Brokerages Set HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Target Price at $7.42

HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Get Free Report) has received an average rating of "Buy" from the nine analysts that are currently covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $7.42.

Several research analysts recently weighed in on the stock. Canaccord Genuity Group boosted their price target on shares of HIVE Digital Technologies from $6.00 to $7.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Roth Capital upgraded HIVE Digital Technologies to a "strong-buy" rating in a research note on Wednesday, December 18th. HC Wainwright reaffirmed a "buy" rating and set a $8.00 price target on shares of HIVE Digital Technologies in a research report on Tuesday, December 3rd. Northland Securities boosted their price objective on HIVE Digital Technologies from $5.50 to $7.00 and gave the stock an "outperform" rating in a research report on Thursday, November 14th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $9.00 target price on shares of HIVE Digital Technologies in a research report on Tuesday, November 19th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. XTX Topco Ltd bought a new position in HIVE Digital Technologies during the third quarter worth about $463,000. Charles Schwab Investment Management Inc. lifted its stake in shares of HIVE Digital Technologies by 48.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 325,216 shares of the company's stock valued at $1,018,000 after buying an additional 106,103 shares in the last quarter. State Street Corp lifted its stake in shares of HIVE Digital Technologies by 2.9% during the 3rd quarter. State Street Corp now owns 3,214,101 shares of the company's stock valued at $10,060,000 after buying an additional 91,056 shares in the last quarter. Centiva Capital LP bought a new position in HIVE Digital Technologies in the 3rd quarter worth approximately $235,000. Finally, Virtu Financial LLC grew its stake in HIVE Digital Technologies by 527.9% in the 3rd quarter. Virtu Financial LLC now owns 71,990 shares of the company's stock valued at $225,000 after buying an additional 60,524 shares in the last quarter. Institutional investors own 24.42% of the company's stock.

HIVE Digital Technologies Stock Up 1.0 %

NASDAQ HIVE traded up $0.03 during trading hours on Wednesday, hitting $3.15. The company's stock had a trading volume of 9,182,722 shares, compared to its average volume of 10,204,909. The company has a current ratio of 5.56, a quick ratio of 5.56 and a debt-to-equity ratio of 0.06. The company's 50-day simple moving average is $3.56 and its two-hundred day simple moving average is $3.47. The company has a market capitalization of $454.42 million, a PE ratio of -22.50 and a beta of 3.46. HIVE Digital Technologies has a 52 week low of $2.18 and a 52 week high of $5.54.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $25.32 million. During the same quarter in the previous year, the firm earned ($0.29) earnings per share. Research analysts anticipate that HIVE Digital Technologies will post -0.34 EPS 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.