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

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) has been assigned a consensus recommendation of “Buy” from the five research firms that are currently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy rating. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $5.70.

A number of brokerages have recently weighed in on HIVE. Canaccord Genuity Group reiterated a “buy” rating and set a $6.00 target price on shares of HIVE Digital Technologies in a research note on Wednesday, August 21st. Northland Securities assumed coverage on HIVE Digital Technologies in a research report on Thursday. They set an “outperform” rating and a $5.50 price target on the stock. HC Wainwright raised HIVE Digital Technologies from a “neutral” rating to a “buy” rating and increased their price target for the stock from $4.00 to $5.00 in a research report on Thursday, August 15th. B. Riley assumed coverage on HIVE Digital Technologies in a research report on Friday, July 19th. They set a “buy” rating and a $6.00 price target on the stock. Finally, StockNews.com raised HIVE Digital Technologies to a “sell” rating in a research report on Sunday, June 9th.

HIVE Digital Technologies Price Performance

Shares of NASDAQ HIVE opened at $2.99 on Thursday. The firm has a market cap of $351.97 million, a P/E ratio of -5.07 and a beta of 3.48. 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 1-year low of $2.18 and a 1-year high of $5.74. The business’s 50 day moving average is $3.26 and its 200-day moving average is $3.05.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its earnings results on Monday, August 12th. The company reported ($0.08) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.08). The company had revenue of $32.24 million for the quarter, compared to analyst estimates of $31.85 million. HIVE Digital Technologies had a negative return on equity of 20.88% and a negative net margin of 25.74%. Equities research analysts predict that HIVE Digital Technologies will post -0.28 earnings per share for the current year.

Institutional Investors Weigh In On HIVE Digital Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp grew its holdings 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 purchasing an additional 1,018,231 shares during the last quarter. MMCAP International Inc. SPC bought a new stake in shares of HIVE Digital Technologies during the 1st quarter valued at approximately $11,227,000. Vident Advisory LLC grew its holdings in shares of HIVE Digital Technologies by 78.6% during the 1st quarter. Vident Advisory LLC now owns 1,737,308 shares of the company’s stock valued at $5,856,000 after purchasing an additional 764,387 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of HIVE Digital Technologies during the 4th quarter valued at approximately $458,000. Finally, Impact Partnership Wealth LLC grew its holdings in shares of HIVE Digital Technologies by 202.4% during the 2nd 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. 24.42% of the stock is owned by institutional investors.

About HIVE Digital Technologies

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.