HIVE Digital Narrows Losses; Analysts Raise Price Target to $7

HIVE Digital Technologies significantly reduced its losses, reporting a net loss of $7.3 million, an improvement from the $22.9 million loss the previous year. The company generated revenue of $22.6 million, with a substantial portion driven by diversified high-performance computing services.

Analysts raised HIVE’s stock price target to $7, signaling optimism about the company’s future growth. Firms Canaccord and H.C. Wainwright highlighted the expected increase in mining capacity and potential major AI deals.

HIVE continues to invest in infrastructure development and expansion of its blockchain and AI services, contributing to improved financial results.