HIVE Digital Technologies (NASDAQ:HIVE) Trading 8.2% Higher Following Analyst Upgrade

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) traded up 8.2% on Thursday after Rosenblatt Securities raised their price target on the stock from $5.50 to $6.00. Rosenblatt Securities currently has a buy rating on the stock. HIVE Digital Technologies traded as high as $3.05 and last traded at $3.0520. 11,008,479 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 19,367,652 shares. The stock had previously closed at $2.82.

Several other equities research analysts have also commented on the stock. Cantor Fitzgerald set a $7.00 price target on shares of HIVE Digital Technologies in a research report on Thursday, June 4th. Chardan Capital restated a “buy” rating and set a $7.50 target price on shares of HIVE Digital Technologies in a research report on Monday. Keefe, Bruyette & Woods upped their target price on shares of HIVE Digital Technologies from $3.00 to $5.00 and gave the company a “market perform” rating in a report on Friday, June 5th. Weiss Ratings upgraded shares of HIVE Digital Technologies from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, August 14th. Finally, Wall Street Zen cut shares of HIVE Digital Technologies from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 12th. Seven 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $7.00.

Insider Transactions at HIVE Digital Technologies

In other news, COO Luke Rossy sold 215,000 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $3.97, for a total transaction of $853,550.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Susan B. Mcgee sold 125,000 shares of HIVE Digital Technologies stock in a transaction on Friday, June 19th. The shares were sold at an average price of $4.25, for a total transaction of $531,250.00. Following the transaction, the director owned 125,000 shares in the company, valued at approximately $531,250. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 781,700 shares of company stock valued at $3,209,876 over the last three months. Corporate insiders own 9.44% of the company’s stock.

Key Headlines Impacting HIVE Digital Technologies

Here are the key news stories impacting HIVE Digital Technologies this week:

• Positive Sentiment: Analysts raised forward earnings estimates. Northland Securities improved its FY2027 EPS forecast to a loss of $0.58 from $0.72 and raised estimates for the second, third and fourth quarters. HC Wainwright also raised its quarterly forecasts and projects a smaller FY2028 loss of $0.23 per share.
• Positive Sentiment: AI cloud ambitions are strengthening HIVE’s growth story. The company is ramping a five-year GPU cloud contract expected to generate roughly $70 million in annual recurring revenue and is targeting $200 million of ARR. HIVE plans to use cash flow from Bitcoin mining to fund AI and high-performance-computing expansion. HIVE Q1 Earnings Call Focuses on GPU Cloud Contract Ramp
• Positive Sentiment: Analyst sentiment remains favorable. HC Wainwright maintained a Buy rating and $7 price target, while Canaccord Genuity reiterated its Buy rating with a $10 target. The overall analyst consensus is “Moderate Buy,” with an average target near $6.95. Canaccord Genuity Group Reiterates Buy Rating
• Neutral Sentiment: The approximately $350 million AI cloud opportunity remains execution-dependent. Investors are reassessing HIVE’s identity as it expands beyond cryptocurrency mining, but the valuation depends on deploying capacity and converting the agreement into recurring revenue. Will New US$350 Million AI Cloud Deal Change HIVE’s Narrative?
• Negative Sentiment: Director Dave Perrill sold 100,000 shares for approximately $272,000 at an average price of $2.72. The transaction may weigh on sentiment, particularly because he also sold 175,000 shares in June.
• Negative Sentiment: Recent operating results remain weak. HIVE reported a quarterly loss of $0.54 per share, substantially worse than the $0.21 consensus estimate, while revenue of $79.1 million missed expectations of $81.7 million. Analysts still expect a loss for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Two Sigma Investments LP bought a new position in HIVE Digital Technologies in the 3rd quarter worth approximately $17,584,000. Renaissance Technologies LLC bought a new stake in shares of HIVE Digital Technologies during the fourth quarter valued at approximately $10,914,000. Situational Awareness LP bought a new stake in shares of HIVE Digital Technologies during the first quarter valued at approximately $6,444,000. Millennium Management LLC lifted its holdings in shares of HIVE Digital Technologies by 58.1% in the fourth quarter. Millennium Management LLC now owns 6,900,828 shares of the company’s stock worth $17,804,000 after buying an additional 2,536,135 shares in the last quarter. Finally, Vident Advisory LLC lifted its holdings in shares of HIVE Digital Technologies by 53.0% in the second quarter. Vident Advisory LLC now owns 3,766,446 shares of the company’s stock worth $6,780,000 after buying an additional 1,305,057 shares in the last quarter. 24.42% of the stock is owned by hedge funds and other institutional investors.

HIVE Digital Technologies Trading Up 8.3%

The company has a debt-to-equity ratio of 0.85, a current ratio of 1.96 and a quick ratio of 1.10. The stock’s 50-day moving average is $3.29 and its two-hundred day moving average is $2.86. The stock has a market cap of $837.93 million, a P/E ratio of -2.36 and a beta of 3.78.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.33). HIVE Digital Technologies had a negative net margin of 98.49% and a negative return on equity of 31.98%. The company had revenue of $79.12 million during the quarter, compared to the consensus estimate of $81.72 million. During the same quarter in the prior year, the firm posted $0.18 earnings per share. Equities research analysts anticipate that HIVE Digital Technologies Ltd. will post -0.78 EPS for the current year.

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.