HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Given Average Rating of "Buy" by Brokerages

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Get Free Report) have received an average rating of "Buy" from the seven ratings firms that are covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $6.25.

HIVE has been the subject of a number of analyst reports. B. Riley started coverage on HIVE Digital Technologies in a research note on Friday, July 19th. They set a "buy" rating and a $6.00 price objective for the company. Cantor Fitzgerald initiated coverage on HIVE Digital Technologies in a research report on Tuesday, October 29th. They set an "overweight" rating and a $9.00 target price for the company. Northland Securities initiated coverage on shares of HIVE Digital Technologies in a research report on Thursday, September 19th. They issued an "outperform" rating and a $5.50 price target on the stock. HC Wainwright upgraded shares of HIVE Digital Technologies from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $4.00 to $5.00 in a report on Thursday, August 15th. Finally, Canaccord Genuity Group reissued a "buy" rating and set a $6.00 price target on shares of HIVE Digital Technologies in a research report on Wednesday, August 21st.

Institutional Trading of HIVE Digital Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Lifeworks Advisors LLC bought a new position in shares of HIVE Digital Technologies in the third quarter valued at $35,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of HIVE Digital Technologies in the second quarter valued at approximately $36,000. Gladstone Institutional Advisory LLC bought a new position in shares of HIVE Digital Technologies during the third quarter worth approximately $44,000. Impact Partnership Wealth LLC lifted its holdings in HIVE Digital Technologies by 202.4% during the 2nd quarter. Impact Partnership Wealth LLC now owns 48,945 shares of the company's stock worth $151,000 after purchasing an additional 32,760 shares during the last quarter. Finally, Vident Advisory LLC lifted its holdings in HIVE Digital Technologies by 78.6% during the 1st quarter. Vident Advisory LLC now owns 1,737,308 shares of the company's stock worth $5,856,000 after purchasing an additional 764,387 shares during the last quarter. Institutional investors and hedge funds own 24.42% of the company's stock.

HIVE Digital Technologies Trading Up 2.9 %

NASDAQ:HIVE traded up $0.13 on Friday, hitting $4.65. 7,255,776 shares of the stock were exchanged, compared to its average volume of 3,479,052. The stock has a market capitalization of $568.42 million, a price-to-earnings ratio of -12.22 and a beta of 3.43. The company has a debt-to-equity ratio of 0.06, a quick ratio of 7.35 and a current ratio of 7.35. HIVE Digital Technologies has a 52 week low of $2.18 and a 52 week high of $5.74. The company's 50-day moving average price is $3.31 and its 200 day moving average price is $3.14.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.08) earnings per share for the quarter, meeting the consensus estimate of ($0.08). HIVE Digital Technologies had a negative net margin of 25.74% and a negative return on equity of 20.88%. The business had revenue of $32.24 million for the quarter, compared to analyst estimates of $31.85 million. On average, equities research analysts forecast that HIVE Digital Technologies will post -0.28 earnings per share for the current year.

HIVE Digital Technologies Company Profile

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.