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

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) has received a consensus rating of “Buy” from the ten brokerages that are covering the stock, Marketbeat.com reports. Eight analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $7.64.

A number of research firms recently weighed in on HIVE. Canaccord Genuity Group boosted their target price on HIVE Digital Technologies from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Keefe, Bruyette & Woods began coverage on HIVE Digital Technologies in a research report on Wednesday, January 8th. They issued an “outperform” rating for the company. StockNews.com upgraded HIVE Digital Technologies to a “sell” rating in a research report on Tuesday, January 14th. Cantor Fitzgerald dropped their target price on HIVE Digital Technologies from $10.00 to $8.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, HC Wainwright restated a “buy” rating and issued a $10.00 target price (up previously from $8.00) on shares of HIVE Digital Technologies in a research report on Thursday, February 13th.

HIVE Digital Technologies Stock Performance

Shares of HIVE opened at $1.76 on Thursday. The company has a market cap of $278.24 million, a PE ratio of -35.20 and a beta of 3.51. The company has a current ratio of 10.41, a quick ratio of 10.41 and a debt-to-equity ratio of 0.03. The stock has a 50-day moving average price of $2.70 and a 200-day moving average price of $3.25. HIVE Digital Technologies has a 12-month low of $1.67 and a 12-month high of $5.54.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.05. HIVE Digital Technologies had a negative return on equity of 8.95% and a negative net margin of 5.45%. As a group, equities analysts forecast that HIVE Digital Technologies will post -0.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On HIVE Digital Technologies

A number of large investors have recently bought and sold shares of HIVE. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of HIVE Digital Technologies during the fourth quarter valued at approximately $26,000. Lifeworks Advisors LLC bought a new position in shares of HIVE Digital Technologies during the third quarter valued at approximately $35,000. Wells Fargo & Company MN raised its holdings in shares of HIVE Digital Technologies by 60.9% during the fourth quarter. Wells Fargo & Company MN now owns 15,320 shares of the company’s stock valued at $44,000 after acquiring an additional 5,800 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of HIVE Digital Technologies during the third quarter valued at approximately $50,000. Finally, Franklin Resources Inc. bought a new position in shares of HIVE Digital Technologies during the fourth quarter valued at approximately $53,000. 24.42% of the stock is owned by hedge funds and other institutional investors.

About HIVE Digital Technologies

HIVE Digital Technologies Ltd. operates as a cryptocurrency mining company in Canada, Sweden, and Iceland. The company engages in the mining and sale of digital currencies, including Ethereum Classic, Bitcoin, and other coins. It also operates data centers; and offers infrastructure solutions. The company was formerly known as HIVE Blockchain Technologies Ltd.