HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) have earned an average recommendation of “Moderate Buy” from the eight analysts that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $6.95.

A number of equities analysts have weighed in on the company. Wall Street Zen downgraded HIVE Digital Technologies from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 12th. Rosenblatt Securities lifted their price objective on shares of HIVE Digital Technologies from $5.50 to $6.00 and gave the company a “buy” rating in a report on Thursday, August 20th. HC Wainwright reissued a “buy” rating and issued a $7.00 price objective on shares of HIVE Digital Technologies in a research report on Monday, August 17th. Chardan Capital restated a “buy” rating and set a $7.50 target price on shares of HIVE Digital Technologies in a report on Wednesday, September 16th. Finally, Weiss Ratings raised shares of HIVE Digital Technologies from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, August 14th.

HIVE Digital Technologies Price Performance

HIVE stock opened at $2.37 on Friday. The stock has a 50-day moving average price of $2.92 and a two-hundred day moving average price of $3.07. The stock has a market cap of $654.64 million, a PE ratio of -1.84 and a beta of 3.76. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.85. HIVE Digital Technologies has a 1 year low of $1.73 and a 1 year high of $7.13.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings results on Friday, August 14th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.33). HIVE Digital Technologies had a negative net margin of 98.49% and a negative return on equity of 31.98%. The firm had revenue of $79.12 million during the quarter, compared to analyst estimates of $81.72 million. During the same period in the prior year, the business earned $0.18 EPS. Equities analysts forecast that HIVE Digital Technologies will post -0.61 EPS for the current fiscal year.

Insider Activity at HIVE Digital Technologies

In related news, Director Dave Perrill sold 100,000 shares of HIVE Digital Technologies stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $2.72, for a total value of $272,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Verity Asset Management Inc. bought a new stake in shares of HIVE Digital Technologies during the 2nd quarter worth approximately $44,000. Caitong International Asset Management Co. Ltd grew its stake in shares of HIVE Digital Technologies by 98.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 13,996 shares of the company’s stock valued at $36,000 after buying an additional 6,956 shares in the last quarter. Private Advisor Group LLC bought a new position in shares of HIVE Digital Technologies in the first quarter valued at $27,000. Heck Capital Advisors LLC bought a new position in shares of HIVE Digital Technologies in the second quarter valued at $67,000. Finally, TD Waterhouse Canada Inc. increased its holdings in HIVE Digital Technologies by 35.9% during the second quarter. TD Waterhouse Canada Inc. now owns 18,476 shares of the company’s stock worth $64,000 after buying an additional 4,877 shares during the last quarter. 24.42% of the stock is currently owned by institutional investors.

About HIVE Digital Technologies

HIVE Digital Technologies Ltd. is a digital-asset and data-center infrastructure company focused primarily on the mining of Bitcoin. The company operates specialized computing facilities designed to support energy-intensive digital-asset mining and has also been developing capabilities for high-performance computing and artificial-intelligence applications.

HIVE was founded in 2017 and was formerly known as HIVE Blockchain Technologies Ltd. Its operations have historically included data centers in Canada, Sweden and Iceland, and the company has expanded its infrastructure footprint internationally, including through development activities in Paraguay.