Analysts Set HIVE Digital Technologies Ltd. (NASDAQ:HIVE) PT at $5.70

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) has been given a consensus rating of “Buy” by the six analysts that are covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $5.70.

A number of research firms recently commented on HIVE. Northland Capmk upgraded shares of HIVE Digital Technologies to a “strong-buy” rating in a research note on Thursday, September 19th. B. Riley assumed coverage on HIVE Digital Technologies in a research note on Friday, July 19th. They issued a “buy” rating and a $6.00 price objective on the stock. HC Wainwright upgraded 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 report on Thursday, August 15th. Canaccord Genuity Group reiterated a “buy” rating and issued a $6.00 price target on shares of HIVE Digital Technologies in a research report on Wednesday, August 21st. Finally, Northland Securities began coverage on shares of HIVE Digital Technologies in a research note on Thursday, September 19th. They issued an “outperform” rating and a $5.50 price objective on the stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of HIVE. MMCAP International Inc. SPC purchased a new position in HIVE Digital Technologies during the 1st quarter valued at about $11,227,000. Van ECK Associates Corp increased its position in HIVE Digital Technologies by 56.0% in the 1st quarter. Van ECK Associates Corp now owns 2,876,374 shares of the company’s stock worth $9,693,000 after purchasing an additional 1,032,672 shares during the last quarter. Vident Advisory LLC raised 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 purchasing an additional 764,387 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of HIVE Digital Technologies during the 4th quarter worth about $458,000. Finally, Impact Partnership Wealth LLC grew its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 24.42% of the company’s stock.

HIVE Digital Technologies Stock Up 15.5 %

HIVE opened at $3.81 on Monday. The stock’s 50 day moving average price is $3.11 and its 200 day moving average price is $3.05. 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 stock has a market cap of $448.50 million, a P/E ratio of -6.46 and a beta of 3.48. 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 issued its quarterly earnings results on Monday, August 12th. The company reported ($0.08) EPS for the quarter, meeting analysts’ consensus estimates of ($0.08). The company had revenue of $32.24 million for the quarter, compared to analyst estimates of $31.85 million. HIVE Digital Technologies had a negative return on equity of 20.88% and a negative net margin of 25.74%. As a group, research analysts predict that HIVE Digital Technologies will post -0.28 earnings per share for the current year.

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.