HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Receives Average Rating of “Buy” from Analysts

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) has received a consensus recommendation of “Buy” from the nine ratings firms that are covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $8.08.

Several analysts have issued reports on HIVE shares. Canaccord Genuity Group upped their price objective on HIVE Digital Technologies from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Northland Securities increased their target price on HIVE Digital Technologies from $5.50 to $7.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Roth Capital upgraded HIVE Digital Technologies to a “strong-buy” rating in a research note on Wednesday, December 18th. HC Wainwright reiterated a “buy” rating and set a $10.00 target price (up previously from $8.00) on shares of HIVE Digital Technologies in a research note on Thursday, February 13th. Finally, Roth Mkm began coverage on HIVE Digital Technologies in a research note on Thursday, December 19th. They set a “buy” rating and a $7.50 target price on the stock.

Hedge Funds Weigh In On HIVE Digital Technologies

A number of hedge funds have recently added to or reduced their stakes in HIVE. Point72 Asia Singapore Pte. Ltd. bought a new position in HIVE Digital Technologies during the 4th quarter worth $26,000. Lifeworks Advisors LLC bought a new position in HIVE Digital Technologies during the 3rd quarter worth $35,000. Gladstone Institutional Advisory LLC bought a new position in HIVE Digital Technologies during the 3rd quarter worth $44,000. Wells Fargo & Company MN increased its stake in HIVE Digital Technologies by 60.9% during the 4th quarter. Wells Fargo & Company MN now owns 15,320 shares of the company’s stock worth $44,000 after acquiring an additional 5,800 shares during the period. Finally, Quadrature Capital Ltd bought a new position in HIVE Digital Technologies during the 3rd quarter worth $50,000. Institutional investors own 24.42% of the company’s stock.

HIVE Digital Technologies Price Performance

NASDAQ:HIVE opened at $2.49 on Friday. The company has a quick ratio of 10.41, a current ratio of 10.41 and a debt-to-equity ratio of 0.03. The stock’s 50 day moving average price is $3.02 and its two-hundred day moving average price is $3.35. The firm has a market capitalization of $389.96 million, a price-to-earnings ratio of -49.80 and a beta of 3.46. HIVE Digital Technologies has a 12-month low of $2.18 and a 12-month high of $5.54.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate 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%. On average, analysts anticipate that HIVE Digital Technologies will post -0.32 earnings per share for the current year.

About HIVE Digital Technologies

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.