HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Receives $6.25 Consensus PT from Analysts

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

A number of research analysts have weighed in on the stock. B. Riley began coverage on shares of HIVE Digital Technologies in a research note on Friday, July 19th. They issued a “buy” rating and a $6.00 price target on the stock. Canaccord Genuity Group boosted their target price on HIVE Digital Technologies from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Thursday. Cantor Fitzgerald started coverage on shares of HIVE Digital Technologies in a research note on Tuesday, October 29th. They set an “overweight” rating and a $9.00 price target for the company. HC Wainwright boosted their price objective on shares of HIVE Digital Technologies from $5.00 to $8.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Northland Capmk raised shares of HIVE Digital Technologies to a “strong-buy” rating in a research report on Thursday, September 19th.

HIVE Digital Technologies Stock Performance

Shares of HIVE Digital Technologies stock opened at $4.31 on Friday. The stock’s fifty day simple moving average is $3.51 and its 200 day simple moving average is $3.20. The company has a current ratio of 7.35, a quick ratio of 7.35 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $535.24 million, a PE ratio of -30.75 and a beta of 3.43. 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 Monday, August 12th. The company reported ($0.08) EPS for the quarter, hitting analysts’ consensus estimates of ($0.08). HIVE Digital Technologies had a negative return on equity of 11.25% and a negative net margin of 12.04%. The company had revenue of $32.24 million for the quarter, compared to analyst estimates of $31.85 million. On average, research analysts predict that HIVE Digital Technologies will post -0.28 EPS for the current year.

Institutional Investors Weigh In On HIVE Digital Technologies

Several hedge funds have recently bought and sold shares of HIVE. Van ECK Associates Corp raised its stake 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 acquiring an additional 1,018,231 shares during the period. MMCAP International Inc. SPC bought a new position in shares of HIVE Digital Technologies in the first quarter valued at about $11,227,000. Vident Advisory LLC lifted its stake in shares of HIVE Digital Technologies by 78.6% during the 1st 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. Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 buying an additional 106,103 shares during the period. Finally, Impact Partnership Wealth LLC grew its stake 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. 24.42% of the stock is currently owned by institutional investors and hedge funds.

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.