Brokerages Set HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Target Price at $8.13

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) has received a consensus recommendation of “Moderate Buy” from the nine brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $8.2143.

A number of research firms recently weighed in on HIVE. Rosenblatt Securities restated a “buy” rating and set a $10.00 price target on shares of HIVE Digital Technologies in a research report on Tuesday, November 18th. Canaccord Genuity Group restated a “buy” rating and set a $10.00 target price on shares of HIVE Digital Technologies in a report on Friday, November 21st. Roth Capital upped their price target on HIVE Digital Technologies from $6.00 to $7.50 and gave the company a “buy” rating in a research report on Tuesday, August 26th. Wall Street Zen downgraded HIVE Digital Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of HIVE Digital Technologies in a research note on Friday, October 31st.

HIVE Digital Technologies Stock Up 6.0%

NASDAQ HIVE opened at $2.83 on Friday. The business has a fifty day moving average price of $4.19 and a 200 day moving average price of $3.26. HIVE Digital Technologies has a one year low of $1.26 and a one year high of $7.84. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.55 and a current ratio of 2.55. The company has a market cap of $684.89 million, a P/E ratio of -13.48 and a beta of 3.56.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its earnings results on Friday, November 14th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). HIVE Digital Technologies had a negative return on equity of 14.15% and a negative net margin of 16.18%.The business had revenue of $83.37 million for the quarter, compared to analyst estimates of $80.62 million. Research analysts anticipate that HIVE Digital Technologies will post -0.32 EPS for the current fiscal year.

Hedge Funds Weigh In On HIVE Digital Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of 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 worth $519,000 after purchasing an additional 4,351 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in HIVE Digital Technologies by 21.4% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 25,388 shares of the company’s stock valued at $102,000 after buying an additional 4,472 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in HIVE Digital Technologies by 21.9% during the second quarter. Caitong International Asset Management Co. Ltd now owns 30,280 shares of the company’s stock worth $55,000 after buying an additional 5,435 shares during the period. Invesco Ltd. increased its position in shares of HIVE Digital Technologies by 6.4% during the second quarter. Invesco Ltd. now owns 152,782 shares of the company’s stock valued at $275,000 after acquiring an additional 9,241 shares during the last quarter. Finally, WMG Financial Advisors LLC purchased a new stake in shares of HIVE Digital Technologies in the 3rd quarter valued at approximately $40,000. 24.42% of the stock is currently owned by institutional investors and hedge funds.

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.