Weiss Ratings Reiterates “Sell (D+)” Rating for HIVE Digital Technologies (NASDAQ:HIVE)

HIVE Digital Technologies (NASDAQ:HIVE)‘s stock had its “sell (d+)” rating reaffirmed by equities researchers at Weiss Ratings in a research note issued to investors on Friday,Weiss Ratings reports.

Other equities analysts have also recently issued reports about the company. Rosenblatt Securities increased their target price on HIVE Digital Technologies from $5.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Northland Securities set a $7.50 price objective on HIVE Digital Technologies in a research note on Tuesday, October 7th. B. Riley restated a “buy” rating on shares of HIVE Digital Technologies in a research note on Wednesday, October 22nd. Zacks Research raised shares of HIVE Digital Technologies to a “hold” rating in a report on Friday, August 8th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $10.00 price target on shares of HIVE Digital Technologies in a report on Monday, October 13th. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.00.

HIVE Digital Technologies Price Performance

Shares of HIVE Digital Technologies stock opened at $5.20 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.42 and a current ratio of 3.42. The firm’s 50-day simple moving average is $4.44 and its 200-day simple moving average is $2.85. HIVE Digital Technologies has a twelve month low of $1.26 and a twelve month high of $7.84. The firm has a market cap of $1.24 billion, a P/E ratio of -26.00 and a beta of 3.51.

HIVE Digital Technologies (NASDAQ:HIVE) last posted 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. The firm had revenue of $45.61 million during the quarter, compared to analyst estimates of $45.16 million. HIVE Digital Technologies had a negative net margin of 17.47% and a negative return on equity of 17.39%. As a group, research analysts expect that HIVE Digital Technologies will post -0.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in HIVE. Vident Advisory LLC grew its holdings in HIVE Digital Technologies by 53.0% during the 2nd quarter. Vident Advisory LLC now owns 3,766,446 shares of the company’s stock worth $6,780,000 after acquiring an additional 1,305,057 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of HIVE Digital Technologies by 104.2% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,793,562 shares of the company’s stock worth $3,233,000 after purchasing an additional 915,105 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of HIVE Digital Technologies by 87.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,383,446 shares of the company’s stock valued at $2,006,000 after purchasing an additional 647,159 shares during the last quarter. Voya Investment Management LLC bought a new stake in shares of HIVE Digital Technologies during the third quarter valued at approximately $1,672,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of HIVE Digital Technologies by 328.2% in the first quarter. Goldman Sachs Group Inc. now owns 520,877 shares of the company’s stock valued at $755,000 after purchasing an additional 399,223 shares in 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.