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

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) have been given an average recommendation of “Moderate Buy” by the nine analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $6.1667.

HIVE has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of HIVE Digital Technologies in a research note on Wednesday, January 28th. B. Riley Financial cut their price objective on HIVE Digital Technologies from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $3.50 price target (down from $11.00) on shares of HIVE Digital Technologies in a research note on Tuesday, January 27th. Rosenblatt Securities dropped their price target on HIVE Digital Technologies from $6.50 to $4.50 and set a “buy” rating for the company in a research note on Wednesday, February 18th. Finally, HC Wainwright restated a “buy” rating on shares of HIVE Digital Technologies in a research note on Tuesday, February 17th.

HIVE Digital Technologies Trading Down 2.4%

Shares of NASDAQ:HIVE opened at $2.48 on Friday. The stock has a 50 day moving average of $2.13 and a 200 day moving average of $3.20. The company has a market cap of $646.13 million, a PE ratio of -4.13 and a beta of 3.56. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.02. HIVE Digital Technologies has a 12-month low of $1.50 and a 12-month high of $7.84.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Voya Investment Management LLC bought a new position in HIVE Digital Technologies in the 3rd quarter worth approximately $1,672,000. Bastion Asset Management Inc. bought a new position in HIVE Digital Technologies in the 3rd quarter worth approximately $1,175,000. Alight Capital Management LP bought a new position in HIVE Digital Technologies in the 3rd quarter worth approximately $1,310,000. Generali Investments CEE investicni spolecnost a.s. boosted its stake in HIVE Digital Technologies by 20.0% in the 3rd quarter. Generali Investments CEE investicni spolecnost a.s. now owns 1,492,481 shares of the company’s stock worth $6,015,000 after purchasing an additional 248,251 shares during the period. Finally, Counterpoint Mutual Funds LLC bought a new position in HIVE Digital Technologies in the 3rd quarter worth approximately $527,000. 24.42% of the stock is currently owned by institutional investors.

HIVE Digital Technologies Company Profile

HIVE Digital Technologies Ltd is a publicly traded blockchain infrastructure company that specializes in the mining of digital assets such as Bitcoin and Ethereum. Using high-performance GPU and ASIC hardware, HIVE deploys proprietary mining rigs across multiple data centers to validate transactions on major blockchain networks. The company’s operations are designed to maximize hashing power while maintaining efficiency and uptime, enabling it to build and hold a portfolio of mined cryptocurrencies.

Headquartered in Vancouver, British Columbia, HIVE Digital operates data center facilities in North America and Europe, including Canada, Sweden and Iceland.