HIVE Should I Buy
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HIVE Digital Technologies Ltd is not a strong buy at the moment for a beginner investor with a long-term strategy. While the company has potential in its AI and HPC segments, its financial performance is weak, and technical indicators do not suggest a strong entry point. Additionally, the lack of significant trading sentiment or recent news catalysts further supports a hold recommendation.
The MACD is slightly positive but contracting, indicating weakening momentum. RSI is neutral at 48.5, and moving averages are bearish (SMA_200 > SMA_20 > SMA_5). The stock is trading near its pivot level of 2.194, with resistance at 2.322 and support at 2.066. Overall, the technical indicators do not suggest a strong upward trend.
The company's expansion into high-performance computing (HPC) and AI, including converting its New Brunswick data center into a 50MW Tier 3 HPC facility, shows potential for future growth. Analysts see potential catalysts in AI customer wins and the company's transition from a bitcoin miner to a digital infrastructure provider.
Gross margin also declined significantly to -27.15%. Analysts have lowered price targets, citing concerns about the company's scalability and profitability in bitcoin mining. Additionally, there is no recent news or significant trading activity from insiders or hedge funds.
In Q3 2026, revenue increased by 218.56% YoY to $93.11M, but net income dropped sharply to -$91.33M, and EPS fell to -$0.38. Gross margin also declined significantly to -27.15%, reflecting operational inefficiencies.
Analysts maintain a generally positive outlook with multiple Buy ratings, but price targets have been lowered recently (e.g., from $6 to $4.50 by Rosenblatt, and from $7.50 to $6 by Northland). Some analysts highlight the company's undervaluation and potential in AI and HPC, while others express concerns about its bitcoin mining scalability and profitability.
