HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Given Average Recommendation of "Buy" by Analysts

HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Get Free Report) has earned an average recommendation of "Buy" from the ten ratings firms that are currently covering the company, Marketbeat.com reports. Eight research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $7.64.

Several equities analysts have recently weighed in on HIVE shares. Canaccord Genuity Group increased their price target on HIVE Digital Technologies from $8.00 to $9.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. StockNews.com raised HIVE Digital Technologies to a "sell" rating in a report on Tuesday, January 14th. Roth Capital raised HIVE Digital Technologies to a "strong-buy" rating in a report on Wednesday, December 18th. Roth Mkm started coverage on HIVE Digital Technologies in a report on Thursday, December 19th. They set a "buy" rating and a $7.50 price target on the stock. Finally, Cantor Fitzgerald lowered their price target on HIVE Digital Technologies from $10.00 to $8.00 and set an "overweight" rating on the stock in a report on Tuesday, March 11th.

Institutional Investors Weigh In On HIVE Digital Technologies

Institutional investors have recently bought and sold shares of the business. State Street Corp increased its stake in HIVE Digital Technologies by 2.9% in the 3rd quarter. State Street Corp now owns 3,214,101 shares of the company's stock worth $10,060,000 after buying an additional 91,056 shares in the last quarter. Van ECK Associates Corp increased its stake in HIVE Digital Technologies by 17.9% in the 4th quarter. Van ECK Associates Corp now owns 4,562,489 shares of the company's stock worth $13,003,000 after buying an additional 692,799 shares in the last quarter. XTX Topco Ltd purchased a new stake in HIVE Digital Technologies in the 3rd quarter worth $463,000. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in HIVE Digital Technologies in the 4th quarter worth $2,058,000. Finally, Wellington Management Group LLP purchased a new stake in HIVE Digital Technologies in the 3rd quarter worth $120,000. Hedge funds and other institutional investors own 24.42% of the company's stock.

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HIVE Digital Technologies Stock Up 4.2 %

HIVE stock traded up $0.07 during midday trading on Thursday, hitting $1.74. The company's stock had a trading volume of 5,894,267 shares, compared to its average volume of 5,494,345. The company has a market cap of $275.08 million, a PE ratio of -34.80 and a beta of 3.51. HIVE Digital Technologies has a 12 month low of $1.66 and a 12 month high of $5.54. The company has a current ratio of 10.41, a quick ratio of 10.41 and a debt-to-equity ratio of 0.03. The firm's 50-day moving average is $2.64 and its 200-day moving average is $3.23.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.05. HIVE Digital Technologies had a negative return on equity of 8.95% and a negative net margin of 5.45%. On average, equities research analysts forecast 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.