HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Receives $7.42 Consensus PT from Brokerages

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) have received a consensus recommendation of “Buy” from the eight ratings firms that are currently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $7.42.

Several equities analysts have recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $8.00 target price on shares of HIVE Digital Technologies in a research note on Tuesday, December 3rd. StockNews.com upgraded HIVE Digital Technologies to a “sell” rating in a research report on Tuesday, December 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $9.00 price target on shares of HIVE Digital Technologies in a report on Tuesday, November 19th. Roth Capital upgraded HIVE Digital Technologies to a “strong-buy” rating in a research report on Wednesday, December 18th. Finally, Northland Capmk upgraded HIVE Digital Technologies to a “strong-buy” rating in a research note on Thursday, September 19th.

Institutional Investors Weigh In On HIVE Digital Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Lifeworks Advisors LLC purchased a new stake in HIVE Digital Technologies during the third quarter valued at about $35,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of HIVE Digital Technologies during the 2nd quarter valued at about $36,000. Gladstone Institutional Advisory LLC purchased a new position in shares of HIVE Digital Technologies during the 3rd quarter valued at about $44,000. Quadrature Capital Ltd bought a new stake in HIVE Digital Technologies in the 3rd quarter worth approximately $50,000. Finally, Impact Partnership Wealth LLC boosted its stake in HIVE Digital Technologies by 202.4% in the second quarter. Impact Partnership Wealth LLC now owns 48,945 shares of the company’s stock worth $151,000 after buying an additional 32,760 shares in the last quarter. 24.42% of the stock is owned by hedge funds and other institutional investors.

HIVE Digital Technologies Stock Performance

Shares of HIVE opened at $2.85 on Friday. The company has a market capitalization of $383.70 million, a price-to-earnings ratio of -20.36 and a beta of 3.39. HIVE Digital Technologies has a 12 month low of $2.18 and a 12 month high of $5.54. The company has a current ratio of 5.56, a quick ratio of 5.56 and a debt-to-equity ratio of 0.06. The stock has a 50 day moving average of $3.89 and a 200 day moving average of $3.48.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.03. The business had revenue of $22.65 million for the quarter, compared to the consensus estimate of $25.32 million. HIVE Digital Technologies had a negative return on equity of 10.78% and a negative net margin of 12.04%. During the same quarter in the prior year, the business earned ($0.29) earnings per share. As a group, sell-side analysts forecast that HIVE Digital Technologies will post -0.33 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.