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

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) have been assigned an average recommendation of “Moderate Buy” from the nine research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $6.3889.

HIVE has been the topic of a number of recent analyst reports. Northland Securities set a $6.00 price objective on HIVE Digital Technologies in a report on Wednesday, February 18th. New Street Research set a $5.00 target price on HIVE Digital Technologies in a research note on Thursday, February 19th. HC Wainwright reiterated a “buy” rating on shares of HIVE Digital Technologies in a research note on Tuesday, February 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $5.00 target price on shares of HIVE Digital Technologies in a report on Monday, February 23rd. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $3.50 target price (down from $11.00) on shares of HIVE Digital Technologies in a research report on Tuesday, January 27th.

Institutional Investors Weigh In On HIVE Digital Technologies

Several large investors have recently modified their holdings of HIVE. Millennium Management LLC increased its holdings in shares of HIVE Digital Technologies by 58.1% in the 4th quarter. Millennium Management LLC now owns 6,900,828 shares of the company’s stock valued at $17,804,000 after acquiring an additional 2,536,135 shares during the period. Charles Schwab Investment Management Inc. raised its position in HIVE Digital Technologies by 29.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,187,363 shares of the company’s stock valued at $13,383,000 after purchasing an additional 1,193,991 shares during the last quarter. Tidal Investments LLC boosted its stake in HIVE Digital Technologies by 15.4% during the 3rd 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 during the period. Two Sigma Investments LP purchased a new position in HIVE Digital Technologies during the 3rd quarter worth $17,584,000. Finally, Vident Advisory LLC grew its position in HIVE Digital Technologies by 33.6% during the 4th quarter. Vident Advisory LLC now owns 4,327,141 shares of the company’s stock worth $11,164,000 after purchasing an additional 1,087,224 shares during the last quarter. 24.42% of the stock is owned by institutional investors and hedge funds.

HIVE Digital Technologies Stock Down 3.3%

HIVE Digital Technologies stock opened at $2.02 on Monday. The stock has a market cap of $517.65 million, a PE ratio of -3.37 and a beta of 3.62. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.74 and a quick ratio of 1.74. The stock’s fifty day moving average is $2.49 and its two-hundred day moving average is $3.44. HIVE Digital Technologies has a 1-year low of $1.26 and a 1-year high of $7.84.

About HIVE Digital Technologies

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.