HIVE Digital Technologies (NASDAQ:HIVE) Price Target Cut to $4.50 by Analysts at Rosenblatt Securities

HIVE Digital Technologies (NASDAQ:HIVE) had its price objective lowered by stock analysts at Rosenblatt Securities from $6.50 to $4.50 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Rosenblatt Securities’ target price suggests a potential upside of 112.26% from the company’s current price.

HIVE has been the subject of several other reports. HC Wainwright reaffirmed a “buy” rating on shares of HIVE Digital Technologies in a research note on Tuesday. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $3.50 price target (down from $11.00) on shares of HIVE Digital Technologies in a research note on Tuesday, January 27th. Wall Street Zen cut HIVE Digital Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Canaccord Genuity Group restated a “buy” rating and set a $10.00 price objective on shares of HIVE Digital Technologies in a report on Friday, November 21st. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of HIVE Digital Technologies in a report on Wednesday, January 28th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $6.81.

HIVE Digital Technologies Price Performance

Shares of HIVE opened at $2.12 on Wednesday. The firm has a market cap of $531.95 million, a PE ratio of -10.10 and a beta of 3.58. HIVE Digital Technologies has a 52-week low of $1.26 and a 52-week high of $7.84. The business’s 50 day moving average price is $2.82 and its two-hundred day moving average price is $3.49. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.55 and a current ratio of 2.55.

Institutional Investors Weigh In On HIVE Digital Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC bought a new stake in HIVE Digital Technologies during the second quarter worth $139,000. Voya Investment Management LLC bought a new position in HIVE Digital Technologies in the 3rd quarter valued at $1,672,000. Tobam increased its position in shares of HIVE Digital Technologies by 428.0% during the 2nd quarter. Tobam now owns 65,234 shares of the company’s stock valued at $117,000 after purchasing an additional 52,880 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of HIVE Digital Technologies by 79.6% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 124,450 shares of the company’s stock worth $224,000 after buying an additional 55,141 shares during the last quarter. Finally, Harvest Portfolios Group Inc. boosted its holdings in shares of HIVE Digital Technologies by 38.0% in the 2nd quarter. Harvest Portfolios Group Inc. now owns 64,725 shares of the company’s stock worth $117,000 after buying an additional 17,821 shares during the last quarter. 24.42% of the stock is owned by institutional investors.

About HIVE Digital Technologies

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.