HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Receives $6.90 Consensus PT from Brokerages

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) have received a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $6.90.

HIVE has been the subject of several research analyst reports. New Street Research set a $5.00 price objective on HIVE Digital Technologies in a report on Thursday, February 19th. Keefe, Bruyette & Woods increased their price objective on HIVE Digital Technologies from $3.00 to $5.00 and gave the stock a “market perform” rating in a report on Friday, June 5th. HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of HIVE Digital Technologies in a report on Wednesday, June 3rd. Northland Securities set a $6.00 price objective on HIVE Digital Technologies in a report on Wednesday, February 18th. Finally, B. Riley Financial increased their price objective on HIVE Digital Technologies from $5.00 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, June 3rd.

HIVE Digital Technologies Trading Down 6.4%

Shares of HIVE stock opened at $3.50 on Friday. The stock has a market capitalization of $925.58 million, a PE ratio of -6.25 and a beta of 3.74. HIVE Digital Technologies has a 1-year low of $1.60 and a 1-year high of $7.84. The business has a 50-day moving average of $3.01 and a 200 day moving average of $2.77. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.10 and a quick ratio of 1.10.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its 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 company had revenue of $71.82 million for the quarter, compared to analysts’ expectations of $79.99 million. HIVE Digital Technologies had a negative net margin of 49.21% and a negative return on equity of 23.12%. As a group, sell-side analysts anticipate that HIVE Digital Technologies will post -0.74 earnings per share for the current year.

Insider Activity 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 stock was sold at an average price of $3.97, for a total value of $853,550.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan B. Mcgee sold 16,700 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $4.45, for a total value of $74,315.00. Following the completion of the sale, the director owned 208,300 shares of the company’s stock, valued at approximately $926,935. This trade represents a 7.42% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 298,400 shares of company stock valued at $1,232,684. Company insiders own 9.44% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in HIVE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in HIVE Digital Technologies by 18.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 878,457 shares of the company’s stock worth $1,283,000 after purchasing an additional 137,651 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in HIVE Digital Technologies by 328.2% in the first quarter. Goldman Sachs Group Inc. now owns 520,877 shares of the company’s stock worth $755,000 after purchasing an additional 399,223 shares in the last quarter. Geode Capital Management LLC grew its position in shares of HIVE Digital Technologies by 11.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,296,531 shares of the company’s stock worth $2,334,000 after buying an additional 128,760 shares during the period. JPMorgan Chase & Co. grew its position in shares of HIVE Digital Technologies by 397,216.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 397,316 shares of the company’s stock worth $715,000 after buying an additional 397,216 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of HIVE Digital Technologies by 232.8% in the 2nd quarter. Franklin Resources Inc. now owns 62,061 shares of the company’s stock worth $112,000 after buying an additional 43,413 shares during the period. Hedge funds and other institutional investors own 24.42% of the company’s stock.

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.