HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Receives Consensus Rating of “Buy” from Analysts

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) have been assigned an average recommendation of “Buy” from the ten ratings firms that are presently covering the stock, Marketbeat.com 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 target price among analysts that have covered the stock in the last year is $7.64.

A number of brokerages have recently issued reports on HIVE. Wall Street Zen upgraded shares of HIVE Digital Technologies to a “sell” rating in a report on Saturday, May 17th. Canaccord Genuity Group restated a “buy” rating and set a $9.00 price target on shares of HIVE Digital Technologies in a report on Wednesday, March 26th. Rosenblatt Securities began coverage on shares of HIVE Digital Technologies in a report on Friday, March 7th. They set a “buy” rating and a $6.00 price target for the company. Cantor Fitzgerald cut their price target on shares of HIVE Digital Technologies from $10.00 to $8.00 and set an “overweight” rating for the company in a report on Tuesday, March 11th. Finally, HC Wainwright restated a “buy” rating and set a $10.00 price target (up previously from $8.00) on shares of HIVE Digital Technologies in a report on Thursday, February 13th.

Institutional Trading of HIVE Digital Technologies

Several institutional investors have recently added to or reduced their stakes in the stock. Lifeworks Advisors LLC increased its holdings in HIVE Digital Technologies by 46.2% in the 4th quarter. Lifeworks Advisors LLC now owns 16,307 shares of the company’s stock valued at $46,000 after purchasing an additional 5,152 shares during the last quarter. Wells Fargo & Company MN increased its holdings in HIVE Digital Technologies by 60.9% in the 4th quarter. Wells Fargo & Company MN now owns 15,320 shares of the company’s stock valued at $44,000 after purchasing an additional 5,800 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in HIVE Digital Technologies by 11.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 69,309 shares of the company’s stock valued at $100,000 after purchasing an additional 6,958 shares during the last quarter. SBI Securities Co. Ltd. increased its holdings in HIVE Digital Technologies by 30.9% in the 1st quarter. SBI Securities Co. Ltd. now owns 31,950 shares of the company’s stock valued at $46,000 after purchasing an additional 7,535 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in HIVE Digital Technologies in the 4th quarter valued at approximately $26,000. Institutional investors and hedge funds own 24.42% of the company’s stock.

HIVE Digital Technologies Stock Down 2.5%

HIVE stock opened at $1.96 on Tuesday. The company has a market cap of $347.08 million, a price-to-earnings ratio of -39.20 and a beta of 3.52. The company has a current ratio of 10.41, a quick ratio of 10.41 and a debt-to-equity ratio of 0.03. HIVE Digital Technologies has a 12 month low of $1.26 and a 12 month high of $5.54. The firm has a 50-day moving average of $1.68 and a two-hundred day moving average of $2.62.

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.