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

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) has been given an average recommendation of “Buy” by the six ratings firms that are covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $7.40.

Several analysts have recently commented on the company. StockNews.com raised HIVE Digital Technologies to a “sell” rating in a report on Tuesday, December 3rd. Northland Capmk raised HIVE Digital Technologies to a “strong-buy” rating in a report on Thursday, September 19th. Canaccord Genuity Group boosted 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. Cantor Fitzgerald reiterated an “overweight” rating and issued a $9.00 price target on shares of HIVE Digital Technologies in a report on Tuesday, November 19th. Finally, HC Wainwright reissued a “buy” rating and set a $8.00 price objective on shares of HIVE Digital Technologies in a report on Tuesday, December 3rd.

HIVE Digital Technologies Stock Performance

Shares of HIVE opened at $4.35 on Tuesday. The stock has a market capitalization of $575.55 million, a P/E ratio of -31.07 and a beta of 3.39. 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 $5.74. The company’s fifty day moving average is $3.84 and its two-hundred day moving average is $3.39.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its quarterly 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 business had revenue of $22.65 million for the quarter, compared to analyst estimates 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 period in the previous year, the business posted ($0.29) earnings per share. On average, sell-side analysts predict that HIVE Digital Technologies will post -0.33 earnings per share for the current year.

Institutional Trading of HIVE Digital Technologies

Large investors have recently modified their holdings of the business. Lifeworks Advisors LLC acquired a new position in shares of HIVE Digital Technologies in the third quarter worth $35,000. Vanguard Personalized Indexing Management LLC acquired a new position in HIVE Digital Technologies in the 2nd quarter valued at about $36,000. Gladstone Institutional Advisory LLC purchased a new position in HIVE Digital Technologies in the 3rd quarter valued at about $44,000. Quadrature Capital Ltd purchased a new stake in shares of HIVE Digital Technologies during the third quarter worth about $50,000. Finally, Wellington Management Group LLP acquired a new position in shares of HIVE Digital Technologies in the third quarter valued at approximately $120,000. 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.