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

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) have earned a consensus recommendation of “Buy” from the ten brokerages that are presently covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $7.64.

HIVE has been the topic of several recent research reports. Rosenblatt Securities started coverage on shares of HIVE Digital Technologies in a research note on Friday, March 7th. They issued a “buy” rating and a $6.00 price objective on the stock. StockNews.com raised HIVE Digital Technologies to a “sell” rating in a report on Tuesday, January 14th. Keefe, Bruyette & Woods assumed coverage on HIVE Digital Technologies in a research note on Wednesday, January 8th. They set an “outperform” rating for the company. Roth Capital upgraded HIVE Digital Technologies to a “strong-buy” rating in a research note on Wednesday, December 18th. Finally, Cantor Fitzgerald reduced their target price on HIVE Digital Technologies from $10.00 to $8.00 and set an “overweight” rating for the company in a report on Tuesday, March 11th.

HIVE Digital Technologies Stock Performance

Shares of HIVE Digital Technologies stock opened at $1.40 on Monday. The stock has a market capitalization of $230.43 million, a price-to-earnings ratio of -28.00 and a beta of 3.55. The firm’s fifty day simple moving average is $2.19 and its 200-day simple moving average is $3.09. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.41 and a quick ratio of 10.41. HIVE Digital Technologies has a 12 month low of $1.30 and a 12 month high of $5.54.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.05. HIVE Digital Technologies had a negative return on equity of 8.95% and a negative net margin of 5.45%. As a group, equities analysts forecast that HIVE Digital Technologies will post -0.32 earnings per share for the current year.

Institutional Trading of HIVE Digital Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC boosted its stake in shares of HIVE Digital Technologies by 332.8% during the 4th quarter. Cubist Systematic Strategies LLC now owns 962,677 shares of the company’s stock worth $2,744,000 after purchasing an additional 740,247 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in HIVE Digital Technologies in the 4th quarter worth approximately $2,058,000. Van ECK Associates Corp raised its holdings in HIVE Digital Technologies by 17.9% in the 4th quarter. Van ECK Associates Corp now owns 4,562,489 shares of the company’s stock valued at $13,003,000 after acquiring an additional 692,799 shares during the last quarter. Vident Advisory LLC lifted its stake in shares of HIVE Digital Technologies by 26.1% during the 4th quarter. Vident Advisory LLC now owns 2,831,492 shares of the company’s stock worth $8,072,000 after purchasing an additional 585,511 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of HIVE Digital Technologies by 126.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 736,287 shares of the company’s stock worth $2,098,000 after purchasing an additional 411,071 shares during the last quarter. Hedge funds and other institutional investors own 24.42% of the company’s stock.

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.