HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Receives $8.08 Consensus PT from Analysts

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) have been given a consensus recommendation of “Buy” by the nine research firms that are covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $8.08.

Several brokerages have recently weighed in on HIVE. Cantor Fitzgerald restated an “overweight” rating and issued a $9.00 price objective on shares of HIVE Digital Technologies in a report on Tuesday, November 19th. StockNews.com upgraded HIVE Digital Technologies to a “sell” rating in a report on Tuesday, January 14th. Roth Mkm started coverage on HIVE Digital Technologies in a report on Thursday, December 19th. They set a “buy” rating and a $7.50 price target for the company. Northland Securities lifted their price target on HIVE Digital Technologies from $5.50 to $7.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Finally, Keefe, Bruyette & Woods started coverage on HIVE Digital Technologies in a report on Wednesday, January 8th. They set an “outperform” rating for the company.

Institutional Investors Weigh In On HIVE Digital Technologies

Hedge funds have recently bought and sold shares of the stock. State Street Corp lifted its position in HIVE Digital Technologies by 2.9% during the third quarter. State Street Corp now owns 3,214,101 shares of the company’s stock worth $10,060,000 after acquiring an additional 91,056 shares during the last quarter. Van ECK Associates Corp lifted its position in HIVE Digital Technologies by 17.9% during the fourth quarter. Van ECK Associates Corp now owns 4,562,489 shares of the company’s stock worth $13,003,000 after acquiring an additional 692,799 shares during the last quarter. XTX Topco Ltd acquired a new stake in HIVE Digital Technologies during the third quarter worth approximately $463,000. Wellington Management Group LLP acquired a new stake in HIVE Digital Technologies during the third quarter worth approximately $120,000. Finally, Centiva Capital LP acquired a new stake in HIVE Digital Technologies during the third quarter worth approximately $235,000. 24.42% of the stock is currently owned by institutional investors and hedge funds.

HIVE Digital Technologies Price Performance

Shares of NASDAQ HIVE opened at $2.81 on Friday. The stock has a market capitalization of $416.08 million, a price-to-earnings ratio of -20.07 and a beta of 3.46. The business has a 50-day moving average of $3.09 and a 200-day moving average of $3.35. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.56 and a quick ratio of 5.56. HIVE Digital Technologies has a fifty-two week low of $2.18 and a fifty-two week high of $5.54.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.05. HIVE Digital Technologies had a negative return on equity of 10.78% and a negative net margin of 12.04%. As a group, sell-side analysts predict that HIVE Digital Technologies will post -0.34 earnings per share for the current fiscal 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.