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

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) has received a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $7.6250.

HIVE has been the subject of several research analyst reports. B. Riley lowered their price target on HIVE Digital Technologies from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, November 21st. Wall Street Zen cut HIVE Digital Technologies from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $10.00 target price on shares of HIVE Digital Technologies in a research report on Tuesday, November 18th. Canaccord Genuity Group reiterated a “buy” rating and set a $10.00 price target on shares of HIVE Digital Technologies in a research note on Friday, November 21st. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $3.50 price objective (down previously from $11.00) on shares of HIVE Digital Technologies in a research note on Tuesday, January 27th.

Hedge Funds Weigh In On HIVE Digital Technologies

Institutional investors have recently modified their holdings of the business. WMG Financial Advisors LLC purchased a new stake in shares of HIVE Digital Technologies during the third quarter worth $40,000. HBW Advisory Services LLC purchased a new stake in HIVE Digital Technologies during the 3rd quarter worth about $40,000. Ground Swell Capital LLC acquired a new stake in HIVE Digital Technologies in the 4th quarter valued at about $27,000. PKS Advisory Services LLC acquired a new stake in HIVE Digital Technologies in the 3rd quarter valued at about $44,000. Finally, R Squared Ltd purchased a new position in shares of HIVE Digital Technologies in the 3rd quarter valued at about $45,000. Institutional investors and hedge funds own 24.42% of the company’s stock.

HIVE Digital Technologies Price Performance

Shares of HIVE opened at $2.01 on Friday. The firm has a 50-day simple moving average of $2.97 and a two-hundred day simple moving average of $3.48. The stock has a market cap of $502.14 million, a PE ratio of -9.57 and a beta of 3.58. HIVE Digital Technologies has a 1-year low of $1.26 and a 1-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.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its quarterly earnings data on Friday, November 14th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The company had revenue of $83.37 million for the quarter, compared to analysts’ expectations of $80.62 million. HIVE Digital Technologies had a negative return on equity of 14.15% and a negative net margin of 16.18%. As a group, analysts forecast that HIVE Digital Technologies will post -0.32 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.