HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Stock Has Consensus Price Target of $6.95

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) has been given a consensus rating of “Moderate Buy” by the eight ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $6.95.

Several research firms have weighed in on HIVE. Rosenblatt Securities boosted their target price on shares of HIVE Digital Technologies from $5.50 to $6.00 and gave the company a “buy” rating in a report on Thursday, August 20th. HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of HIVE Digital Technologies in a research report on Monday, August 17th. Canaccord Genuity Group reissued a “buy” rating and issued a $10.00 target price on shares of HIVE Digital Technologies in a research report on Tuesday, August 18th. Weiss Ratings raised HIVE Digital Technologies from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, August 14th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $7.50 target price on shares of HIVE Digital Technologies in a research note on Wednesday, September 16th.

HIVE Digital Technologies Price Performance

Shares of HIVE Digital Technologies stock opened at $2.22 on Friday. The business has a 50-day moving average price of $2.90 and a 200 day moving average price of $3.08. HIVE Digital Technologies has a twelve month low of $1.73 and a twelve month high of $6.77. The firm has a market cap of $613.22 million, a PE ratio of -1.72 and a beta of 3.76. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.85.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.33). HIVE Digital Technologies had a negative net margin of 98.49% and a negative return on equity of 31.98%. The company had revenue of $79.12 million during the quarter, compared to analysts’ expectations of $81.72 million. During the same period in the prior year, the business posted $0.18 earnings per share. Sell-side analysts predict that HIVE Digital Technologies will post -0.61 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other HIVE Digital Technologies news, Director Dave Perrill sold 12,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 7th. The shares were sold at an average price of $2.75, for a total transaction of $34,375.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.44% of the stock is currently owned by company insiders.

Institutional Trading of HIVE Digital Technologies

Large investors have recently made changes to their positions in the company. Private Advisor Group LLC acquired a new stake in shares of HIVE Digital Technologies during the first quarter worth about $27,000. Caitong International Asset Management Co. Ltd lifted 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 valued at $36,000 after buying an additional 6,956 shares during the period. Stillwater Private Wealth LLC purchased a new stake in shares of HIVE Digital Technologies in the first quarter valued at approximately $38,000. Verity Asset Management Inc. purchased a new position in HIVE Digital Technologies in the second quarter worth $44,000. Finally, Kellett Wealth Advisors LLC lifted its holdings in HIVE Digital Technologies by 80.0% in the third quarter. Kellett Wealth Advisors LLC now owns 18,000 shares of the company’s stock valued at $53,000 after acquiring an additional 8,000 shares during the period. 24.42% of the stock is owned by institutional investors and hedge funds.

HIVE Digital Technologies Company Profile

HIVE Digital Technologies Ltd. is a digital-asset and data-center infrastructure company focused primarily on the mining of Bitcoin. The company operates specialized computing facilities designed to support energy-intensive digital-asset mining and has also been developing capabilities for high-performance computing and artificial-intelligence applications.

HIVE was founded in 2017 and was formerly known as HIVE Blockchain Technologies Ltd. Its operations have historically included data centers in Canada, Sweden and Iceland, and the company has expanded its infrastructure footprint internationally, including through development activities in Paraguay.