Analysts Set HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Target Price at $8.08

HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Get Free Report) has been assigned an average rating of "Buy" from the nine brokerages that are currently covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $8.08.

A number of research firms recently weighed in on HIVE. HC Wainwright reissued a "buy" rating and issued a $10.00 target price (up previously from $8.00) on shares of HIVE Digital Technologies in a research note on Thursday, February 13th. Keefe, Bruyette & Woods assumed coverage on HIVE Digital Technologies in a research note on Wednesday, January 8th. They issued an "outperform" rating on the stock. Canaccord Genuity Group increased their target price on HIVE Digital Technologies from $8.00 to $9.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Roth Mkm began coverage on HIVE Digital Technologies in a research note on Thursday, December 19th. They issued a "buy" rating and a $7.50 price target on the stock. Finally, StockNews.com upgraded HIVE Digital Technologies to a "sell" rating in a research note on Tuesday, January 14th.

Hedge Funds Weigh In On HIVE Digital Technologies

Institutional investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC increased its stake in shares of HIVE Digital Technologies by 332.8% in the fourth quarter. Cubist Systematic Strategies LLC now owns 962,677 shares of the company's stock valued at $2,744,000 after buying an additional 740,247 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in HIVE Digital Technologies in the 4th quarter valued at about $2,058,000. Van ECK Associates Corp grew its stake in shares of HIVE Digital Technologies by 17.9% during the fourth quarter. Van ECK Associates Corp now owns 4,562,489 shares of the company's stock valued at $13,003,000 after purchasing an additional 692,799 shares during the last quarter. Vident Advisory LLC increased its holdings in shares of HIVE Digital Technologies by 26.1% in the fourth quarter. Vident Advisory LLC now owns 2,831,492 shares of the company's stock valued at $8,072,000 after purchasing an additional 585,511 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in HIVE Digital Technologies by 126.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 736,287 shares of the company's stock worth $2,098,000 after purchasing an additional 411,071 shares during the last quarter. Institutional investors own 24.42% of the company's stock.

HIVE Digital Technologies Stock Performance

Shares of HIVE stock traded down $0.08 during mid-day trading on Friday, reaching $2.74. The stock had a trading volume of 7,992,320 shares, compared to its average volume of 10,489,600. HIVE Digital Technologies has a one year low of $2.18 and a one year high of $5.54. The firm has a market cap of $404.97 million, a PE ratio of -54.70 and a beta of 3.46. The firm's 50 day simple moving average is $3.09 and its 200 day simple moving average is $3.35. The company has a quick ratio of 10.41, a current ratio of 10.41 and a debt-to-equity ratio of 0.03.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last issued its earnings results on Tuesday, February 11th. The company reported ($0.06) EPS for the quarter, topping 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, analysts forecast that HIVE Digital Technologies will post -0.33 EPS for the current 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.