Cantor Fitzgerald Has Lowered Expectations for HIVE Digital Technologies (NASDAQ:HIVE) Stock Price

HIVE Digital Technologies (NASDAQ:HIVE) had its target price reduced by investment analysts at Cantor Fitzgerald from $5.00 to $3.00 in a report released on Thursday, Marketbeat.com reports. The firm currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 44.23% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of HIVE Digital Technologies in a report on Wednesday, January 28th. Northland Securities set a $6.00 price objective on shares of HIVE Digital Technologies in a report on Wednesday, February 18th. New Street Research set a $5.00 price objective on shares of HIVE Digital Technologies in a report on Thursday, February 19th. Rosenblatt Securities cut their price objective on shares of HIVE Digital Technologies from $6.50 to $4.50 and set a “buy” rating on the stock in a report on Wednesday, February 18th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $3.50 price target (down from $11.00) on shares of HIVE Digital Technologies in a report on Tuesday, January 27th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $6.17.

HIVE Digital Technologies Price Performance

HIVE opened at $2.08 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.74 and a quick ratio of 1.74. The company has a market capitalization of $541.92 million, a price-to-earnings ratio of -3.47 and a beta of 3.56. The firm’s fifty day moving average price is $2.12 and its two-hundred day moving average price is $3.29. HIVE Digital Technologies has a 1 year low of $1.40 and a 1 year high of $7.84.

Hedge Funds Weigh In On HIVE Digital Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC boosted its holdings in shares of HIVE Digital Technologies by 1,885.8% in the 4th quarter. NewEdge Advisors LLC now owns 9,929 shares of the company’s stock worth $26,000 after buying an additional 9,429 shares during the last quarter. WMG Financial Advisors LLC purchased a new position in shares of HIVE Digital Technologies in the 3rd quarter worth about $40,000. HBW Advisory Services LLC purchased a new position in shares of HIVE Digital Technologies in the 3rd quarter worth about $40,000. Ground Swell Capital LLC purchased a new position in shares of HIVE Digital Technologies in the 4th quarter worth about $27,000. Finally, Rafferty Asset Management LLC purchased a new position in shares of HIVE Digital Technologies in the 4th quarter worth about $28,000. 24.42% of the stock is owned by hedge funds and other institutional investors.

HIVE Digital Technologies Company Profile

HIVE Digital Technologies Ltd is a publicly traded blockchain infrastructure company that specializes in the mining of digital assets such as Bitcoin and Ethereum. Using high-performance GPU and ASIC hardware, HIVE deploys proprietary mining rigs across multiple data centers to validate transactions on major blockchain networks. The company’s operations are designed to maximize hashing power while maintaining efficiency and uptime, enabling it to build and hold a portfolio of mined cryptocurrencies.

Headquartered in Vancouver, British Columbia, HIVE Digital operates data center facilities in North America and Europe, including Canada, Sweden and Iceland.