HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) have received an average rating of “Buy” from the six analysts that are currently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $7.40.

Several research firms have recently weighed in on HIVE. Cantor Fitzgerald started coverage on shares of HIVE Digital Technologies in a report on Tuesday, October 29th. They issued an “overweight” rating and a $9.00 target price on the stock. Canaccord Genuity Group raised their price objective on shares of HIVE Digital Technologies from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Thursday. Northland Capmk raised HIVE Digital Technologies to a “strong-buy” rating in a report on Thursday, September 19th. Northland Securities raised their price target on HIVE Digital Technologies from $5.50 to $7.00 and gave the company an “outperform” rating in a report on Thursday. Finally, HC Wainwright boosted their price objective on HIVE Digital Technologies from $5.00 to $8.00 and gave the stock a “buy” rating in a research note on Thursday.

Institutional Investors Weigh In On HIVE Digital Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. MMCAP International Inc. SPC acquired a new position in HIVE Digital Technologies in the first quarter valued at approximately $11,227,000. Vident Advisory LLC boosted its position in shares of HIVE Digital Technologies by 78.6% in the 1st quarter. Vident Advisory LLC now owns 1,737,308 shares of the company’s stock worth $5,856,000 after purchasing an additional 764,387 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of HIVE Digital Technologies by 35.4% in the 2nd quarter. Van ECK Associates Corp now owns 3,894,605 shares of the company’s stock worth $11,995,000 after purchasing an additional 1,018,231 shares during the last quarter. Impact Partnership Wealth LLC grew its stake in shares of HIVE Digital Technologies by 202.4% during the second quarter. Impact Partnership Wealth LLC now owns 48,945 shares of the company’s stock worth $151,000 after purchasing an additional 32,760 shares during the period. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in HIVE Digital Technologies in the second quarter valued at about $36,000. Institutional investors own 24.42% of the company’s stock.

HIVE Digital Technologies Stock Down 7.8 %

NASDAQ HIVE opened at $4.31 on Friday. HIVE Digital Technologies has a 1-year low of $2.18 and a 1-year high of $5.74. The company has a current ratio of 7.35, a quick ratio of 7.35 and a debt-to-equity ratio of 0.06. The stock’s 50 day moving average is $3.51 and its two-hundred day moving average is $3.20. The company has a market capitalization of $535.24 million, a price-to-earnings ratio of -30.75 and a beta of 3.43.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.08) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.08). The firm had revenue of $32.24 million for the quarter, compared to analysts’ expectations of $31.85 million. HIVE Digital Technologies had a negative return on equity of 11.25% and a negative net margin of 12.04%. Equities analysts forecast that HIVE Digital Technologies will post -0.28 earnings per share for the current fiscal year.

About HIVE Digital Technologies

HIVE Digital Technologies Ltd. operates as a cryptocurrency mining company in Canada, Sweden, and Iceland. The company engages in the mining and sale of digital currencies, including Ethereum Classic, Bitcoin, and other coins. It also operates data centers; and offers infrastructure solutions. The company was formerly known as HIVE Blockchain Technologies Ltd.