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

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) has been assigned a consensus recommendation of “Buy” from the six research firms that are presently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $7.40.

HIVE has been the topic of a number of recent analyst reports. StockNews.com raised HIVE Digital Technologies to a “sell” rating in a research note on Tuesday. Northland Capmk upgraded shares of HIVE Digital Technologies to a “strong-buy” rating in a research report on Thursday, September 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $9.00 target price on shares of HIVE Digital Technologies in a research note on Tuesday, November 19th. Northland Securities increased their price target on shares of HIVE Digital Technologies from $5.50 to $7.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Finally, Canaccord Genuity Group raised their price target on shares of HIVE Digital Technologies from $6.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, November 14th.

HIVE Digital Technologies Trading Up 0.2 %

Shares of HIVE stock opened at $4.09 on Tuesday. The company has a market capitalization of $535.26 million, a P/E ratio of -29.21 and a beta of 3.43. HIVE Digital Technologies has a 12-month low of $2.18 and a 12-month high of $5.74. The company has a quick ratio of 5.56, a current ratio of 5.56 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average price of $3.75 and a 200 day moving average price of $3.34.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. The company had revenue of $22.65 million during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company posted ($0.29) earnings per share. Research analysts forecast that HIVE Digital Technologies will post -0.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On HIVE Digital Technologies

Several large investors have recently bought and sold shares of HIVE. Van ECK Associates Corp raised its position in shares of HIVE Digital Technologies by 35.4% during the 2nd quarter. Van ECK Associates Corp now owns 3,894,605 shares of the company’s stock valued at $11,995,000 after acquiring an additional 1,018,231 shares during the last quarter. Impact Partnership Wealth LLC increased its holdings in HIVE Digital Technologies by 202.4% in the second quarter. Impact Partnership Wealth LLC now owns 48,945 shares of the company’s stock valued at $151,000 after purchasing an additional 32,760 shares during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in HIVE Digital Technologies in the second quarter valued at about $36,000. Gladstone Institutional Advisory LLC bought a new position in HIVE Digital Technologies during the third quarter worth about $44,000. Finally, Lifeworks Advisors LLC acquired a new position in shares of HIVE Digital Technologies during the 3rd quarter worth about $35,000. 24.42% of the stock is currently 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.