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

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) has been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $6.95.

HIVE has been the topic of several recent research reports. Chardan Capital reissued a “buy” rating and issued a $7.50 price target on shares of HIVE Digital Technologies in a report on Wednesday, September 16th. HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of HIVE Digital Technologies in a research note on Monday, August 17th. Canaccord Genuity Group restated a “buy” rating and set a $10.00 price objective on shares of HIVE Digital Technologies in a research note on Monday, October 19th. Rosenblatt Securities increased their target price on HIVE Digital Technologies from $5.50 to $6.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Finally, Weiss Ratings upgraded HIVE Digital Technologies from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, August 14th.

HIVE Digital Technologies Price Performance

HIVE opened at $1.63 on Tuesday. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.85. The company’s 50-day moving average price is $2.62 and its 200 day moving average price is $2.81. HIVE Digital Technologies has a fifty-two week low of $1.58 and a fifty-two week high of $5.34. The firm has a market cap of $450.24 million, a price-to-earnings ratio of -1.26 and a beta of 3.76.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its earnings results on Friday, August 14th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.33). The company had revenue of $79.12 million during the quarter, compared to analyst estimates of $81.72 million. HIVE Digital Technologies had a negative net margin of 98.49% and a negative return on equity of 31.98%. During the same quarter in the previous year, the firm earned $0.18 earnings per share. As a group, sell-side analysts expect that HIVE Digital Technologies will post -0.66 earnings per share for the current year.

Insider Activity at HIVE Digital Technologies

In other news, Director Dave Perrill sold 100,000 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $2.72, for a total transaction of $272,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 9.44% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HIVE. Jefferies Financial Group Inc. bought a new stake in HIVE Digital Technologies during the 3rd quarter valued at $54,000. StoneX Group Inc. acquired a new position in HIVE Digital Technologies during the 3rd quarter worth $40,000. Calamos Advisors LLC bought a new position in shares of HIVE Digital Technologies in the third quarter worth $173,000. Kestra Advisory Services LLC grew its stake in shares of HIVE Digital Technologies by 132.4% in the third quarter. Kestra Advisory Services LLC now owns 103,195 shares of the company’s stock worth $304,000 after purchasing an additional 58,800 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in shares of HIVE Digital Technologies by 1.9% in the third quarter. Commonwealth Equity Services LLC now owns 416,690 shares of the company’s stock worth $1,229,000 after purchasing an additional 7,772 shares in the last quarter. 24.42% of the stock is owned by institutional investors and hedge funds.

About HIVE Digital Technologies

HIVE Digital Technologies Ltd. is a digital asset infrastructure company focused primarily on Bitcoin mining and the operation of data centers. The company uses specialized computing equipment and energy infrastructure to support cryptocurrency mining, while also developing facilities designed to accommodate high-performance computing and artificial intelligence applications.

Founded as HIVE Blockchain Technologies, the company adopted the HIVE Digital Technologies name in 2023 to reflect its broader focus beyond cryptocurrency mining.