HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Receives $7.64 Average PT from Brokerages

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) have been given an average rating of “Buy” by the ten brokerages that are presently covering the stock, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a buy rating and two have issued a strong buy rating on 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.

Several research firms have commented on HIVE. Canaccord Genuity Group restated a “buy” rating and issued a $9.00 price target on shares of HIVE Digital Technologies in a report on Wednesday, March 26th. HC Wainwright restated a “buy” rating and issued a $10.00 target price (up from $8.00) on shares of HIVE Digital Technologies in a report on Thursday, February 13th. Rosenblatt Securities initiated coverage on shares of HIVE Digital Technologies in a research note on Friday, March 7th. They set a “buy” rating and a $6.00 price target on the stock. Cantor Fitzgerald lowered 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 research note on Tuesday, March 11th. Finally, StockNews.com upgraded HIVE Digital Technologies to a “sell” rating in a report on Tuesday, January 14th.

HIVE Digital Technologies Stock Up 16.0 %

Shares of NASDAQ HIVE opened at $1.52 on Monday. The firm’s 50 day moving average price is $2.05 and its 200 day moving average price is $3.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.41 and a current ratio of 10.41. The firm has a market cap of $250.18 million, a P/E ratio of -30.40 and a beta of 3.55. HIVE Digital Technologies has a 1 year low of $1.26 and a 1 year high of $5.54.

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

Hedge Funds Weigh In On HIVE Digital Technologies

A number of hedge funds have recently made changes to their positions in the business. Lifeworks Advisors LLC increased its holdings in HIVE Digital Technologies by 46.2% in the 4th quarter. Lifeworks Advisors LLC now owns 16,307 shares of the company’s stock valued at $46,000 after purchasing an additional 5,152 shares in the last quarter. Impact Partnership Wealth LLC lifted its stake in shares of HIVE Digital Technologies by 11.0% during the fourth quarter. Impact Partnership Wealth LLC now owns 53,231 shares of the company’s stock worth $152,000 after purchasing an additional 5,277 shares in the last quarter. Wells Fargo & Company MN boosted its position 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 buying an additional 5,800 shares during the period. 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 valued at $178,000 after buying an additional 8,158 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of HIVE Digital Technologies during the 4th quarter valued at about $26,000. Hedge funds and other institutional investors 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.