HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Receives $7.40 Average Price Target from Brokerages

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

Several brokerages have commented on HIVE. StockNews.com raised shares of HIVE Digital Technologies to a “sell” rating in a research note on Tuesday. Northland Securities upped their price target on shares of HIVE Digital Technologies from $5.50 to $7.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Cantor Fitzgerald reissued an “overweight” rating and issued a $9.00 price objective on shares of HIVE Digital Technologies in a research report on Tuesday, November 19th. HC Wainwright reiterated a “buy” rating and set a $8.00 price objective on shares of HIVE Digital Technologies in a research note on Tuesday. Finally, Northland Capmk upgraded shares of HIVE Digital Technologies to a “strong-buy” rating in a research note on Thursday, September 19th.

HIVE Digital Technologies Trading Down 5.5 %

Shares of NASDAQ:HIVE opened at $4.10 on Tuesday. The firm has a market capitalization of $536.57 million, a P/E ratio of -29.28 and a beta of 3.39. The firm has a fifty day moving average of $3.81 and a two-hundred day moving average of $3.37. The company has a quick ratio of 5.56, a current ratio of 5.56 and a debt-to-equity ratio of 0.06. HIVE Digital Technologies has a 12-month low of $2.18 and a 12-month high of $5.74.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. HIVE Digital Technologies had a negative net margin of 12.04% and a negative return on equity of 10.78%. The firm had revenue of $22.65 million for the quarter, compared to analyst estimates of $25.32 million. During the same period in the previous year, the business earned ($0.29) earnings per share. On average, equities analysts expect that HIVE Digital Technologies will post -0.31 EPS for the current fiscal year.

Institutional Trading of HIVE Digital Technologies

Hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp grew its position in 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 valued at $11,995,000 after purchasing an additional 1,018,231 shares during the period. XTX Topco Ltd acquired a new stake in HIVE Digital Technologies in the 3rd quarter valued at $463,000. Charles Schwab Investment Management Inc. boosted its holdings in HIVE Digital Technologies by 48.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 325,216 shares of the company’s stock worth $1,018,000 after acquiring an additional 106,103 shares during the last quarter. State Street Corp boosted its holdings in HIVE Digital Technologies by 2.9% during the 3rd quarter. State Street Corp now owns 3,214,101 shares of the company’s stock worth $10,060,000 after acquiring an additional 91,056 shares during the last quarter. Finally, Centiva Capital LP purchased a new position in shares of HIVE Digital Technologies in the 3rd quarter worth about $235,000. Institutional investors own 24.42% of the company’s stock.

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.