Hive Digital Stock Slumps 53%, Analysts Forecast $10 Rebound
Hive Digital stock, listed on NASDAQ as HIVE, has slumped 53% from its October peak of $7.82 to $3.50 amid a broader Bitcoin pullback. The decline mirrors losses in AI data center peers such as CoreWeave, IREN, Bitfarms and Nebius. Rosenblatt analysts reaffirm a Buy rating with a $10 price target based on Q2 revenue of $87 million—$82 million from Bitcoin mining and $5.7 million from AI services—and a 12× FY27 adjusted EBITDA multiple. H.C. Wainwright raised its price target to $10 from $8, citing management’s plan to deploy 11,000 GPUs by year-end and generate $140 million in annualized AI cloud revenue. Technically, the stock forms a cup-and-handle pattern with support at the 200-day moving average and a measured rebound target near $9.80. Traders may view the pullback as a buying opportunity for a potential bullish bounce.
Bullish
The sharp 53% decline in Hive Digital stock, driven by a broader Bitcoin pullback, has pushed shares to a level many analysts consider oversold. Historical patterns in crypto-mining stocks show that significant retreats often precede pronounced rebounds when Bitcoin stabilizes or resumes its uptrend. Rosenblatt’s reiteration of a Buy rating and H.C. Wainwright’s price target raise investor confidence, especially given the company’s diversified revenue mix—82% from mining and growing AI services. The planned deployment of 11,000 GPUs and projected $140 million in annualized AI cloud revenue provide a clear growth catalyst. Additionally, the stock’s cup-and-handle technical setup and support at the 200-day moving average suggest a foundation for a bullish bounce toward the $9.80–$10 range. In both short and long term, these factors point to a potential buying opportunity, making the overall impact of this news bullish for traders seeking to enter or add to positions.