Brokerages Set HIVE Digital Technologies Ltd. (NASDAQ:HIVE) PT at $5.70

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) has been given a consensus rating of “Buy” by the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $5.70.

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

Hedge Funds Weigh In On HIVE Digital Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp grew its stake 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 buying an additional 1,018,231 shares during the period. MMCAP International Inc. SPC purchased a new stake in HIVE Digital Technologies during the first quarter valued at about $11,227,000. Vident Advisory LLC increased its stake in HIVE Digital Technologies by 78.6% during the first 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 during the last quarter. Quadrature Capital Ltd purchased a new position in shares of HIVE Digital Technologies in the 4th quarter worth about $458,000. Finally, Impact Partnership Wealth LLC lifted its stake in shares of HIVE Digital Technologies by 202.4% in 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 in the last quarter. Institutional investors and hedge funds own 24.42% of the company’s stock.

HIVE Digital Technologies Trading Up 3.6 %

Shares of HIVE Digital Technologies stock opened at $3.45 on Monday. HIVE Digital Technologies has a 1 year low of $2.18 and a 1 year high of $5.74. The company has a debt-to-equity ratio of 0.06, a current ratio of 7.35 and a quick ratio of 7.35. The business has a 50 day moving average price of $3.08 and a 200 day moving average price of $3.04. The company has a market capitalization of $406.12 million, a P/E ratio of -5.85 and a beta of 3.48.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly 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 during the quarter, compared to analysts’ expectations of $31.85 million. HIVE Digital Technologies had a negative return on equity of 20.88% and a negative net margin of 25.74%. Sell-side analysts anticipate that HIVE Digital Technologies will post -0.28 EPS 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.