HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) has earned an average rating of “Moderate Buy” from the eight brokerages that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $8.2143.

Several research firms have weighed in on HIVE. HC Wainwright boosted their price target on HIVE Digital Technologies from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Rosenblatt Securities reissued a “buy” rating and issued a $10.00 target price on shares of HIVE Digital Technologies in a research note on Tuesday, November 18th. Canaccord Genuity Group reiterated a “buy” rating and issued a $10.00 price target on shares of HIVE Digital Technologies in a research note on Friday, November 21st. Northland Securities set a $7.50 price objective on shares of HIVE Digital Technologies in a research report on Tuesday, October 7th. Finally, B. Riley dropped their target price on shares of HIVE Digital Technologies from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, November 21st.

HIVE Digital Technologies Trading Down 1.3%

Shares of NASDAQ:HIVE opened at $3.11 on Wednesday. The company’s 50-day moving average price is $3.31 and its two-hundred day moving average price is $3.38. HIVE Digital Technologies has a one year low of $1.26 and a one year high of $7.84. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.55 and a quick ratio of 2.55. The stock has a market capitalization of $755.85 million, a PE ratio of -14.81 and a beta of 3.58.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its quarterly earnings data on Friday, November 14th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.01). HIVE Digital Technologies had a negative net margin of 16.18% and a negative return on equity of 14.15%. The company had revenue of $83.37 million during the quarter, compared to the consensus estimate of $80.62 million. On average, equities analysts forecast that HIVE Digital Technologies will post -0.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Ethos Financial Group LLC acquired a new stake in HIVE Digital Technologies during the 2nd quarter valued at $36,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of HIVE Digital Technologies in the second quarter valued at about $38,000. HBW Advisory Services LLC bought a new position in shares of HIVE Digital Technologies in the third quarter valued at about $40,000. WMG Financial Advisors LLC acquired a new stake in shares of HIVE Digital Technologies during the 3rd quarter worth about $40,000. Finally, PKS Advisory Services LLC bought a new stake in shares of HIVE Digital Technologies during the 3rd quarter worth about $44,000. 24.42% of the stock is owned by institutional investors and hedge funds.

HIVE Digital Technologies Company Profile

HIVE Digital Technologies Ltd is a publicly traded blockchain infrastructure company that specializes in the mining of digital assets such as Bitcoin and Ethereum. Using high-performance GPU and ASIC hardware, HIVE deploys proprietary mining rigs across multiple data centers to validate transactions on major blockchain networks. The company’s operations are designed to maximize hashing power while maintaining efficiency and uptime, enabling it to build and hold a portfolio of mined cryptocurrencies.

Headquartered in Vancouver, British Columbia, HIVE Digital operates data center facilities in North America and Europe, including Canada, Sweden and Iceland.