HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Given Consensus Recommendation of “Buy” by Brokerages

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) has been assigned a consensus rating of “Buy” from the ten ratings firms that are covering the stock, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $7.64.

A number of equities analysts have issued reports on the stock. StockNews.com raised shares of HIVE Digital Technologies to a “sell” rating in a research report on Tuesday, January 14th. Cantor Fitzgerald cut their price target on HIVE Digital Technologies from $10.00 to $8.00 and set an “overweight” rating on the stock in a report on Tuesday, March 11th. Rosenblatt Securities started coverage on shares of HIVE Digital Technologies in a research report on Friday, March 7th. They set a “buy” rating and a $6.00 price objective for the company. HC Wainwright reissued a “buy” rating and set a $10.00 price objective (up previously from $8.00) on shares of HIVE Digital Technologies in a report on Thursday, February 13th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $9.00 target price on shares of HIVE Digital Technologies in a research report on Wednesday, March 26th.

Institutional Investors Weigh In On HIVE Digital Technologies

A number of institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC lifted its holdings in HIVE Digital Technologies by 527.9% in the third quarter. Virtu Financial LLC now owns 71,990 shares of the company’s stock valued at $225,000 after acquiring an additional 60,524 shares during the period. Impact Partnership Wealth LLC boosted its stake in shares of HIVE Digital Technologies by 11.0% during the fourth quarter. Impact Partnership Wealth LLC now owns 53,231 shares of the company’s stock valued at $152,000 after acquiring an additional 5,277 shares during the last quarter. Tobam grew its holdings in shares of HIVE Digital Technologies by 198.6% during the fourth quarter. Tobam now owns 19,060 shares of the company’s stock worth $54,000 after buying an additional 12,676 shares in the last quarter. Gladstone Institutional Advisory LLC raised its holdings in HIVE Digital Technologies by 114.1% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 30,025 shares of the company’s stock valued at $86,000 after acquiring an additional 16,000 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in HIVE Digital Technologies by 17.9% in the 4th quarter. Van ECK Associates Corp now owns 4,562,489 shares of the company’s stock valued at $13,003,000 after buying an additional 692,799 shares during the period. Hedge funds and other institutional investors own 24.42% of the company’s stock.

HIVE Digital Technologies Stock Up 4.1 %

Shares of NASDAQ HIVE opened at $1.76 on Friday. The stock has a 50 day moving average price of $1.67 and a 200 day moving average price of $2.86. The firm has a market capitalization of $299.93 million, a price-to-earnings ratio of -35.20 and a beta of 3.55. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.41 and a current ratio of 10.41. HIVE Digital Technologies has a 52-week low of $1.26 and a 52-week high of $5.54.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.05. HIVE Digital Technologies had a negative net margin of 5.45% and a negative return on equity of 8.95%. Sell-side analysts expect that HIVE Digital Technologies will post -0.32 earnings per share for the current year.

HIVE Digital Technologies Company Profile

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.