Analysts Set HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Price Target at $7.42

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) have been assigned a consensus recommendation of “Buy” from the eight brokerages that are presently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $7.42.

Several research firms have commented on HIVE. Northland Securities raised their price objective on HIVE Digital Technologies from $5.50 to $7.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Northland Capmk upgraded shares of HIVE Digital Technologies to a “strong-buy” rating in a research note on Thursday, September 19th. Canaccord Genuity Group raised their price target on shares of HIVE Digital Technologies from $6.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, November 14th. StockNews.com raised shares of HIVE Digital Technologies to a “sell” rating in a research report on Tuesday, December 3rd. Finally, 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.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Lifeworks Advisors LLC bought a new stake in shares of HIVE Digital Technologies in the 3rd quarter worth approximately $35,000. Vanguard Personalized Indexing Management LLC acquired a new position in HIVE Digital Technologies during the 2nd quarter valued at about $36,000. Gladstone Institutional Advisory LLC bought a new position in HIVE Digital Technologies in the 3rd quarter worth about $44,000. Quadrature Capital Ltd acquired a new stake in shares of HIVE Digital Technologies in the third quarter valued at approximately $50,000. Finally, Wellington Management Group LLP acquired a new position in shares of HIVE Digital Technologies during the third quarter worth approximately $120,000. Institutional investors and hedge funds own 24.42% of the company’s stock.

HIVE Digital Technologies Stock Performance

Shares of NASDAQ:HIVE opened at $2.91 on Friday. The firm has a market capitalization of $399.54 million, a PE ratio of -20.78 and a beta of 3.39. HIVE Digital Technologies has a 12 month low of $2.18 and a 12 month high of $5.54. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.56 and a quick ratio of 5.56. The business has a 50-day moving average of $3.93 and a two-hundred day moving average of $3.48.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.03. HIVE Digital Technologies had a negative net margin of 12.04% and a negative return on equity of 10.78%. The company had revenue of $22.65 million during the quarter, compared to the consensus estimate of $25.32 million. During the same period in the previous year, the firm earned ($0.29) earnings per share. As a group, research analysts forecast that HIVE Digital Technologies will post -0.33 earnings per share 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.