HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Receives Average Rating of "Buy" from Brokerages

HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Get Free Report) has been given a consensus rating of "Buy" by the six research firms that are currently covering the company, MarketBeat.com 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 12 month price objective among brokerages that have issued a report on the stock in the last year is $7.40.

Several research analysts have recently weighed in on the company. HC Wainwright reiterated a "buy" rating and set a $8.00 price target on shares of HIVE Digital Technologies in a research note on Tuesday. Northland Securities increased their price target on HIVE Digital Technologies from $5.50 to $7.00 and gave the stock an "outperform" rating in a research note on Thursday, November 14th. StockNews.com upgraded HIVE Digital Technologies to a "sell" rating in a research note on Tuesday. Canaccord Genuity Group raised their target price on HIVE Digital Technologies from $6.00 to $7.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Finally, Northland Capmk upgraded HIVE Digital Technologies to a "strong-buy" rating in a research note on Thursday, September 19th.

HIVE Digital Technologies Trading Down 0.5 %

Shares of HIVE Digital Technologies stock traded down $0.02 on Tuesday, reaching $4.07. 7,566,890 shares of the company's stock were exchanged, compared to its average volume of 3,710,742. HIVE Digital Technologies has a 52 week low of $2.18 and a 52 week high of $5.74. The firm's 50-day moving average is $3.77 and its two-hundred day moving average is $3.35. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.56 and a quick ratio of 5.56.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates of ($0.09) by $0.03. HIVE Digital Technologies had a negative return on equity of 10.78% and a negative net margin of 12.04%. The company had revenue of $22.65 million for the quarter, compared to analyst estimates of $25.32 million. During the same period in the prior year, the firm earned ($0.29) earnings per share. Analysts forecast that HIVE Digital Technologies will post -0.31 earnings per share for the current year.

Institutional Investors Weigh In On HIVE Digital Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lifeworks Advisors LLC purchased a new position in HIVE Digital Technologies during the 3rd quarter valued at approximately $35,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of HIVE Digital Technologies in the 2nd quarter worth approximately $36,000. Gladstone Institutional Advisory LLC purchased a new position in shares of HIVE Digital Technologies in the 3rd quarter worth approximately $44,000. Quadrature Capital Ltd purchased a new position in shares of HIVE Digital Technologies in the 3rd quarter worth approximately $50,000. Finally, Wellington Management Group LLP purchased a new position in shares of HIVE Digital Technologies in the 3rd quarter worth approximately $120,000. 24.42% of the stock is owned by hedge funds and other institutional investors.

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.