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

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) has been given an average recommendation of “Moderate Buy” by the nine analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $6.90.

Several analysts have recently commented on HIVE shares. Cantor Fitzgerald set a $7.00 price objective on shares of HIVE Digital Technologies in a research report on Thursday, June 4th. HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of HIVE Digital Technologies in a report on Wednesday, June 3rd. Wall Street Zen lowered HIVE Digital Technologies from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 12th. B. Riley Financial lifted their target price on HIVE Digital Technologies from $5.00 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, June 3rd. Finally, Keefe, Bruyette & Woods upped their price target on HIVE Digital Technologies from $3.00 to $5.00 and gave the stock a “market perform” rating in a research note on Friday, June 5th.

HIVE Digital Technologies Stock Down 6.9%

HIVE Digital Technologies stock opened at $2.96 on Friday. HIVE Digital Technologies has a one year low of $1.73 and a one year high of $7.84. The stock has a fifty day moving average of $3.75 and a 200 day moving average of $2.91. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market cap of $782.77 million, a PE ratio of -5.29 and a beta of 3.77.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its quarterly earnings results on Tuesday, June 2nd. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.07). The business had revenue of $71.82 million for the quarter, compared to analysts’ expectations of $79.99 million. HIVE Digital Technologies had a negative return on equity of 23.12% and a negative net margin of 49.21%. As a group, sell-side analysts predict that HIVE Digital Technologies will post -0.74 EPS for the current year.

Insider Buying and Selling

In related news, Director Dave Perrill sold 175,000 shares of the firm’s stock in a transaction on Friday, June 19th. The shares were sold at an average price of $4.69, for a total transaction of $820,750.00. Following the completion of the transaction, the director directly owned 162,500 shares of the company’s stock, valued at approximately $762,125. This trade represents a 51.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Susan B. Mcgee sold 125,000 shares of HIVE Digital Technologies stock in a transaction on Friday, June 19th. The shares were sold at an average price of $4.25, for a total transaction of $531,250.00. Following the completion of the sale, the director owned 125,000 shares in the company, valued at approximately $531,250. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 681,700 shares of company stock worth $2,937,876. 9.44% of the stock is owned by insiders.

Institutional Investors Weigh In On HIVE Digital Technologies

Several large investors have recently made changes to their positions in HIVE. ACT Wealth Management LLC lifted its holdings in shares of HIVE Digital Technologies by 33.3% in the 4th 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 last quarter. SBI Securities Co. Ltd. lifted its stake in shares of HIVE Digital Technologies by 23.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 26,148 shares of the company’s stock valued at $67,000 after purchasing an additional 4,964 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of HIVE Digital Technologies by 98.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 13,996 shares of the company’s stock worth $36,000 after purchasing an additional 6,956 shares during the period. Captrust Financial Advisors boosted its holdings in shares of HIVE Digital Technologies by 10.9% in the 4th quarter. Captrust Financial Advisors now owns 73,849 shares of the company’s stock worth $191,000 after purchasing an additional 7,271 shares during the period. Finally, Invesco Ltd. increased its position in shares of HIVE Digital Technologies by 6.4% during the 2nd quarter. Invesco Ltd. now owns 152,782 shares of the company’s stock valued at $275,000 after purchasing an additional 9,241 shares during the last quarter. 24.42% of the stock is owned by institutional investors.

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.