Fintel reports that on December 19, 2024, Roth MKM initiated coverage of HIVE Digital Technologies (NasdaqCM:HIVE) with a Buy recommendation.
Analyst Price Forecast Suggests 55.49% Upside
As of December 3, 2024, the average one-year price target for HIVE Digital Technologies is $5.29/share. The forecasts range from a low of $4.79 to a high of $5.91. The average price target represents an increase of 55.49% from its latest reported closing price of $3.40 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for HIVE Digital Technologies is 105MM, a decrease of 14.45%. The projected annual non-GAAP EPS is -0.97.
What is the Fund Sentiment?
There are 108 funds or institutions reporting positions in HIVE Digital Technologies. This is an increase of 20 owner(s) or 22.73% in the last quarter. Average portfolio weight of all funds dedicated to HIVE is 0.27%, an increase of 13.81%. Total shares owned by institutions increased in the last three months by 0.91% to 38,168K shares. 
The put/call ratio of HIVE is 0.10, indicating a bullish outlook.
What are Other Shareholders Doing?
Toroso Investments holds 4,010K shares representing 3.03% ownership of the company. In its prior filing, the firm reported owning 4,276K shares , representing a decrease of 6.63%. The firm decreased its portfolio allocation in HIVE by 25.03% over the last quarter.
BLOK - Amplify Transformational Data Sharing ETF holds 4,002K shares representing 3.02% ownership of the company. In its prior filing, the firm reported owning 4,276K shares , representing a decrease of 6.85%. The firm decreased its portfolio allocation in HIVE by 3.94% over the last quarter.
Van Eck Associates holds 3,870K shares representing 2.92% ownership of the company. In its prior filing, the firm reported owning 3,895K shares , representing a decrease of 0.64%. The firm increased its portfolio allocation in HIVE by 3.48% over the last quarter.
KOMP - SPDR S&P Kensho New Economies Composite ETF holds 3,164K shares representing 2.39% ownership of the company. In its prior filing, the firm reported owning 3,121K shares , representing an increase of 1.37%. The firm decreased its portfolio allocation in HIVE by 4.62% over the last quarter.
MMCAP International Inc. SPC holds 2,493K shares representing 1.88% ownership of the company. In its prior filing, the firm reported owning 3,028K shares , representing a decrease of 21.47%. The firm decreased its portfolio allocation in HIVE by 16.32% over the last quarter.
HIVE Blockchain Technologies Background Information
(This description is provided by the company.)
HIVE Blockchain Technologies Ltd. went public in 2017 as the first cryptocurrency mining company with a green energy and ESG strategy. HIVE is a growth-oriented technology stock in the emergent blockchain industry. As a company whose shares trade on a major stock exchange, it is building a bridge between the digital currency and blockchain sector and traditional capital markets. HIVE owns state-of-the-art, green energy-powered data centre facilities in Canada, Sweden, and Iceland, where it sources only green energy to mine on the cloud and HODL both Ethereum and Bitcoin. Since the beginning of 2021, HIVE has held in secure storage the majority of its ETH and BTC coin mining rewards. The Company's shares provide investors with exposure to the operating margins of digital currency mining, as well as a portfolio of cryptocurrencies such as ETH and BTC. Because HIVE also owns hard assets such as data centers and advanced multi-use servers, the Company believes its shares offer investors an attractive way to gain exposure to the cryptocurrency space. HIVE traded over 2 billion shares in 2020.
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