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

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) have earned an average rating of “Moderate Buy” from the nine ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $8.2143.

A number of research analysts recently commented on HIVE shares. HC Wainwright increased their price target on HIVE Digital Technologies from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Northland Securities set a $7.50 target price on HIVE Digital Technologies in a research report on Tuesday, October 7th. Rosenblatt Securities reissued a “buy” rating and set a $10.00 price target on shares of HIVE Digital Technologies in a research report on Tuesday, November 18th. B. Riley dropped their price target on shares of HIVE Digital Technologies from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, November 21st. Finally, Wall Street Zen cut shares of HIVE Digital Technologies from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd.

HIVE Digital Technologies Price Performance

HIVE opened at $3.05 on Wednesday. HIVE Digital Technologies has a twelve month low of $1.26 and a twelve month high of $7.84. The firm has a market cap of $741.27 million, a price-to-earnings ratio of -14.52 and a beta of 3.58. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.02. The company has a fifty day simple moving average of $3.45 and a 200 day simple moving average of $3.35.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its quarterly earnings data on Friday, November 14th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). HIVE Digital Technologies had a negative return on equity of 14.15% and a negative net margin of 16.18%.The firm had revenue of $83.37 million during the quarter, compared to analyst estimates of $80.62 million. Equities research analysts expect that HIVE Digital Technologies will post -0.32 EPS for the current fiscal year.

Hedge Funds Weigh In On HIVE Digital Technologies

Large investors have recently modified their holdings of the stock. Tidal Investments LLC grew its stake in HIVE Digital Technologies by 15.4% in the third quarter. Tidal Investments LLC now owns 4,771,312 shares of the company’s stock worth $19,228,000 after purchasing an additional 637,679 shares in the last quarter. Two Sigma Investments LP acquired a new stake in HIVE Digital Technologies during the third quarter valued at approximately $17,584,000. Vident Advisory LLC lifted its holdings in HIVE Digital Technologies by 53.0% during the 2nd quarter. Vident Advisory LLC now owns 3,766,446 shares of the company’s stock worth $6,780,000 after buying an additional 1,305,057 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of HIVE Digital Technologies by 55.0% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,780,876 shares of the company’s stock worth $11,212,000 after acquiring an additional 987,314 shares in the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. grew its position in shares of HIVE Digital Technologies by 20.0% in the 3rd quarter. Generali Investments CEE investicni spolecnost a.s. now owns 1,492,481 shares of the company’s stock worth $6,015,000 after acquiring an additional 248,251 shares in the last quarter. Institutional investors own 24.42% of the company’s stock.

HIVE Digital Technologies Company Profile

HIVE Digital Technologies Ltd is a publicly traded blockchain infrastructure company that specializes in the mining of digital assets such as Bitcoin and Ethereum. Using high-performance GPU and ASIC hardware, HIVE deploys proprietary mining rigs across multiple data centers to validate transactions on major blockchain networks. The company’s operations are designed to maximize hashing power while maintaining efficiency and uptime, enabling it to build and hold a portfolio of mined cryptocurrencies.

Headquartered in Vancouver, British Columbia, HIVE Digital operates data center facilities in North America and Europe, including Canada, Sweden and Iceland.