Analysts Set HIVE Digital Technologies Ltd. (NASDAQ:HIVE) PT at $6.90

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) have been assigned a consensus rating of “Moderate Buy” from the ten research firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a 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 $6.9545.

Several brokerages have recently issued reports on HIVE. Rosenblatt Securities raised their price target on shares of HIVE Digital Technologies from $5.00 to $5.50 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. Keefe, Bruyette & Woods upped their price objective on HIVE Digital Technologies from $3.00 to $5.00 and gave the company a “market perform” rating in a research note on Friday, June 5th. Canaccord Genuity Group reissued a “buy” rating and set a $10.00 price objective on shares of HIVE Digital Technologies in a report on Friday, June 5th. HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of HIVE Digital Technologies in a research report on Wednesday, June 3rd. Finally, Chardan Capital started coverage on HIVE Digital Technologies in a research note on Monday. They issued a “buy” rating and a $7.50 target price on the stock.

HIVE Digital Technologies Price Performance

HIVE opened at $2.84 on Friday. HIVE Digital Technologies has a fifty-two week low of $1.73 and a fifty-two week high of $7.84. The firm has a 50-day moving average of $3.73 and a 200 day moving average of $2.91. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market cap of $751.04 million, a P/E ratio of -5.07 and a beta of 3.77.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its quarterly earnings data on Tuesday, June 2nd. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.07). The company had revenue of $71.82 million during the quarter, compared to the consensus estimate of $79.99 million. HIVE Digital Technologies had a negative return on equity of 23.12% and a negative net margin of 49.21%. On average, research analysts expect that HIVE Digital Technologies will post -0.74 EPS for the current year.

Insider Buying and Selling

In related news, COO Luke Rossy sold 215,000 shares of HIVE Digital Technologies stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $3.97, for a total value of $853,550.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dave Perrill sold 175,000 shares of the business’s stock in a transaction dated Friday, June 19th. The shares were sold at an average price of $4.69, for a total value of $820,750.00. Following the completion of the sale, the director owned 162,500 shares in the company, valued at $762,125. This represents a 51.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 681,700 shares of company stock valued at $2,937,876.

Institutional Trading of HIVE Digital Technologies

Several hedge funds and other institutional investors have recently modified their holdings of HIVE. ACT Wealth Management LLC increased its holdings in HIVE Digital Technologies by 33.3% during the 4th quarter. ACT Wealth Management LLC now owns 16,000 shares of the company’s stock worth $41,000 after acquiring an additional 4,000 shares during the period. SBI Securities Co. Ltd. boosted its holdings in HIVE Digital Technologies by 23.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 26,148 shares of the company’s stock valued at $67,000 after purchasing an additional 4,964 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in HIVE Digital Technologies by 98.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 13,996 shares of the company’s stock valued at $36,000 after purchasing an additional 6,956 shares during the period. Captrust Financial Advisors grew its position in shares of HIVE Digital Technologies by 10.9% during the 4th quarter. Captrust Financial Advisors now owns 73,849 shares of the company’s stock valued at $191,000 after purchasing an additional 7,271 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of HIVE Digital Technologies by 6.4% during the 2nd quarter. Invesco Ltd. now owns 152,782 shares of the company’s stock valued at $275,000 after purchasing an additional 9,241 shares in the last quarter. Institutional investors own 24.42% of the company’s stock.

About HIVE Digital Technologies

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.