HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Receives Average Rating of “Buy” from Analysts

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) have been assigned a consensus recommendation of “Buy” from the nine analysts that are currently covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $7.42.

Several analysts have recently commented on HIVE shares. 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 report on Thursday, November 14th. StockNews.com upgraded shares of HIVE Digital Technologies to a “sell” rating in a report on Tuesday, January 14th. Canaccord Genuity Group boosted their price target on HIVE Digital Technologies from $6.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Roth Capital upgraded HIVE Digital Technologies to a “strong-buy” rating in a research report on Wednesday, December 18th. Finally, HC Wainwright reiterated a “buy” rating and issued a $8.00 price target on shares of HIVE Digital Technologies in a report on Tuesday, December 3rd.

HIVE Digital Technologies Trading Down 2.5 %

NASDAQ:HIVE opened at $3.12 on Wednesday. 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 52-week low of $2.18 and a 52-week high of $5.54. The stock’s 50 day moving average price is $3.59 and its 200 day moving average price is $3.47. The company has a market capitalization of $450.09 million, a PE ratio of -22.28 and a beta of 3.46.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.03. The company had revenue of $22.65 million for 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 period in the previous year, the company posted ($0.29) EPS. On average, research analysts anticipate that HIVE Digital Technologies will post -0.34 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC acquired a new stake in HIVE Digital Technologies in the second quarter worth about $36,000. Gladstone Institutional Advisory LLC bought a new stake in shares of HIVE Digital Technologies during the 3rd quarter worth $44,000. Lifeworks Advisors LLC acquired a new position in shares of HIVE Digital Technologies in the 3rd quarter worth $35,000. Charles Schwab Investment Management Inc. raised its position 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. Finally, Centiva Capital LP acquired a new position in shares of HIVE Digital Technologies in the 3rd quarter valued at $235,000. 24.42% of the stock is owned by institutional investors and hedge funds.

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.