HIVE Digital Technologies Ltd. (NASDAQ:HIVE) stock is trading lower Wednesday as investors took profits following the stock’s strong multi-month rally, even as analysts remained bullish on the company’s long-term growth prospects.
The Nasdaq Composite was down 0.32%, while the S&P 500 declined 0.58%.
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Analyst Stays Bullish On HIVE Digital
H.C. Wainwright reiterated its Buy rating and maintained a $7 price forecast on HIVE in a research note released Wednesday, urging investors to look beyond the company’s fiscal fourth-quarter earnings miss and focus on its expanding artificial intelligence infrastructure business.
