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

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) has been given a consensus recommendation of “Buy” by the ten research firms that are covering the stock, Marketbeat reports. Eight analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $7.64.

HIVE has been the topic of several research analyst reports. Keefe, Bruyette & Woods initiated coverage on shares of HIVE Digital Technologies in a research note on Wednesday, January 8th. They set an “outperform” rating on the stock. Canaccord Genuity Group upped their price objective on shares of HIVE Digital Technologies from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Roth Mkm initiated coverage on shares of HIVE Digital Technologies in a research note on Thursday, December 19th. They set a “buy” rating and a $7.50 price objective on the stock. StockNews.com raised shares of HIVE Digital Technologies to a “sell” rating in a research note on Tuesday, January 14th. Finally, Roth Capital raised shares of HIVE Digital Technologies to a “strong-buy” rating in a research note on Wednesday, December 18th.

Institutional Trading of HIVE Digital Technologies

Hedge funds have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in HIVE Digital Technologies in the fourth quarter valued at approximately $26,000. Lifeworks Advisors LLC acquired a new position in HIVE Digital Technologies in the third quarter valued at approximately $35,000. Wells Fargo & Company MN lifted its holdings in HIVE Digital Technologies by 60.9% in the fourth quarter. Wells Fargo & Company MN now owns 15,320 shares of the company’s stock valued at $44,000 after buying an additional 5,800 shares during the period. Quadrature Capital Ltd acquired a new position in HIVE Digital Technologies in the third quarter valued at approximately $50,000. Finally, Franklin Resources Inc. acquired a new position in HIVE Digital Technologies in the fourth quarter valued at approximately $53,000. 24.42% of the stock is owned by institutional investors.

HIVE Digital Technologies Stock Performance

NASDAQ:HIVE opened at $1.75 on Thursday. HIVE Digital Technologies has a 12-month low of $1.65 and a 12-month high of $5.54. The company has a quick ratio of 10.41, a current ratio of 10.41 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $276.66 million, a PE ratio of -35.00 and a beta of 3.51. The firm has a 50-day moving average price of $2.61 and a 200 day moving average price of $3.22.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.05. HIVE Digital Technologies had a negative net margin of 5.45% and a negative return on equity of 8.95%. Research analysts anticipate that HIVE Digital Technologies will post -0.32 earnings per share for the current fiscal year.

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.