HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Given Average Rating of “Moderate Buy” by Brokerages

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) has received an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $6.95.

A number of analysts have recently issued reports on HIVE shares. Cantor Fitzgerald set a $7.00 price target on shares of HIVE Digital Technologies in a report on Thursday, June 4th. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 target price on shares of HIVE Digital Technologies in a research report on Monday, August 17th. Rosenblatt Securities upped their price target on shares of HIVE Digital Technologies from $5.50 to $6.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Chardan Capital reiterated a “buy” rating and issued a $7.50 price objective on shares of HIVE Digital Technologies in a research note on Wednesday. Finally, UBS Group set a $8.00 price objective on shares of HIVE Digital Technologies in a report on Wednesday, June 3rd.

HIVE Digital Technologies Price Performance

Shares of HIVE Digital Technologies stock opened at $3.41 on Monday. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.85. The firm has a market cap of $933.93 million, a PE ratio of -2.64 and a beta of 3.75. HIVE Digital Technologies has a 12-month low of $1.73 and a 12-month high of $7.84. The company’s fifty day simple moving average is $2.94 and its two-hundred day simple moving average is $2.97.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.33). The business had revenue of $79.12 million during the quarter, compared to analysts’ expectations of $81.72 million. HIVE Digital Technologies had a negative return on equity of 31.98% and a negative net margin of 98.49%.During the same quarter last year, the business posted $0.18 EPS. As a group, equities analysts expect that HIVE Digital Technologies will post -0.61 EPS for the current year.

Insiders Place Their Bets

In other news, Director Dave Perrill sold 100,000 shares of HIVE Digital Technologies stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $2.72, for a total transaction of $272,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 9.44% of the company’s stock.

Institutional Investors Weigh In On HIVE Digital Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Verity Asset Management Inc. bought a new position in shares of HIVE Digital Technologies during the 2nd quarter valued at approximately $44,000. Caitong International Asset Management Co. Ltd boosted its position in HIVE Digital Technologies by 98.8% in the fourth 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 last quarter. Private Advisor Group LLC acquired a new stake in HIVE Digital Technologies during the first quarter valued at $27,000. Duncan Williams Asset Management LLC purchased a new position in shares of HIVE Digital Technologies during the 4th quarter valued at approximately $42,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of HIVE Digital Technologies in the second quarter valued at about $67,000. Institutional investors own 24.42% of the company’s stock.

About HIVE Digital Technologies

HIVE Digital Technologies Ltd. is a digital infrastructure company that develops and operates data centers designed for high-performance computing. Its primary business has historically been the mining of Bitcoin using specialized computing equipment, with operations supported by renewable and low-carbon energy sources where available.

The company is also expanding beyond cryptocurrency mining by evaluating and developing infrastructure for artificial intelligence, cloud computing and other high-performance computing applications.