HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Given Average Rating of “Buy” by Brokerages

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) have received a consensus recommendation of “Buy” from the six ratings firms that are presently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $5.70.

Several brokerages have issued reports on HIVE. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $6.00 price objective on shares of HIVE Digital Technologies in a research report on Wednesday, August 21st. HC Wainwright raised shares of HIVE Digital Technologies from a “neutral” rating to a “buy” rating and raised their price target for the company from $4.00 to $5.00 in a report on Thursday, August 15th. Northland Securities started coverage on shares of HIVE Digital Technologies in a research note on Thursday, September 19th. They set an “outperform” rating and a $5.50 price target on the stock. B. Riley started coverage on shares of HIVE Digital Technologies in a research report on Friday, July 19th. They issued a “buy” rating and a $6.00 price objective for the company. Finally, Northland Capmk raised HIVE Digital Technologies to a “strong-buy” rating in a research report on Thursday, September 19th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd acquired a new stake in shares of HIVE Digital Technologies in the 4th quarter valued at about $458,000. Sloy Dahl & Holst LLC acquired a new stake in HIVE Digital Technologies during the first quarter valued at approximately $41,000. Van ECK Associates Corp lifted its holdings in HIVE Digital Technologies by 56.0% during the 1st quarter. Van ECK Associates Corp now owns 2,876,374 shares of the company’s stock worth $9,693,000 after buying an additional 1,032,672 shares during the last quarter. MMCAP International Inc. SPC bought a new position in HIVE Digital Technologies during the 1st quarter worth approximately $11,227,000. Finally, Vident Advisory LLC grew its position in shares of HIVE Digital Technologies by 78.6% in the 1st quarter. Vident Advisory LLC now owns 1,737,308 shares of the company’s stock worth $5,856,000 after acquiring an additional 764,387 shares in the last quarter. 24.42% of the stock is owned by institutional investors and hedge funds.

HIVE Digital Technologies Stock Performance

NASDAQ:HIVE opened at $3.81 on Monday. The firm’s fifty day simple moving average is $3.11 and its 200 day simple moving average is $3.05. The company has a current ratio of 7.35, a quick ratio of 7.35 and a debt-to-equity ratio of 0.06. HIVE Digital Technologies has a twelve month low of $2.18 and a twelve month high of $5.74. The firm has a market capitalization of $448.50 million, a price-to-earnings ratio of -6.46 and a beta of 3.48.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.08) EPS for the quarter, hitting analysts’ consensus estimates of ($0.08). HIVE Digital Technologies had a negative return on equity of 20.88% and a negative net margin of 25.74%. The company had revenue of $32.24 million for the quarter, compared to analysts’ expectations of $31.85 million. As a group, equities research analysts expect that HIVE Digital Technologies will post -0.28 earnings per share for the current fiscal year.

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.