HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Given Consensus Rating of “Buy” by Brokerages

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) have received a consensus recommendation of “Buy” from the six research firms that are presently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $5.70.

HIVE has been the topic of several research reports. Northland Securities initiated coverage on shares of HIVE Digital Technologies in a report on Thursday, September 19th. They set an “outperform” rating and a $5.50 price target on the stock. B. Riley assumed coverage on shares of HIVE Digital Technologies in a research report on Friday, July 19th. They issued a “buy” rating and a $6.00 target price on the stock. HC Wainwright upgraded shares of HIVE Digital Technologies from a “neutral” rating to a “buy” rating and upped their price target for the stock from $4.00 to $5.00 in a report on Thursday, August 15th. StockNews.com upgraded HIVE Digital Technologies to a “sell” rating in a research note on Sunday, June 9th. Finally, Northland Capmk upgraded HIVE Digital Technologies to a “strong-buy” rating in a research report on Thursday, September 19th.

HIVE Digital Technologies Trading Up 0.6 %

Shares of HIVE stock opened at $3.13 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 7.35 and a current ratio of 7.35. HIVE Digital Technologies has a fifty-two week low of $2.18 and a fifty-two week high of $5.74. The company has a market cap of $368.45 million, a PE ratio of -5.31 and a beta of 3.48. The stock’s fifty day moving average price is $3.24 and its two-hundred day moving average price is $3.04.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.08) earnings per share for the quarter, meeting the consensus estimate of ($0.08). The business had revenue of $32.24 million for the quarter, compared to analyst estimates of $31.85 million. HIVE Digital Technologies had a negative return on equity of 20.88% and a negative net margin of 25.74%. Equities analysts predict that HIVE Digital Technologies will post -0.28 EPS for the current fiscal year.

Institutional Trading of HIVE Digital Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC bought a new stake in shares of HIVE Digital Technologies in the 2nd quarter valued at about $36,000. Impact Partnership Wealth LLC boosted its holdings in HIVE Digital Technologies by 202.4% in the second quarter. Impact Partnership Wealth LLC now owns 48,945 shares of the company’s stock valued at $151,000 after acquiring an additional 32,760 shares during the last quarter. Van ECK Associates Corp boosted its holdings in HIVE Digital Technologies by 35.4% in the second quarter. Van ECK Associates Corp now owns 3,894,605 shares of the company’s stock valued at $11,995,000 after acquiring an additional 1,018,231 shares during the last quarter. Vident Advisory LLC increased its position in HIVE Digital Technologies by 78.6% during the 1st quarter. Vident Advisory LLC now owns 1,737,308 shares of the company’s stock valued at $5,856,000 after purchasing an additional 764,387 shares during the period. Finally, MMCAP International Inc. SPC bought a new position in HIVE Digital Technologies during the 1st quarter worth approximately $11,227,000. 24.42% of the stock is currently owned by institutional investors and hedge funds.

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.