Brokerages Set HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Target Price at $7.64

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) has received a consensus recommendation of “Buy” from the ten analysts that are presently covering the company, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $7.64.

A number of analysts have commented on the stock. Cantor Fitzgerald cut their price objective on shares of HIVE Digital Technologies from $10.00 to $8.00 and set an “overweight” rating for the company in a report on Tuesday, March 11th. Rosenblatt Securities initiated coverage on shares of HIVE Digital Technologies in a report on Friday, March 7th. They set a “buy” rating and a $6.00 price target for the company. HC Wainwright restated a “buy” rating and set a $10.00 price target (up previously from $8.00) on shares of HIVE Digital Technologies in a report on Thursday, February 13th. Roth Capital upgraded shares of HIVE Digital Technologies to a “strong-buy” rating in a report on Wednesday, December 18th. Finally, Canaccord Genuity Group raised their price target on shares of HIVE Digital Technologies from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th.

HIVE Digital Technologies Stock Up 4.2 %

HIVE stock opened at $1.74 on Thursday. The company has a market cap of $275.08 million, a price-to-earnings ratio of -34.80 and a beta of 3.51. The company has a current ratio of 10.41, a quick ratio of 10.41 and a debt-to-equity ratio of 0.03. HIVE Digital Technologies has a 12 month low of $1.66 and a 12 month high of $5.54. The firm has a 50-day moving average of $2.64 and a two-hundred day moving average of $3.23.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.05. HIVE Digital Technologies had a negative net margin of 5.45% and a negative return on equity of 8.95%. As a group, analysts forecast that HIVE Digital Technologies will post -0.32 earnings per share for the current fiscal year.

Institutional Trading of HIVE Digital Technologies

Several institutional investors have recently added to or reduced their stakes in HIVE. Lifeworks Advisors LLC grew its stake in shares of HIVE Digital Technologies by 46.2% in the fourth quarter. Lifeworks Advisors LLC now owns 16,307 shares of the company’s stock worth $46,000 after acquiring an additional 5,152 shares in the last quarter. Impact Partnership Wealth LLC grew its stake in shares of HIVE Digital Technologies by 11.0% in the fourth quarter. Impact Partnership Wealth LLC now owns 53,231 shares of the company’s stock worth $152,000 after acquiring an additional 5,277 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of HIVE Digital Technologies by 60.9% in the fourth quarter. Wells Fargo & Company MN now owns 15,320 shares of the company’s stock worth $44,000 after acquiring an additional 5,800 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of HIVE Digital Technologies by 15.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,351 shares of the company’s stock worth $178,000 after acquiring an additional 8,158 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of HIVE Digital Technologies in the fourth quarter worth $26,000. 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.