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

HIVE Digital Technologies (NASDAQ:HIVE) had its price target raised by Cantor Fitzgerald from $3.00 to $4.60 in a note issued to investors on Tuesday, Marketbeat.com reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 37.11% from the company’s current price.

Other research analysts have also issued research reports about the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $10.00 price target on shares of HIVE Digital Technologies in a research report on Friday, April 24th. 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 research report on Tuesday, January 27th. B. Riley Financial dropped their price target on shares of HIVE Digital Technologies from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Friday, February 13th. New Street Research set a $5.00 price target on shares of HIVE Digital Technologies in a research report on Thursday, February 19th. Finally, HC Wainwright reissued a “buy” rating on shares of HIVE Digital Technologies in a research report on Tuesday, February 17th. Six equities research 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 MarketBeat, HIVE Digital Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $6.34.

HIVE Digital Technologies Stock Down 3.0%

NASDAQ HIVE traded down $0.11 during trading on Tuesday, hitting $3.36. 44,248,845 shares of the company traded hands, compared to its average volume of 14,302,822. HIVE Digital Technologies has a 12 month low of $1.60 and a 12 month high of $7.84. The business has a fifty day simple moving average of $2.31 and a 200 day simple moving average of $2.81. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $887.22 million, a P/E ratio of -5.56 and a beta of 3.50.

Institutional Investors Weigh In On HIVE Digital Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in HIVE. Two Sigma Investments LP bought a new position in shares of HIVE Digital Technologies in the 3rd quarter valued at about $17,584,000. Renaissance Technologies LLC bought a new position in shares of HIVE Digital Technologies in the 4th quarter valued at about $10,914,000. Situational Awareness LP bought a new position in shares of HIVE Digital Technologies in the 1st quarter valued at about $6,444,000. Millennium Management LLC grew its position in shares of HIVE Digital Technologies by 58.1% in the 4th quarter. Millennium Management LLC now owns 6,900,828 shares of the company’s stock valued at $17,804,000 after acquiring an additional 2,536,135 shares during the period. Finally, Vident Advisory LLC grew its position in shares of HIVE Digital Technologies by 53.0% in the 2nd quarter. Vident Advisory LLC now owns 3,766,446 shares of the company’s stock valued at $6,780,000 after acquiring an additional 1,305,057 shares during the period. 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.