HIVE Digital Technologies (NASDAQ:HIVE) Given New $4.60 Price Target at Cantor Fitzgerald

HIVE Digital Technologies (NASDAQ:HIVE) had its price objective boosted by investment analysts at Cantor Fitzgerald from $3.00 to $4.60 in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 37.11% from the stock’s current price.

Several other analysts have also recently weighed in on the stock. Rosenblatt Securities dropped their price objective on shares of HIVE Digital Technologies from $6.50 to $4.50 and set a “buy” rating for the company in a research note on Wednesday, February 18th. B. Riley Financial decreased their price objective on shares of HIVE Digital Technologies from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Canaccord Genuity Group restated a “buy” rating and set a $10.00 price objective on shares of HIVE Digital Technologies in a research report on Friday, April 24th. Weiss Ratings restated a “sell (d)” rating on shares of HIVE Digital Technologies in a research report on Monday, May 11th. Finally, HC Wainwright restated a “buy” rating on shares of HIVE Digital Technologies in a research report on Tuesday, February 17th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $6.34.

HIVE Digital Technologies Stock Performance

HIVE Digital Technologies stock traded down $0.11 during midday trading on Tuesday, hitting $3.36. The company’s stock had a trading volume of 44,248,845 shares, compared to its average volume of 14,302,822. HIVE Digital Technologies has a 1-year low of $1.60 and a 1-year high of $7.84. 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 50-day moving average price of $2.31 and a two-hundred day moving average price of $2.81. The company has a market cap of $887.22 million, a price-to-earnings ratio of -5.56 and a beta of 3.50.

Hedge Funds Weigh In On HIVE Digital Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC increased its position in shares of HIVE Digital Technologies by 1,885.8% during the fourth 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 period. Ground Swell Capital LLC acquired a new stake in shares of HIVE Digital Technologies during the fourth quarter worth $27,000. Rafferty Asset Management LLC acquired a new stake in shares of HIVE Digital Technologies during the fourth quarter worth $28,000. State of Wyoming acquired a new stake in shares of HIVE Digital Technologies during the fourth quarter worth $28,000. Finally, PKS Advisory Services LLC acquired a new stake in shares of HIVE Digital Technologies during the third quarter worth $44,000. 24.42% of the stock is currently owned by institutional investors and hedge funds.

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.