HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Receives $7.64 Consensus PT from Analysts

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Get Free Report) have received a consensus recommendation of "Buy" from the ten ratings firms that are covering the firm, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $7.64.

A number of equities research analysts have commented on the stock. HC Wainwright restated a "buy" rating and set a $10.00 target price (up previously from $8.00) on shares of HIVE Digital Technologies in a research note on Thursday, February 13th. Canaccord Genuity Group restated a "buy" rating and set a $9.00 target price on shares of HIVE Digital Technologies in a research note on Wednesday, March 26th. Roth Mkm started coverage on HIVE Digital Technologies in a research note on Thursday, December 19th. They issued a "buy" rating and a $7.50 price target for the company. Rosenblatt Securities started coverage on HIVE Digital Technologies in a research note on Friday, March 7th. They issued a "buy" rating and a $6.00 price objective for the company. Finally, Roth Capital upgraded HIVE Digital Technologies to a "strong-buy" rating in a research report on Wednesday, December 18th.

Institutional Investors Weigh In On HIVE Digital Technologies

A number of hedge funds have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in HIVE Digital Technologies in the 4th quarter worth approximately $26,000. Wells Fargo & Company MN grew its holdings in shares of 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 purchasing an additional 5,800 shares in the last quarter. Lifeworks Advisors LLC increased its position in HIVE Digital Technologies by 46.2% in the fourth quarter. Lifeworks Advisors LLC now owns 16,307 shares of the company's stock worth $46,000 after purchasing an additional 5,152 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in HIVE Digital Technologies during the third quarter valued at $50,000. Finally, Franklin Resources Inc. bought a new position in HIVE Digital Technologies during the fourth quarter valued at $53,000. 24.42% of the stock is currently owned by hedge funds and other institutional investors.

HIVE Digital Technologies Stock Performance

HIVE Digital Technologies stock traded up $0.05 during trading on Monday, reaching $1.48. The company had a trading volume of 5,934,733 shares, compared to its average volume of 5,964,028. The firm has a market capitalization of $245.11 million, a price-to-earnings ratio of -29.60 and a beta of 3.55. 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 simple moving average is $1.99 and its 200 day simple moving average is $3.00. HIVE Digital Technologies has a 52 week low of $1.26 and a 52 week high of $5.54.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last posted its quarterly earnings data 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%. Sell-side 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.