Brokerages Set HIVE Digital Technologies Ltd. (NASDAQ:HIVE) PT at $7.42

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) have earned an average recommendation of “Buy” from the eight research firms that are presently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $7.42.

A number of research analysts have recently commented on the stock. Northland Securities increased their target price on shares of HIVE Digital Technologies from $5.50 to $7.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Roth Mkm began coverage on shares of HIVE Digital Technologies in a research report on Thursday, December 19th. They issued a “buy” rating and a $7.50 target price on the stock. Canaccord Genuity Group upped their price target on shares of HIVE Digital Technologies from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Northland Capmk upgraded HIVE Digital Technologies to a “strong-buy” rating in a research note on Thursday, September 19th. Finally, Roth Capital upgraded HIVE Digital Technologies to a “strong-buy” rating in a research report on Wednesday, December 18th.

HIVE Digital Technologies Trading Up 7.1 %

HIVE opened at $3.31 on Friday. The company has a quick ratio of 5.56, a current ratio of 5.56 and a debt-to-equity ratio of 0.06. HIVE Digital Technologies has a twelve month low of $2.18 and a twelve month high of $5.54. The stock has a market capitalization of $460.23 million, a price-to-earnings ratio of -23.64 and a beta of 3.39. The company has a 50-day simple moving average of $3.86 and a 200 day simple moving average of $3.47.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. The company had revenue of $22.65 million during the quarter, compared to analysts’ expectations of $25.32 million. HIVE Digital Technologies had a negative return on equity of 10.78% and a negative net margin of 12.04%. During the same quarter in the previous year, the firm earned ($0.29) EPS. Analysts predict that HIVE Digital Technologies will post -0.33 EPS for the current fiscal year.

Institutional Investors Weigh In On HIVE Digital Technologies

Several institutional investors and hedge funds have recently made changes to their positions in HIVE. State Street Corp increased its position in HIVE Digital Technologies by 2.9% during the 3rd quarter. State Street Corp now owns 3,214,101 shares of the company’s stock valued at $10,060,000 after purchasing an additional 91,056 shares during the period. XTX Topco Ltd acquired a new stake in shares of HIVE Digital Technologies during the third quarter worth $463,000. Van ECK Associates Corp increased its position in shares of HIVE Digital Technologies by 35.4% during the second quarter. Van ECK Associates Corp now owns 3,894,605 shares of the company’s stock worth $11,995,000 after buying an additional 1,018,231 shares during the period. Wellington Management Group LLP bought a new position in HIVE Digital Technologies during the third quarter worth $120,000. Finally, Centiva Capital LP acquired a new position in HIVE Digital Technologies in the third quarter valued at $235,000. Institutional investors and hedge funds own 24.42% of the company’s stock.

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.