capital Ltd acquired a new position in HIVE Digital Technologies during the fourth quarter worth about $458,000. Sloy Dahl & Holst LLC acquired a new position in HIVE Digital Technologies during the first quarter worth about $41,000. Finally, Van ECK Associates Corp boosted 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 worth $9,693,000 after acquiring an additional 1,032,672 shares during the last quarter. Hedge funds and other institutional investors 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.