HIVE Digital Technologies (NASDAQ:HIVE) Stock Gets Price Target Cut from Canaccord Genuity Group

HIVE Digital Technologies (NASDAQ:HIVE) had its price objective cut by Canaccord Genuity Group from $10.00 to $6.00 in a research report released on Thursday,Benzinga reports. They currently have a buy rating on the stock.

HIVE has been the subject of a number of other research reports. HC Wainwright lowered their target price on HIVE Digital Technologies from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Wednesday. B. Riley Financial dropped their price objective on HIVE Digital Technologies from $8.00 to $5.00 and set a “buy” rating for the company in a research note on Wednesday. Weiss Ratings upgraded shares of HIVE Digital Technologies from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, August 14th. Rosenblatt Securities decreased their target price on shares of HIVE Digital Technologies from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Chardan Capital lowered their price target on shares of HIVE Digital Technologies from $7.50 to $7.00 and set a “buy” rating for the company in a report on Tuesday, November 10th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.90.

HIVE Digital Technologies Stock Performance

NASDAQ:HIVE traded down $0.08 on Thursday, reaching $1.57. 9,935,818 shares of the company’s stock were exchanged, compared to its average volume of 11,536,388. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.55 and a quick ratio of 1.96. The firm has a market cap of $434.45 million, a price-to-earnings ratio of -1.04 and a beta of 3.76. HIVE Digital Technologies has a 52 week low of $1.51 and a 52 week high of $5.34. The stock has a fifty day simple moving average of $2.49 and a 200-day simple moving average of $2.76.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its earnings results on Monday, November 9th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.13). HIVE Digital Technologies had a negative net margin of 118.13% and a negative return on equity of 43.76%. The business had revenue of $84.88 million for the quarter, compared to the consensus estimate of $79.44 million. As a group, sell-side analysts predict that HIVE Digital Technologies will post -0.66 earnings per share for the current year.

Insider Buying and Selling at HIVE Digital Technologies

In other news, Director Dave Perrill sold 12,500 shares of HIVE Digital Technologies stock in a transaction dated Wednesday, October 7th. The shares were sold at an average price of $2.75, for a total transaction of $34,375.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 9.44% of the company’s stock.

Institutional Trading of HIVE Digital Technologies

Several large investors have recently bought and sold shares of HIVE. Situational Awareness LP purchased a new stake in HIVE Digital Technologies in the first quarter worth $6,444,000. BTG Pactual Asset Management US LLC bought a new position in HIVE Digital Technologies in the second quarter worth $2,730,000. Acasta Partners UK LLP purchased a new position in HIVE Digital Technologies during the second quarter valued at $3,640,000. Empowered Funds LLC purchased a new position in HIVE Digital Technologies during the first quarter valued at $1,934,000. Finally, Engineers Gate Manager LP purchased a new position in HIVE Digital Technologies during the second quarter valued at $628,000. 24.42% of the stock is owned by institutional investors.

HIVE Digital Technologies News Roundup

These are some of the HIVE news items that stood out recently:

• Positive Sentiment: HIVE announced a Bell GPU deal valued at $225 million over three years, or about $75 million annually, adding contracted revenue tied to its AI-computing business. Article: HIVE Digital Technologies lands $225 million Bell GPU deal worth $75 million a year
• Negative Sentiment: HC Wainwright lowered EPS estimates across multiple quarters through FY2028, cutting its FY2028 forecast to a loss of $0.33 per share from $0.23. It maintained a Buy rating and $5 price target, but the downward revisions signal weaker expected profitability.
• Negative Sentiment: Canaccord cut its price target to $6 from $10, while Rosenblatt lowered its target to $5 from $6. Both firms retained Buy ratings, but the reduced targets may weigh on sentiment.

HIVE Digital Technologies Company Profile

HIVE Digital Technologies Ltd. is a digital infrastructure company focused on cryptocurrency mining and high-performance computing. Its operations include data centers that support Bitcoin mining, as well as computing services for applications such as artificial intelligence and other data-intensive workloads. Founded in 2017 as HIVE Blockchain Technologies, the company initially focused on mining digital assets, including Ethereum. It has since expanded its emphasis on Bitcoin mining and high-performance computing.