HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Given Consensus Rating of “Buy” by Brokerages

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) has been assigned an average recommendation of “Buy” from the eight brokerages that are currently covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $7.42.

HIVE has been the subject of several recent analyst reports. Northland Securities raised their target price on 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 reaffirmed an “overweight” rating and set a $9.00 target price on shares of HIVE Digital Technologies in a research note on Tuesday, November 19th. HC Wainwright reissued a “buy” rating and issued a $8.00 price target on shares of HIVE Digital Technologies in a research report on Tuesday, December 3rd. Roth Mkm initiated coverage on shares of HIVE Digital Technologies in a research note on Thursday, December 19th. They issued a “buy” rating and a $7.50 price objective on the stock. Finally, Roth Capital upgraded shares of HIVE Digital Technologies to a “strong-buy” rating in a research note on Wednesday, December 18th.

HIVE Digital Technologies Trading Down 2.0 %

Shares of HIVE opened at $2.97 on Friday. The company has a current ratio of 5.56, a quick ratio of 5.56 and a debt-to-equity ratio of 0.06. HIVE Digital Technologies has a 1-year low of $2.18 and a 1-year high of $5.66. The stock has a market capitalization of $407.78 million, a P/E ratio of -21.21 and a beta of 3.39. The business’s 50-day moving average price is $3.93 and its 200 day moving average price is $3.47.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share (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 business had revenue of $22.65 million for the quarter, compared to analyst estimates of $25.32 million. During the same quarter in the previous year, the business earned ($0.29) earnings per share. Analysts expect that HIVE Digital Technologies will post -0.33 earnings per share for the current year.

Institutional Investors Weigh In On HIVE Digital Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Lifeworks Advisors LLC acquired a new stake in shares of HIVE Digital Technologies in the third quarter worth about $35,000. Vanguard Personalized Indexing Management LLC bought a new stake in HIVE Digital Technologies during the second quarter valued at about $36,000. Gladstone Institutional Advisory LLC bought a new position in shares of HIVE Digital Technologies in the third quarter worth about $44,000. Quadrature Capital Ltd bought a new stake in HIVE Digital Technologies during the 3rd quarter valued at approximately $50,000. Finally, Impact Partnership Wealth LLC grew its holdings in HIVE Digital Technologies by 202.4% in the 2nd quarter. Impact Partnership Wealth LLC now owns 48,945 shares of the company’s stock valued at $151,000 after buying an additional 32,760 shares during the last quarter. Institutional investors and hedge funds own 24.42% of the company’s stock.

HIVE Digital Technologies Company Profile

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.