Analysts Set HIVE Digital Technologies Ltd. (NASDAQ:HIVE) PT at $6.90

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) have been assigned a consensus rating of “Moderate Buy” from the ten research firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $6.9545.

Several analysts have commented on HIVE shares. Wall Street Zen cut shares of HIVE Digital Technologies from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 12th. Canaccord Genuity Group reiterated a “buy” rating and issued a $10.00 price objective on shares of HIVE Digital Technologies in a research note on Friday, June 5th. UBS Group set a $8.00 target price on shares of HIVE Digital Technologies in a report on Wednesday, June 3rd. HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of HIVE Digital Technologies in a research report on Wednesday, June 3rd. Finally, Keefe, Bruyette & Woods upped their price target on shares of HIVE Digital Technologies from $3.00 to $5.00 and gave the company a “market perform” rating in a report on Friday, June 5th.

Insider Buying and Selling at HIVE Digital Technologies

In other news, COO Luke Rossy sold 215,000 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $3.97, for a total value of $853,550.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Susan B. Mcgee sold 125,000 shares of the company’s stock in a transaction dated Friday, June 19th. The stock was sold at an average price of $4.25, for a total value of $531,250.00. Following the completion of the sale, the director owned 125,000 shares in the company, valued at $531,250. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 681,700 shares of company stock worth $2,937,876. Insiders own 9.44% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Two Sigma Investments LP purchased a new position in shares of HIVE Digital Technologies during the 3rd quarter valued at approximately $17,584,000. Renaissance Technologies LLC purchased a new stake in HIVE Digital Technologies during the fourth quarter worth $10,914,000. Situational Awareness LP purchased a new stake in HIVE Digital Technologies during the first quarter worth $6,444,000. Millennium Management LLC grew its position in HIVE Digital Technologies by 58.1% during the fourth quarter. Millennium Management LLC now owns 6,900,828 shares of the company’s stock valued at $17,804,000 after buying an additional 2,536,135 shares during the period. Finally, Vident Advisory LLC grew its position in HIVE Digital Technologies by 53.0% during the second quarter. Vident Advisory LLC now owns 3,766,446 shares of the company’s stock valued at $6,780,000 after buying an additional 1,305,057 shares during the period. 24.42% of the stock is owned by institutional investors and hedge funds.

HIVE Digital Technologies Trading Down 5.7%

HIVE Digital Technologies stock opened at $2.83 on Friday. The stock has a 50-day moving average price of $3.66 and a 200 day moving average price of $2.90. The company has a market capitalization of $760.22 million, a price-to-earnings ratio of -5.05 and a beta of 3.77. HIVE Digital Technologies has a 52 week low of $1.73 and a 52 week high of $7.84. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.10.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its quarterly earnings results on Tuesday, June 2nd. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.07). HIVE Digital Technologies had a negative return on equity of 23.12% and a negative net margin of 49.21%.The business had revenue of $71.82 million during the quarter, compared to analyst estimates of $79.99 million. Sell-side analysts anticipate that HIVE Digital Technologies will post -0.78 EPS for the current year.

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.