Brokerages Set HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Price Target at $6.25

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) has received a consensus recommendation of “Buy” from the seven research firms that are currently covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $6.25.

HIVE has been the subject of a number of research reports. Cantor Fitzgerald initiated coverage on HIVE Digital Technologies in a research note on Tuesday, October 29th. They issued an “overweight” rating and a $9.00 price objective for the company. B. Riley assumed coverage on shares of HIVE Digital Technologies in a research report on Friday, July 19th. They issued a “buy” rating and a $6.00 price target for the company. Northland Capmk raised shares of HIVE Digital Technologies to a “strong-buy” rating in a research report on Thursday, September 19th. HC Wainwright raised shares of HIVE Digital Technologies from a “neutral” rating to a “buy” rating and upped their target price for the company from $4.00 to $5.00 in a report on Thursday, August 15th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $6.00 target price on shares of HIVE Digital Technologies in a research note on Wednesday, August 21st.

Institutional Trading of HIVE Digital Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in HIVE. Lifeworks Advisors LLC purchased a new position in HIVE Digital Technologies during the third quarter worth about $35,000. Vanguard Personalized Indexing Management LLC acquired a new position in HIVE Digital Technologies during the 2nd quarter worth approximately $36,000. Gladstone Institutional Advisory LLC purchased a new position in shares of HIVE Digital Technologies during the 3rd quarter worth approximately $44,000. Impact Partnership Wealth LLC lifted its holdings 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 buying an additional 32,760 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of HIVE Digital Technologies by 48.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 325,216 shares of the company’s stock valued at $1,018,000 after buying an additional 106,103 shares in the last quarter. Hedge funds and other institutional investors own 24.42% of the company’s stock.

HIVE Digital Technologies Price Performance

Shares of HIVE opened at $5.24 on Friday. The firm has a fifty day moving average price of $3.39 and a 200 day moving average price of $3.17. The stock has a market cap of $651.48 million, a PE ratio of -14.19 and a beta of 3.43. HIVE Digital Technologies has a 1-year low of $2.18 and a 1-year high of $5.74. The company has a debt-to-equity ratio of 0.06, a current ratio of 7.35 and a quick ratio of 7.35.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its earnings results on Monday, August 12th. The company reported ($0.08) earnings per share for the quarter, meeting the consensus estimate of ($0.08). The business had revenue of $32.24 million during the quarter, compared to the consensus estimate 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, sell-side analysts anticipate 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.