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

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) have received a consensus rating of “Buy” from the ten analysts that are presently covering the company, Marketbeat.com reports. Eight analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $6.57.

A number of brokerages recently weighed in on HIVE. Rosenblatt Securities cut their price objective on HIVE Digital Technologies from $5.50 to $5.00 and set a “buy” rating on the stock in a research note on Friday, June 27th. Wall Street Zen raised HIVE Digital Technologies to a “sell” rating in a research report on Saturday, May 17th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $9.00 price target on shares of HIVE Digital Technologies in a research report on Thursday, July 3rd. HC Wainwright dropped their price target on HIVE Digital Technologies from $9.00 to $6.00 and set a “buy” rating on the stock in a research report on Friday, June 27th. Finally, Cantor Fitzgerald lifted their price target on HIVE Digital Technologies from $5.00 to $5.50 and gave the stock an “overweight” rating in a research report on Friday, June 27th.

Hedge Funds Weigh In On HIVE Digital Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Generali Investments CEE investicni spolecnost a.s. raised its holdings in shares of HIVE Digital Technologies by 18.5% during the 1st quarter. Generali Investments CEE investicni spolecnost a.s. now owns 855,950 shares of the company’s stock worth $1,241,000 after buying an additional 133,840 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of HIVE Digital Technologies by 126.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 736,287 shares of the company’s stock worth $2,098,000 after buying an additional 411,071 shares in the last quarter. Man Group plc acquired a new position in shares of HIVE Digital Technologies during the 4th quarter worth $1,118,000. Quantbot Technologies LP bought a new stake in HIVE Digital Technologies during the 4th quarter worth $854,000. Finally, Vident Advisory LLC increased its holdings in HIVE Digital Technologies by 26.1% in the 4th quarter. Vident Advisory LLC now owns 2,831,492 shares of the company’s stock worth $8,072,000 after purchasing an additional 585,511 shares in the last quarter. 24.42% of the stock is owned by institutional investors and hedge funds.

HIVE Digital Technologies Trading Down 6.1%

Shares of NASDAQ HIVE opened at $2.16 on Wednesday. HIVE Digital Technologies has a one year low of $1.26 and a one year high of $5.54. The firm has a market capitalization of $462.89 million, a PE ratio of -6.00 and a beta of 3.40. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average price of $1.96 and a two-hundred day moving average price of $2.14.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its quarterly earnings data on Wednesday, June 25th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.20). The business had revenue of $31.16 million for the quarter, compared to the consensus estimate of $31.47 million. HIVE Digital Technologies had a negative net margin of 48.65% and a negative return on equity of 20.30%. As a group, analysts predict that HIVE Digital Technologies will post -0.32 earnings per share for the current fiscal year.

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.