Brokerages Set HIVE Digital Technologies Ltd. (NASDAQ:HIVE) PT at $5.70

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) have earned a consensus recommendation of “Buy” from the six analysts that are covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $5.70.

A number of research analysts have commented on HIVE shares. StockNews.com raised shares of HIVE Digital Technologies to a “sell” rating in a research report on Sunday, June 9th. Northland Capmk upgraded shares of HIVE Digital Technologies to a “strong-buy” rating in a report on Thursday. Canaccord Genuity Group reiterated a “buy” rating and issued a $6.00 target price on shares of HIVE Digital Technologies in a report on Wednesday, August 21st. B. Riley started coverage on HIVE Digital Technologies in a research report on Friday, July 19th. They issued a “buy” rating and a $6.00 target price on the stock. Finally, Northland Securities started coverage on HIVE Digital Technologies in a research report on Thursday. They set an “outperform” rating and a $5.50 price target for the company.

Hedge Funds Weigh In On HIVE Digital Technologies

Institutional investors have recently modified their holdings of the business. Chesapeake Capital Corp IL acquired a new position in shares of HIVE Digital Technologies during the fourth quarter worth about $92,000. Van ECK Associates Corp lifted its stake in HIVE Digital Technologies by 56.0% in the first quarter. Van ECK Associates Corp now owns 2,876,374 shares of the company’s stock worth $9,693,000 after acquiring an additional 1,032,672 shares during the last quarter. Scotia Capital Inc. acquired a new position in HIVE Digital Technologies during the 4th quarter worth approximately $64,000. Quadrature Capital Ltd purchased a new stake in shares of HIVE Digital Technologies in the 4th quarter valued at approximately $458,000. Finally, Impact Partnership Wealth LLC increased its position in shares of HIVE Digital Technologies by 202.4% in the 2nd quarter. Impact Partnership Wealth LLC now owns 48,945 shares of the company’s stock valued at $151,000 after purchasing an additional 32,760 shares during the last quarter. Institutional investors and hedge funds own 24.42% of the company’s stock.

HIVE Digital Technologies Stock Performance

HIVE opened at $3.11 on Thursday. The stock has a market capitalization of $366.10 million, a PE ratio of -5.27 and a beta of 3.48. HIVE Digital Technologies has a one year low of $2.18 and a one year high of $5.74. The company has a debt-to-equity ratio of 0.06, a quick ratio of 7.35 and a current ratio of 7.35. The business’s 50 day moving average price is $3.25 and its 200 day moving average price is $3.05.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.08) EPS for the quarter, meeting the consensus estimate of ($0.08). The business had revenue of $32.24 million for the quarter, compared to analyst estimates of $31.85 million. HIVE Digital Technologies had a negative return on equity of 20.88% and a negative net margin of 25.74%. As a group, equities research analysts expect that HIVE Digital Technologies will post -0.28 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.