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

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) have been given a consensus recommendation of “Moderate Buy” by the nine research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $6.90.

A number of research firms have weighed in on HIVE. Canaccord Genuity Group reissued a “buy” rating and set a $10.00 target price on shares of HIVE Digital Technologies in a research report on Friday, June 5th. Keefe, Bruyette & Woods increased their target price on shares of HIVE Digital Technologies from $3.00 to $5.00 and gave the company a “market perform” rating in a research report on Friday, June 5th. B. Riley Financial increased their target price on shares of HIVE Digital Technologies from $5.00 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, June 3rd. HC Wainwright reissued a “buy” rating and set a $7.00 target price on shares of HIVE Digital Technologies in a research report on Wednesday, June 3rd. Finally, Cantor Fitzgerald set a $7.00 target price on shares of HIVE Digital Technologies in a research report on Thursday, June 4th.

HIVE Digital Technologies Stock Performance

NASDAQ:HIVE opened at $3.64 on Wednesday. The company has a market capitalization of $962.60 million, a PE ratio of -6.50 and a beta of 3.74. The company has a 50 day simple moving average of $3.56 and a two-hundred day simple moving average of $2.86. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.10 and a current ratio of 1.10. HIVE Digital Technologies has a fifty-two week low of $1.73 and a fifty-two week high of $7.84.

HIVE Digital Technologies (NASDAQ:HIVE) last released its earnings results on Tuesday, June 2nd. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.07). The firm had revenue of $71.82 million for the quarter, compared to analyst estimates of $79.99 million. HIVE Digital Technologies had a negative net margin of 49.21% and a negative return on equity of 23.12%. Research analysts anticipate that HIVE Digital Technologies will post -0.74 earnings per share for the current year.

Insider Buying and Selling at HIVE Digital Technologies

In other HIVE Digital Technologies news, COO Luke Rossy sold 215,000 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $3.97, for a total transaction of $853,550.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan B. Mcgee sold 125,000 shares of the stock in a transaction that occurred 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 sale, the director directly owned 125,000 shares of the company’s stock, valued at $531,250. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 681,700 shares of company stock valued at $2,937,876.

Institutional Trading of HIVE Digital Technologies

Several hedge funds have recently modified their holdings of HIVE. NewEdge Advisors LLC increased its stake in shares of HIVE Digital Technologies by 1,885.8% in the 4th quarter. NewEdge Advisors LLC now owns 9,929 shares of the company’s stock valued at $26,000 after acquiring an additional 9,429 shares in the last quarter. Ground Swell Capital LLC bought a new stake in shares of HIVE Digital Technologies in the 4th quarter valued at $27,000. Private Advisor Group LLC bought a new stake in shares of HIVE Digital Technologies in the 1st quarter valued at $27,000. Rafferty Asset Management LLC bought a new stake in shares of HIVE Digital Technologies in the 4th quarter valued at $28,000. Finally, State of Wyoming bought a new stake in shares of HIVE Digital Technologies in the 4th quarter valued at $28,000. Institutional investors own 24.42% of the company’s stock.

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.