HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Receives $8.08 Average PT from Analysts

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) have been assigned a consensus rating of “Buy” from the nine ratings firms that are covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $8.08.

A number of equities research analysts have recently weighed in on HIVE shares. Roth Mkm started coverage on HIVE Digital Technologies in a research report on Thursday, December 19th. They set a “buy” rating and a $7.50 target price for the company. Canaccord Genuity Group boosted their target price on HIVE Digital Technologies from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. StockNews.com upgraded HIVE Digital Technologies to a “sell” rating in a research report on Tuesday, January 14th. Northland Securities boosted their target price on HIVE Digital Technologies from $5.50 to $7.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Finally, Roth Capital upgraded HIVE Digital Technologies to a “strong-buy” rating in a research report on Wednesday, December 18th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of HIVE. Van ECK Associates Corp boosted its position in HIVE Digital Technologies by 17.9% during the fourth quarter. Van ECK Associates Corp now owns 4,562,489 shares of the company’s stock valued at $13,003,000 after purchasing an additional 692,799 shares during the last quarter. Tidal Investments LLC boosted its position in HIVE Digital Technologies by 5.0% during the fourth quarter. Tidal Investments LLC now owns 4,210,339 shares of the company’s stock valued at $11,999,000 after purchasing an additional 200,024 shares during the last quarter. State Street Corp boosted its position in HIVE Digital Technologies by 2.9% during the third 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 last quarter. Vident Advisory LLC boosted its position in HIVE Digital Technologies by 26.1% during the fourth quarter. Vident Advisory LLC now owns 2,831,492 shares of the company’s stock valued at $8,072,000 after purchasing an additional 585,511 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in HIVE Digital Technologies by 332.8% during the fourth quarter. Cubist Systematic Strategies LLC now owns 962,677 shares of the company’s stock valued at $2,744,000 after purchasing an additional 740,247 shares during the last quarter. 24.42% of the stock is owned by institutional investors and hedge funds.

HIVE Digital Technologies Price Performance

HIVE Digital Technologies stock opened at $2.49 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.41 and a current ratio of 10.41. The firm has a market cap of $389.96 million, a P/E ratio of -49.80 and a beta of 3.46. The business’s fifty day moving average is $3.02 and its two-hundred day moving average is $3.35. HIVE Digital Technologies has a 52 week low of $2.18 and a 52 week high of $5.54.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates 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%. Equities research analysts forecast that HIVE Digital Technologies will post -0.32 earnings per share for the current fiscal 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.