Brokerages Set HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Price Target at $7.42

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) has been given an average rating of “Buy” by the nine research firms that are covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $7.42.

HIVE has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods initiated coverage on shares of HIVE Digital Technologies in a report on Wednesday, January 8th. They set an “outperform” rating on the stock. StockNews.com raised shares of HIVE Digital Technologies to a “sell” rating in a report on Tuesday, January 14th. Roth Mkm initiated coverage on shares of HIVE Digital Technologies in a report on Thursday, December 19th. They issued a “buy” rating and a $7.50 price target on the stock. Roth Capital raised shares of HIVE Digital Technologies to a “strong-buy” rating in a report on Wednesday, December 18th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price target on shares of HIVE Digital Technologies in a report on Tuesday, December 3rd.

HIVE Digital Technologies Price Performance

NASDAQ HIVE opened at $2.79 on Wednesday. The firm’s fifty day simple moving average is $3.45 and its two-hundred day simple moving average is $3.46. The company has a current ratio of 5.56, a quick ratio of 5.56 and a debt-to-equity ratio of 0.06. HIVE Digital Technologies has a 12-month low of $2.18 and a 12-month high of $5.54. The firm has a market capitalization of $402.49 million, a P/E ratio of -19.93 and a beta of 3.46.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. The firm had revenue of $22.65 million for the quarter, compared to analyst estimates of $25.32 million. HIVE Digital Technologies had a negative net margin of 12.04% and a negative return on equity of 10.78%. During the same period in the previous year, the company earned ($0.29) earnings per share. Analysts forecast that HIVE Digital Technologies will post -0.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Lifeworks Advisors LLC acquired a new position in shares of HIVE Digital Technologies in the third quarter worth about $35,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of HIVE Digital Technologies in the second quarter worth about $36,000. Gladstone Institutional Advisory LLC acquired a new position in shares of HIVE Digital Technologies in the third quarter worth about $44,000. Quadrature Capital Ltd acquired a new position in shares of HIVE Digital Technologies in the third quarter worth about $50,000. Finally, Tobam raised its position in shares of HIVE Digital Technologies by 198.6% in the fourth quarter. Tobam now owns 19,060 shares of the company’s stock worth $54,000 after acquiring an additional 12,676 shares during the period. Institutional investors and hedge funds own 24.42% of the company’s stock.

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.