HIVE Digital Technologies Ltd (HIVE) saw its shares plummet 8.87% in pre-market trading on Friday, following a price target cut by investment firm B. Riley. The sharp decline comes as investors react to B. Riley's decision to lower its price target on HIVE from $8 to $7, although the firm maintained its Buy rating on the stock.

The reduction in price target appears to have triggered a significant sell-off among investors, despite B. Riley's continued bullish stance on the company. This adjustment might indicate that the investment firm foresees some near-term challenges for HIVE, even as it remains optimistic about the company's long-term prospects.

Despite the pre-market tumble, it's worth noting that the overall analyst sentiment on HIVE Digital Technologies remains positive. According to data from FactSet, the average rating for HIVE is a Buy, with a mean price target of $8.88. This target still suggests substantial upside potential from the stock's current trading levels, even after accounting for B. Riley's lowered expectations. As the regular trading session begins, investors will likely be closely monitoring the stock's performance and watching for any potential revisions from other analysts.