Brokerages Set HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Price Target at $6.17

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) has been assigned a consensus recommendation of “Moderate Buy” from the nine analysts that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $6.1667.

HIVE has been the subject of several analyst reports. Cantor Fitzgerald cut their price objective on shares of HIVE Digital Technologies from $5.00 to $3.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. B. Riley Financial cut their price objective on shares of HIVE Digital Technologies from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. HC Wainwright restated a “buy” rating on shares of HIVE Digital Technologies in a research note on Tuesday, February 17th. New Street Research set a $5.00 price objective on shares of HIVE Digital Technologies in a research note on Thursday, February 19th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of HIVE Digital Technologies in a research note on Monday, May 11th.

HIVE Digital Technologies Stock Down 9.4%

HIVE stock opened at $2.69 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.74 and a quick ratio of 1.74. HIVE Digital Technologies has a 1-year low of $1.60 and a 1-year high of $7.84. The firm has a fifty day moving average price of $2.29 and a two-hundred day moving average price of $2.84. The firm has a market cap of $711.37 million, a price-to-earnings ratio of -4.48 and a beta of 3.50.

Institutional Investors Weigh In On HIVE Digital Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Millennium Management LLC raised its holdings in HIVE Digital Technologies by 58.1% during the 4th quarter. Millennium Management LLC now owns 6,900,828 shares of the company’s stock worth $17,804,000 after buying an additional 2,536,135 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in HIVE Digital Technologies by 29.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,187,363 shares of the company’s stock worth $13,383,000 after buying an additional 1,193,991 shares during the period. Tidal Investments LLC raised its holdings in HIVE Digital Technologies by 15.4% during the 3rd quarter. Tidal Investments LLC now owns 4,771,312 shares of the company’s stock worth $19,228,000 after buying an additional 637,679 shares during the period. Two Sigma Investments LP acquired a new stake in HIVE Digital Technologies during the 3rd quarter worth about $17,584,000. Finally, Vident Advisory LLC raised its holdings in HIVE Digital Technologies by 33.6% during the 4th quarter. Vident Advisory LLC now owns 4,327,141 shares of the company’s stock worth $11,164,000 after buying an additional 1,087,224 shares during the period. 24.42% of the stock is currently owned by institutional investors.

About HIVE Digital Technologies

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.