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

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVEGet Free Report) have been assigned an average rating of “Buy” from the eight ratings firms that are presently covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $7.42.

A number of research analysts recently commented on HIVE shares. Northland Securities upped their price objective on HIVE Digital Technologies from $5.50 to $7.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. HC Wainwright restated a “buy” rating and set a $8.00 price target on shares of HIVE Digital Technologies in a research report on Tuesday, December 3rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $9.00 price objective on shares of HIVE Digital Technologies in a research report on Tuesday, November 19th. Canaccord Genuity Group upped their target price on shares of HIVE Digital Technologies from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Roth Mkm initiated coverage on HIVE Digital Technologies in a report on Thursday, December 19th. They set a “buy” rating and a $7.50 price target on the stock.

Get Our Latest Report on HIVE

Institutional Investors Weigh In On HIVE Digital Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HIVE. Virtu Financial LLC increased its position in shares of HIVE Digital Technologies by 527.9% during the 3rd quarter. Virtu Financial LLC now owns 71,990 shares of the company’s stock valued at $225,000 after purchasing an additional 60,524 shares during the period. Toronto Dominion Bank raised its position in HIVE Digital Technologies by 86,334.5% in the third quarter. Toronto Dominion Bank now owns 50,132 shares of the company’s stock worth $157,000 after acquiring an additional 50,074 shares in the last quarter. XTX Topco Ltd acquired a new stake in HIVE Digital Technologies in the 3rd quarter valued at about $463,000. Wellington Management Group LLP bought a new position in shares of HIVE Digital Technologies during the 3rd quarter valued at about $120,000. Finally, State Street Corp grew its stake in shares of HIVE Digital Technologies by 2.9% in the 3rd quarter. State Street Corp now owns 3,214,101 shares of the company’s stock worth $10,060,000 after purchasing an additional 91,056 shares during the last quarter. Institutional investors own 24.42% of the company’s stock.

HIVE Digital Technologies Trading Down 2.0 %

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

HIVE Digital Technologies (NASDAQ:HIVEGet Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. The firm had revenue of $22.65 million for the quarter, compared to analysts’ expectations of $25.32 million. HIVE Digital Technologies had a negative net margin of 12.04% and a negative return on equity of 10.78%. During the same quarter last year, the company posted ($0.29) earnings per share. On average, equities analysts expect that HIVE Digital Technologies will post -0.33 earnings per share for the current year.

About HIVE Digital Technologies

(Get Free Report

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.

Read More

Analyst Recommendations for HIVE Digital Technologies (NASDAQ:HIVE)

Receive News & Ratings for HIVE Digital Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HIVE Digital Technologies and related companies with MarketBeat.com's FREE daily email newsletter.