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

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) has received a consensus recommendation of “Buy” from the five analysts that are presently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a buy rating. The average 1 year price target among brokerages that have covered the stock in the last year is $5.70.

A number of equities research analysts have weighed in on HIVE shares. B. Riley started coverage on shares of HIVE Digital Technologies in a report on Friday, July 19th. They set a “buy” rating and a $6.00 target price on the stock. StockNews.com raised shares of HIVE Digital Technologies to a “sell” rating in a research note on Sunday, June 9th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $6.00 price objective on shares of HIVE Digital Technologies in a research note on Wednesday, August 21st. HC Wainwright raised shares of HIVE Digital Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the company from $4.00 to $5.00 in a research note on Thursday, August 15th. Finally, Northland Securities initiated coverage on shares of HIVE Digital Technologies in a research note on Thursday. They issued an “outperform” rating and a $5.50 price objective on the stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of HIVE. MMCAP International Inc. SPC acquired a new position in HIVE Digital Technologies during the first quarter worth $11,227,000. Van ECK Associates Corp raised its holdings in HIVE Digital Technologies by 56.0% during the first quarter. Van ECK Associates Corp now owns 2,876,374 shares of the company’s stock worth $9,693,000 after buying an additional 1,032,672 shares during the last quarter. Vident Advisory LLC raised its holdings in HIVE Digital Technologies by 78.6% during the first quarter. Vident Advisory LLC now owns 1,737,308 shares of the company’s stock worth $5,856,000 after buying an additional 764,387 shares during the last quarter. Quadrature Capital Ltd acquired a new position in HIVE Digital Technologies during the fourth quarter worth $458,000. Finally, Impact Partnership Wealth LLC raised its holdings in 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 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 Trading Down 2.0 %

HIVE opened at $2.99 on Thursday. HIVE Digital Technologies has a fifty-two week low of $2.18 and a fifty-two week high of $5.74. The company has a debt-to-equity ratio of 0.06, a current ratio of 7.35 and a quick ratio of 7.35. The firm has a market capitalization of $351.97 million, a price-to-earnings ratio of -5.07 and a beta of 3.48. The company’s 50 day moving average price is $3.26 and its two-hundred day moving average price is $3.05.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its earnings results on Monday, August 12th. The company reported ($0.08) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.08). HIVE Digital Technologies had a negative net margin of 25.74% and a negative return on equity of 20.88%. The firm had revenue of $32.24 million for the quarter, compared to analyst estimates of $31.85 million. As a group, research analysts predict that HIVE Digital Technologies will post -0.28 earnings per share for the current 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.