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

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) has received a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $6.3889.

A number of research firms have recently issued reports on HIVE. Keefe, Bruyette & Woods restated a “market perform” rating and set a $3.50 price objective (down from $11.00) on shares of HIVE Digital Technologies in a research report on Tuesday, January 27th. Wall Street Zen lowered shares of HIVE Digital Technologies from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Northland Securities set a $6.00 price objective on shares of HIVE Digital Technologies in a report on Wednesday, February 18th. Canaccord Genuity Group reissued a “buy” rating and issued a $10.00 target price on shares of HIVE Digital Technologies in a research note on Friday, November 21st. Finally, Rosenblatt Securities dropped their price target on shares of HIVE Digital Technologies from $6.50 to $4.50 and set a “buy” rating for the company in a research report on Wednesday, February 18th.

HIVE Digital Technologies Stock Up 3.2%

NASDAQ HIVE opened at $2.29 on Thursday. HIVE Digital Technologies has a twelve month low of $1.26 and a twelve month high of $7.84. The stock has a market cap of $581.64 million, a PE ratio of -3.82 and a beta of 3.58. The firm has a 50-day simple moving average of $2.72 and a 200 day simple moving average of $3.49. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.74 and a current ratio of 1.74.

Hedge Funds Weigh In On HIVE Digital Technologies

Several hedge funds and other institutional investors have recently modified their holdings of HIVE. NewEdge Advisors LLC grew its position in HIVE Digital Technologies by 1,885.8% in the fourth quarter. NewEdge Advisors LLC now owns 9,929 shares of the company’s stock valued at $26,000 after acquiring an additional 9,429 shares during the period. WMG Financial Advisors LLC bought a new stake in shares of HIVE Digital Technologies in the 3rd quarter worth about $40,000. HBW Advisory Services LLC bought a new stake in shares of HIVE Digital Technologies in the 3rd quarter worth about $40,000. Ground Swell Capital LLC acquired a new stake in shares of HIVE Digital Technologies during the 4th quarter worth about $27,000. Finally, Rafferty Asset Management LLC bought a new position in HIVE Digital Technologies during the 4th quarter valued at about $28,000. Institutional investors own 24.42% of the company’s stock.

HIVE Digital Technologies Company Profile

HIVE Digital Technologies Ltd is a publicly traded blockchain infrastructure company that specializes in the mining of digital assets such as Bitcoin and Ethereum. Using high-performance GPU and ASIC hardware, HIVE deploys proprietary mining rigs across multiple data centers to validate transactions on major blockchain networks. The company’s operations are designed to maximize hashing power while maintaining efficiency and uptime, enabling it to build and hold a portfolio of mined cryptocurrencies.

Headquartered in Vancouver, British Columbia, HIVE Digital operates data center facilities in North America and Europe, including Canada, Sweden and Iceland.