HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Stock Has Consensus Price Target of $6.95

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) have received a consensus rating of “Moderate Buy” from the eight research firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $6.95.

HIVE has been the topic of several analyst reports. Wall Street Zen downgraded HIVE Digital Technologies from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 12th. HC Wainwright reissued a “buy” rating and issued a $7.00 price objective on shares of HIVE Digital Technologies in a report on Monday, August 17th. Weiss Ratings raised HIVE Digital Technologies from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, August 14th. Rosenblatt Securities raised their target price on HIVE Digital Technologies from $5.50 to $6.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Finally, Chardan Capital reiterated a “buy” rating and set a $7.50 price target on shares of HIVE Digital Technologies in a research report on Wednesday, September 16th.

Insider Buying and Selling

In other HIVE Digital Technologies news, Director Dave Perrill sold 12,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 7th. The stock was sold at an average price of $2.75, for a total value of $34,375.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Hedge Funds Weigh In On HIVE Digital Technologies

Several institutional investors have recently made changes to their positions in HIVE. Situational Awareness LP lifted its stake in shares of HIVE Digital Technologies by 169.3% in the 2nd quarter. Situational Awareness LP now owns 9,133,726 shares of the company’s stock valued at $33,247,000 after purchasing an additional 5,742,179 shares during the period. Empowered Funds LLC purchased a new stake in HIVE Digital Technologies during the first quarter worth $1,934,000. Acasta Partners UK LLP purchased a new stake in HIVE Digital Technologies during the second quarter worth $3,640,000. BTG Pactual Asset Management US LLC acquired a new stake in HIVE Digital Technologies during the second quarter valued at $2,730,000. Finally, Hennion & Walsh Asset Management Inc. grew its position in HIVE Digital Technologies by 8.0% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 398,871 shares of the company’s stock valued at $1,452,000 after buying an additional 29,641 shares during the period. 24.42% of the stock is owned by hedge funds and other institutional investors.

HIVE Digital Technologies Price Performance

NASDAQ:HIVE opened at $2.50 on Friday. The firm has a market capitalization of $686.92 million, a P/E ratio of -1.94 and a beta of 3.76. HIVE Digital Technologies has a 1-year low of $1.73 and a 1-year high of $7.84. The company’s fifty day moving average price is $2.94 and its 200-day moving average price is $3.07. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.96 and a quick ratio of 1.96.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its earnings results on Friday, August 14th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $79.12 million for the quarter, compared to analysts’ expectations of $81.72 million. During the same period last year, the business earned $0.18 EPS. As a group, equities research analysts anticipate that HIVE Digital Technologies will post -0.61 EPS for the current year.

About HIVE Digital Technologies

HIVE Digital Technologies Ltd. is a digital-asset and data-center infrastructure company focused primarily on the mining of Bitcoin. The company operates specialized computing facilities designed to support energy-intensive digital-asset mining and has also been developing capabilities for high-performance computing and artificial-intelligence applications.

HIVE was founded in 2017 and was formerly known as HIVE Blockchain Technologies Ltd. Its operations have historically included data centers in Canada, Sweden and Iceland, and the company has expanded its infrastructure footprint internationally, including through development activities in Paraguay.