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

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) has been assigned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $6.3889.

A number of equities analysts have commented on HIVE shares. Wall Street Zen lowered HIVE Digital Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. HC Wainwright reiterated a “buy” rating on shares of HIVE Digital Technologies in a research report on Tuesday, February 17th. Canaccord Genuity Group restated a “buy” rating and issued a $10.00 price objective on shares of HIVE Digital Technologies in a research report on Friday, November 21st. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $3.50 target price (down from $11.00) on shares of HIVE Digital Technologies in a research note on Tuesday, January 27th. Finally, Northland Securities set a $6.00 price target on shares of HIVE Digital Technologies in a research note on Wednesday, February 18th.

Institutional Investors Weigh In On HIVE Digital Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. ACT Wealth Management LLC lifted its stake in shares of HIVE Digital Technologies by 33.3% during the fourth quarter. ACT Wealth Management LLC now owns 16,000 shares of the company’s stock valued at $41,000 after acquiring an additional 4,000 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in HIVE Digital Technologies by 3.5% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 128,801 shares of the company’s stock valued at $519,000 after purchasing an additional 4,351 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in shares of HIVE Digital Technologies by 21.4% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 25,388 shares of the company’s stock valued at $102,000 after purchasing an additional 4,472 shares during the last quarter. SBI Securities Co. Ltd. grew its position in shares of HIVE Digital Technologies by 23.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 26,148 shares of the company’s stock worth $67,000 after buying an additional 4,964 shares during the period. Finally, Captrust Financial Advisors grew its position in shares of HIVE Digital Technologies by 10.9% during the 4th quarter. Captrust Financial Advisors now owns 73,849 shares of the company’s stock worth $191,000 after buying an additional 7,271 shares during the period. 24.42% of the stock is owned by institutional investors and hedge funds.

HIVE Digital Technologies Stock Up 3.2%

Shares of HIVE opened at $2.29 on Thursday. The company has a market capitalization of $581.64 million, a P/E ratio of -3.82 and a beta of 3.58. HIVE Digital Technologies has a one year low of $1.26 and a one year high of $7.84. The business’s 50 day simple moving average is $2.72 and its 200-day simple moving average is $3.49. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.74 and a quick ratio of 1.74.

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.