Analysts Set HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Target Price at $8.21

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) have earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $8.2143.

A number of research analysts have recently commented on HIVE shares. HC Wainwright raised their target price on HIVE Digital Technologies from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Canaccord Genuity Group reiterated a “buy” rating and issued a $10.00 price objective on shares of HIVE Digital Technologies in a report on Friday, November 21st. Weiss Ratings reissued a “sell (d+)” rating on shares of HIVE Digital Technologies in a research report on Friday, October 31st. Northland Securities set a $7.50 target price on shares of HIVE Digital Technologies in a research report on Tuesday, October 7th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $10.00 price target on shares of HIVE Digital Technologies in a research note on Tuesday, November 18th.

Hedge Funds Weigh In On HIVE Digital Technologies

Large investors have recently made changes to their positions in the business. Ethos Financial Group LLC purchased a new stake in shares of HIVE Digital Technologies in the 2nd quarter worth approximately $36,000. Vanguard Personalized Indexing Management LLC bought a new stake in HIVE Digital Technologies in the second quarter worth $38,000. HBW Advisory Services LLC bought a new position in shares of HIVE Digital Technologies during the third quarter valued at $40,000. WMG Financial Advisors LLC purchased a new position in shares of HIVE Digital Technologies in the 3rd quarter worth about $40,000. Finally, PKS Advisory Services LLC purchased a new position in shares of HIVE Digital Technologies in the 3rd quarter worth about $44,000. 24.42% of the stock is currently owned by hedge funds and other institutional investors.

HIVE Digital Technologies Price Performance

Shares of NASDAQ HIVE opened at $3.11 on Wednesday. HIVE Digital Technologies has a 1 year low of $1.26 and a 1 year high of $7.84. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.55 and a quick ratio of 2.55. The company’s 50-day moving average is $3.31 and its 200 day moving average is $3.36. The stock has a market capitalization of $755.85 million, a P/E ratio of -14.81 and a beta of 3.58.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its quarterly earnings data on Friday, November 14th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The company had revenue of $83.37 million during the quarter, compared to analysts’ expectations of $80.62 million. HIVE Digital Technologies had a negative return on equity of 14.15% and a negative net margin of 16.18%. On average, sell-side analysts expect that HIVE Digital Technologies will post -0.32 earnings per share for the current year.

HIVE Digital Technologies Company Profile

HIVE Digital Technologies Ltd is a publicly traded blockchain infrastructure company that specializes in the mining of digital assets such as Bitcoin and Ethereum. Using high-performance GPU and ASIC hardware, HIVE deploys proprietary mining rigs across multiple data centers to validate transactions on major blockchain networks. The company’s operations are designed to maximize hashing power while maintaining efficiency and uptime, enabling it to build and hold a portfolio of mined cryptocurrencies.

Headquartered in Vancouver, British Columbia, HIVE Digital operates data center facilities in North America and Europe, including Canada, Sweden and Iceland.