HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Receives $7.64 Consensus Target Price from Analysts

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) have been assigned a consensus rating of “Buy” from the ten analysts that are covering the stock, Marketbeat reports. Eight equities research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $7.64.

HIVE has been the subject of several recent research reports. Rosenblatt Securities started coverage on shares of HIVE Digital Technologies in a research report on Friday, March 7th. They issued a “buy” rating and a $6.00 price objective for the company. Keefe, Bruyette & Woods initiated coverage on shares of HIVE Digital Technologies in a research note on Wednesday, January 8th. They set an “outperform” rating on the stock. StockNews.com raised shares of HIVE Digital Technologies to a “sell” rating in a report on Tuesday, January 14th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $9.00 price objective on shares of HIVE Digital Technologies in a report on Wednesday, March 26th. Finally, Cantor Fitzgerald lowered their price target on HIVE Digital Technologies from $10.00 to $8.00 and set an “overweight” rating on the stock in a report on Tuesday, March 11th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of HIVE Digital Technologies in the 4th quarter valued at about $26,000. Zhang Financial LLC bought a new position in HIVE Digital Technologies during the first quarter worth about $33,000. Wells Fargo & Company MN grew its stake in HIVE Digital Technologies by 60.9% in the fourth quarter. Wells Fargo & Company MN now owns 15,320 shares of the company’s stock valued at $44,000 after acquiring an additional 5,800 shares during the period. Lifeworks Advisors LLC increased its holdings in shares of HIVE Digital Technologies by 46.2% in the fourth quarter. Lifeworks Advisors LLC now owns 16,307 shares of the company’s stock worth $46,000 after acquiring an additional 5,152 shares in the last quarter. Finally, SBI Securities Co. Ltd. lifted its holdings in shares of HIVE Digital Technologies by 30.9% during the 1st quarter. SBI Securities Co. Ltd. now owns 31,950 shares of the company’s stock valued at $46,000 after purchasing an additional 7,535 shares in the last quarter. Institutional investors own 24.42% of the company’s stock.

HIVE Digital Technologies Stock Performance

NASDAQ:HIVE opened at $1.79 on Friday. HIVE Digital Technologies has a fifty-two week low of $1.26 and a fifty-two week high of $5.54. The company has a quick ratio of 10.41, a current ratio of 10.41 and a debt-to-equity ratio of 0.03. The stock has a market cap of $305.04 million, a PE ratio of -35.80 and a beta of 3.55. The firm’s fifty day simple moving average is $1.66 and its 200-day simple moving average is $2.84.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.05. HIVE Digital Technologies had a negative return on equity of 8.95% and a negative net margin of 5.45%. Analysts expect that HIVE Digital Technologies will post -0.32 earnings per share for the current fiscal year.

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.