HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Given Consensus Rating of “Buy” by Brokerages

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) has been assigned a consensus recommendation of “Buy” from the six analysts that are currently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $7.40.

HIVE has been the subject of several recent research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $9.00 price target on shares of HIVE Digital Technologies in a research note on Tuesday, November 19th. HC Wainwright restated a “buy” rating and set a $8.00 target price on shares of HIVE Digital Technologies in a research note on Tuesday, December 3rd. Northland Securities upped their target price 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, December 3rd. Finally, Northland Capmk upgraded HIVE Digital Technologies to a “strong-buy” rating in a research note on Thursday, September 19th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HIVE. Van ECK Associates Corp lifted its stake in shares of HIVE Digital Technologies by 35.4% in the 2nd quarter. Van ECK Associates Corp now owns 3,894,605 shares of the company’s stock valued at $11,995,000 after acquiring an additional 1,018,231 shares during the last quarter. Impact Partnership Wealth LLC lifted its stake in shares of HIVE Digital Technologies by 202.4% in the 2nd quarter. Impact Partnership Wealth LLC now owns 48,945 shares of the company’s stock valued at $151,000 after acquiring an additional 32,760 shares during the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in shares of HIVE Digital Technologies in the 2nd quarter valued at $36,000. Gladstone Institutional Advisory LLC bought a new position in shares of HIVE Digital Technologies in the 3rd quarter valued at $44,000. Finally, Lifeworks Advisors LLC bought a new position in shares of HIVE Digital Technologies in the 3rd quarter valued at $35,000. 24.42% of the stock is currently owned by institutional investors.

HIVE Digital Technologies Trading Down 7.1 %

Shares of HIVE stock opened at $4.04 on Tuesday. 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 stock has a market cap of $534.53 million, a P/E ratio of -28.86 and a beta of 3.40. The stock has a 50 day simple moving average of $3.86 and a 200 day simple moving average of $3.41. HIVE Digital Technologies has a 1 year low of $2.18 and a 1 year high of $5.74.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its quarterly 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. The business had revenue of $22.65 million during the quarter, compared to analysts’ expectations of $25.32 million. HIVE Digital Technologies had a negative return on equity of 10.78% and a negative net margin of 12.04%. During the same period in the previous year, the company posted ($0.29) earnings per share. On average, research analysts predict that HIVE Digital Technologies will post -0.33 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.