HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Receives $6.93 Average PT from Analysts

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) have been assigned an average rating of “Moderate Buy” from the ten research firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $6.9286.

A number of research firms have weighed in on HIVE. Roth Capital upped their price target on HIVE Digital Technologies from $6.00 to $7.50 and gave the stock a “buy” rating in a research report on Tuesday, August 26th. HC Wainwright cut their price target on HIVE Digital Technologies from $9.00 to $6.00 and set a “buy” rating for the company in a report on Friday, June 27th. Rosenblatt Securities cut their price target on HIVE Digital Technologies from $5.50 to $5.00 and set a “buy” rating for the company in a report on Friday, June 27th. Canaccord Genuity Group increased their price objective on HIVE Digital Technologies from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Finally, Zacks Research upgraded HIVE Digital Technologies to a “hold” rating in a research report on Friday, August 8th.

HIVE Digital Technologies Price Performance

Shares of HIVE opened at $4.45 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.42 and a current ratio of 3.42. The stock has a 50 day simple moving average of $2.95 and a 200 day simple moving average of $2.23. HIVE Digital Technologies has a 52-week low of $1.26 and a 52-week high of $5.54. The firm has a market capitalization of $1.05 billion, a PE ratio of -22.25 and a beta of 3.51.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating 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 business had revenue of $45.61 million during the quarter, compared to analyst estimates of $45.16 million. Sell-side analysts predict that HIVE Digital Technologies will post -0.32 EPS for the current fiscal year.

Institutional Trading of HIVE Digital Technologies

Several large investors have recently modified their holdings of the stock. Vident Advisory LLC grew its holdings in shares of HIVE Digital Technologies by 53.0% during the 2nd quarter. Vident Advisory LLC now owns 3,766,446 shares of the company’s stock worth $6,780,000 after purchasing an additional 1,305,057 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of 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 worth $3,233,000 after purchasing an additional 915,105 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of 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 worth $2,006,000 after purchasing an additional 647,159 shares in the last quarter. Geode Capital Management LLC boosted its stake in HIVE Digital Technologies by 11.0% in the second 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. Finally, Generali Investments CEE investicni spolecnost a.s. boosted its stake in HIVE Digital Technologies by 45.4% in the second quarter. Generali Investments CEE investicni spolecnost a.s. now owns 1,244,230 shares of the company’s stock valued at $2,240,000 after buying an additional 388,280 shares in the last quarter. 24.42% of the stock is owned by institutional investors and hedge funds.

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.