Brokerages Set HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Price Target at $6.95

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) has received a consensus recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $7.00.

Several equities research analysts have weighed in on the company. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of HIVE Digital Technologies in a report on Monday, August 17th. Wall Street Zen downgraded shares of HIVE Digital Technologies from a “sell” rating to a “strong sell” rating in a report on Sunday, July 12th. B. Riley Financial increased their price objective on shares of HIVE Digital Technologies from $5.00 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, June 3rd. Cantor Fitzgerald set a $7.00 target price on shares of HIVE Digital Technologies in a research note on Thursday, June 4th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of HIVE Digital Technologies from $3.00 to $5.00 and gave the stock a “market perform” rating in a research report on Friday, June 5th.

HIVE Digital Technologies Stock Performance

Shares of NASDAQ:HIVE opened at $2.86 on Thursday. The firm’s 50 day simple moving average is $3.24 and its 200-day simple moving average is $2.87. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.96 and a current ratio of 1.96. HIVE Digital Technologies has a one year low of $1.73 and a one year high of $7.84. The firm has a market cap of $784.43 million, a PE ratio of -2.22 and a beta of 3.78.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.33). HIVE Digital Technologies had a negative return on equity of 31.98% and a negative net margin of 98.49%.The firm had revenue of $79.12 million for the quarter, compared to the consensus estimate of $81.72 million. During the same period in the previous year, the company posted $0.18 EPS. As a group, equities analysts predict that HIVE Digital Technologies will post -0.61 EPS for the current year.

Insiders Place Their Bets

In other news, Director Susan B. Mcgee sold 125,000 shares of HIVE Digital Technologies stock in a transaction on Friday, June 19th. The shares were sold at an average price of $4.25, for a total transaction of $531,250.00. Following the completion of the sale, the director directly owned 125,000 shares in the company, valued at approximately $531,250. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Luke Rossy sold 215,000 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $3.97, for a total transaction of $853,550.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 781,700 shares of company stock valued at $3,209,876. Insiders own 9.44% of the company’s stock.

Institutional Trading of HIVE Digital Technologies

Several large investors have recently added to or reduced their stakes in the company. Situational Awareness LP acquired a new stake in HIVE Digital Technologies during the 1st quarter valued at approximately $6,444,000. Acasta Partners UK LLP purchased a new stake in shares of HIVE Digital Technologies in the 2nd quarter valued at $3,640,000. Empowered Funds LLC acquired a new stake in shares of HIVE Digital Technologies in the first quarter worth $1,934,000. UBS Group AG increased its stake in shares of HIVE Digital Technologies by 3,992.2% in the fourth quarter. UBS Group AG now owns 929,390 shares of the company’s stock worth $2,398,000 after acquiring an additional 906,679 shares during the period. Finally, Chicago Partners Investment Group LLC raised its holdings in shares of HIVE Digital Technologies by 30.3% during the first quarter. Chicago Partners Investment Group LLC now owns 205,322 shares of the company’s stock worth $390,000 after purchasing an additional 47,711 shares during the last quarter. Hedge funds and other institutional investors own 24.42% of the company’s stock.

About HIVE Digital Technologies

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.