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

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) have been assigned an average rating of “Buy” from the nine research firms that are presently covering the company, MarketBeat reports. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $7.42.

A number of research firms have issued reports on HIVE. Cantor Fitzgerald restated an “overweight” rating and set a $9.00 price target on shares of HIVE Digital Technologies in a report on Tuesday, November 19th. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price target on shares of HIVE Digital Technologies in a research note on Tuesday, December 3rd. Roth Mkm assumed coverage on shares of HIVE Digital Technologies in a research report on Thursday, December 19th. They set a “buy” rating and a $7.50 price objective on the stock. Keefe, Bruyette & Woods started coverage on HIVE Digital Technologies in a research report on Wednesday, January 8th. They issued an “outperform” rating for the company. Finally, Canaccord Genuity Group boosted their price objective on HIVE Digital Technologies from $6.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, November 14th.

Institutional Trading of HIVE Digital Technologies

A number of hedge funds have recently bought and sold shares of HIVE. State Street Corp boosted its holdings in shares of HIVE Digital Technologies by 2.9% in the 3rd quarter. State Street Corp now owns 3,214,101 shares of the company’s stock worth $10,060,000 after buying an additional 91,056 shares during the last quarter. XTX Topco Ltd bought a new position in shares of HIVE Digital Technologies during the 3rd quarter valued at approximately $463,000. Wellington Management Group LLP bought a new position in shares of HIVE Digital Technologies during the 3rd quarter valued at approximately $120,000. Centiva Capital LP purchased a new stake in shares of HIVE Digital Technologies during the 3rd quarter worth approximately $235,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of HIVE Digital Technologies by 48.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 325,216 shares of the company’s stock worth $1,018,000 after purchasing an additional 106,103 shares during the period. 24.42% of the stock is currently owned by institutional investors.

HIVE Digital Technologies Trading Down 0.6 %

HIVE opened at $3.09 on Wednesday. The stock has a market cap of $445.76 million, a PE ratio of -22.07 and a beta of 3.46. The company has a quick ratio of 5.56, a current ratio of 5.56 and a debt-to-equity ratio of 0.06. HIVE Digital Technologies has a twelve month low of $2.18 and a twelve month high of $5.54. The company has a fifty day moving average of $3.51 and a 200-day moving average of $3.47.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.03. HIVE Digital Technologies had a negative return on equity of 10.78% and a negative net margin of 12.04%. The firm had revenue of $22.65 million during the quarter, compared to analyst estimates of $25.32 million. During the same period last year, the company posted ($0.29) EPS. On average, sell-side analysts predict that HIVE Digital Technologies will post -0.34 EPS for the current year.

HIVE Digital Technologies Company Profile

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.