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

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) have been given a consensus rating of “Buy” by the nine ratings firms that are currently covering the stock, Marketbeat.com reports. Seven investment 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 target among brokerages that have issued ratings on the stock in the last year is $7.42.

HIVE has been the subject of several analyst reports. StockNews.com upgraded shares of HIVE Digital Technologies to a “sell” rating in a research note on Tuesday, January 14th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $9.00 price target on shares of HIVE Digital Technologies in a research note on Tuesday, November 19th. Northland Securities increased their price target on HIVE Digital Technologies from $5.50 to $7.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Canaccord Genuity Group lifted their price objective on HIVE Digital Technologies from $6.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Roth Capital upgraded HIVE Digital Technologies to a “strong-buy” rating in a research report on Wednesday, December 18th.

Institutional Investors Weigh In On HIVE Digital Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in HIVE. XTX Topco Ltd bought a new position in HIVE Digital Technologies in the 3rd quarter valued at approximately $463,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of HIVE Digital Technologies by 48.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 325,216 shares of the company’s stock worth $1,018,000 after purchasing an additional 106,103 shares during the period. State Street Corp grew its stake in shares of HIVE Digital Technologies by 2.9% in the third quarter. State Street Corp now owns 3,214,101 shares of the company’s stock worth $10,060,000 after purchasing an additional 91,056 shares during the last quarter. Centiva Capital LP acquired a new stake in HIVE Digital Technologies in the third quarter valued at $235,000. Finally, Virtu Financial LLC lifted its holdings in HIVE Digital Technologies by 527.9% during the 3rd quarter. Virtu Financial LLC now owns 71,990 shares of the company’s stock worth $225,000 after buying an additional 60,524 shares during the period. 24.42% of the stock is owned by institutional investors.

HIVE Digital Technologies Trading Down 0.6 %

Shares of NASDAQ:HIVE opened at $3.09 on Wednesday. The stock has a market cap of $445.76 million, a PE ratio of -22.07 and a beta of 3.46. The company has a quick ratio of 5.56, a current 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 business has a 50 day moving average of $3.51 and a 200-day moving average of $3.47.

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