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

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) has been assigned an average recommendation of “Buy” from the six analysts that are currently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $7.40.

A number of equities analysts have weighed in on the company. HC Wainwright upped their price target on HIVE Digital Technologies from $5.00 to $8.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Northland Capmk upgraded shares of HIVE Digital Technologies to a “strong-buy” rating in a report on Thursday, September 19th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $9.00 price target on shares of HIVE Digital Technologies in a research note on Tuesday, November 19th. Northland Securities increased their price objective on shares of HIVE Digital Technologies from $5.50 to $7.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Finally, Canaccord Genuity Group lifted their target price on HIVE Digital Technologies from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Thursday, November 14th.

HIVE Digital Technologies Trading Up 0.2 %

Shares of NASDAQ:HIVE opened at $4.09 on Tuesday. The firm has a market cap of $535.26 million, a price-to-earnings ratio of -29.21 and a beta of 3.43. HIVE Digital Technologies has a 12 month low of $2.18 and a 12 month high of $5.74. The company’s fifty day simple moving average is $3.75 and its 200 day simple moving average is $3.34. 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 (NASDAQ:HIVE) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. The company had revenue of $22.65 million for the quarter, compared to analyst estimates of $25.32 million. HIVE Digital Technologies had a negative return on equity of 10.78% and a negative net margin of 12.04%. During the same period in the previous year, the company posted ($0.29) earnings per share. As a group, research analysts forecast that HIVE Digital Technologies will post -0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On HIVE Digital Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the company. Lifeworks Advisors LLC acquired a new position in shares of HIVE Digital Technologies during the 3rd quarter worth approximately $35,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of HIVE Digital Technologies in the second quarter valued at $36,000. Gladstone Institutional Advisory LLC bought a new position in shares of HIVE Digital Technologies in the third quarter valued at about $44,000. Quadrature Capital Ltd bought a new position in shares of HIVE Digital Technologies in the third quarter valued at about $50,000. Finally, Impact Partnership Wealth LLC lifted its stake in shares of HIVE Digital Technologies by 202.4% during the 2nd quarter. Impact Partnership Wealth LLC now owns 48,945 shares of the company’s stock worth $151,000 after buying an additional 32,760 shares during the last quarter. 24.42% of the stock is owned by institutional investors.

About HIVE Digital Technologies

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.