Analysts Set HIVE Digital Technologies Ltd. (NASDAQ:HIVE) PT at $7.71

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) has earned an average recommendation of “Moderate Buy” from the eleven research firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $7.7143.

HIVE has been the subject of several research reports. Wall Street Zen raised HIVE Digital Technologies from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 16th. B. Riley reissued a “buy” rating on shares of HIVE Digital Technologies in a research report on Wednesday, October 22nd. Northland Securities set a $7.50 target price on HIVE Digital Technologies in a research report on Tuesday, October 7th. Roth Capital raised their price objective on HIVE Digital Technologies from $6.00 to $7.50 and gave the company a “buy” rating in a research report on Tuesday, August 26th. Finally, Rosenblatt Securities raised their price objective on HIVE Digital Technologies from $5.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, October 16th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vident Advisory LLC increased its position in HIVE Digital Technologies by 53.0% during the 2nd quarter. Vident Advisory LLC now owns 3,766,446 shares of the company’s stock valued at $6,780,000 after buying an additional 1,305,057 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in HIVE Digital Technologies by 104.2% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,793,562 shares of the company’s stock valued at $3,233,000 after buying an additional 915,105 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. increased its position in HIVE Digital Technologies by 20.0% during the 3rd quarter. Generali Investments CEE investicni spolecnost a.s. now owns 1,492,481 shares of the company’s stock valued at $6,015,000 after buying an additional 248,251 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in HIVE Digital Technologies by 87.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,383,446 shares of the company’s stock valued at $2,006,000 after buying an additional 647,159 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in HIVE Digital Technologies by 11.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,296,531 shares of the company’s stock valued at $2,334,000 after buying an additional 128,760 shares in the last quarter. Institutional investors own 24.42% of the company’s stock.

HIVE Digital Technologies Stock Down 5.6%

Shares of NASDAQ:HIVE opened at $5.57 on Friday. HIVE Digital Technologies has a 52-week low of $1.26 and a 52-week high of $7.84. The firm has a market capitalization of $1.32 billion, a P/E ratio of -27.85 and a beta of 3.51. The stock has a 50 day moving average price of $4.26 and a 200-day moving average price of $2.77. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.42 and a current ratio of 3.42.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its earnings results on Thursday, August 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.02. HIVE Digital Technologies had a negative return on equity of 17.39% and a negative net margin of 17.47%.The firm had revenue of $45.61 million during the quarter, compared to analyst estimates of $45.16 million. As a group, equities research analysts anticipate that HIVE Digital Technologies will post -0.32 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.