HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Receives $5.70 Consensus Price Target from Brokerages

HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Get Free Report) has been given a consensus rating of "Buy" by the six analysts that are currently covering the firm, MarketBeat Ratings reports. Five 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 updated their coverage on the stock in the last year is $5.70.

A number of brokerages have recently commented on HIVE. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $6.00 price target on shares of HIVE Digital Technologies in a research note on Wednesday, August 21st. B. Riley began coverage on HIVE Digital Technologies in a research note on Friday, July 19th. They issued a "buy" rating and a $6.00 price target for the company. Northland Capmk raised HIVE Digital Technologies to a "strong-buy" rating in a research note on Thursday, September 19th. HC Wainwright raised HIVE Digital Technologies from a "neutral" rating to a "buy" rating and upped their price target for the company from $4.00 to $5.00 in a research note on Thursday, August 15th. Finally, Northland Securities began coverage on HIVE Digital Technologies in a research note on Thursday, September 19th. They issued an "outperform" rating and a $5.50 price target for the company.

Institutional Investors Weigh In On HIVE Digital Technologies

Several hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp lifted its holdings in HIVE Digital Technologies by 35.4% during the 2nd quarter. Van ECK Associates Corp now owns 3,894,605 shares of the company's stock valued at $11,995,000 after purchasing an additional 1,018,231 shares during the last quarter. MMCAP International Inc. SPC acquired a new stake in shares of HIVE Digital Technologies during the first quarter worth $11,227,000. Vident Advisory LLC lifted its holdings in shares of HIVE Digital Technologies by 78.6% during the first quarter. Vident Advisory LLC now owns 1,737,308 shares of the company's stock worth $5,856,000 after buying an additional 764,387 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of HIVE Digital Technologies during the fourth quarter worth $458,000. Finally, Impact Partnership Wealth LLC lifted its holdings in shares of HIVE Digital Technologies by 202.4% during the second quarter. Impact Partnership Wealth LLC now owns 48,945 shares of the company's stock worth $151,000 after buying an additional 32,760 shares in the last quarter. Institutional investors and hedge funds own 24.42% of the company's stock.

HIVE Digital Technologies Price Performance

NASDAQ HIVE traded up $0.20 on Monday, hitting $3.35. 4,372,194 shares of the company were exchanged, compared to its average volume of 3,303,933. The firm has a 50 day moving average of $3.05 and a two-hundred day moving average of $3.04. The company has a market cap of $394.35 million, a P/E ratio of -5.68 and a beta of 3.48. The company has a current ratio of 7.35, a quick ratio of 7.35 and a debt-to-equity ratio of 0.06. HIVE Digital Technologies has a 1-year low of $2.18 and a 1-year high of $5.74.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting 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 the consensus estimate of $31.85 million. On average, equities analysts predict that HIVE Digital Technologies will post -0.28 EPS 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.