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

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) has earned 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 recommendation, two have given a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $6.3889.

Several research firms have commented on HIVE. New Street Research set a $5.00 price target on shares of HIVE Digital Technologies in a research note on Thursday, February 19th. B. Riley Financial reduced their price objective on HIVE Digital Technologies from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Rosenblatt Securities decreased their target price on HIVE Digital Technologies from $6.50 to $4.50 and set a “buy” rating for the company in a report on Wednesday, February 18th. Weiss Ratings reissued a “sell (d+)” rating on shares of HIVE Digital Technologies in a research note on Wednesday, January 28th. Finally, Northland Securities set a $6.00 price target on HIVE Digital Technologies in a report on Wednesday, February 18th.

HIVE Digital Technologies Trading Down 3.3%

Shares of HIVE stock opened at $2.02 on Monday. HIVE Digital Technologies has a fifty-two week low of $1.26 and a fifty-two week high of $7.84. The company has a 50 day moving average price of $2.49 and a 200 day moving average price of $3.44. The stock has a market capitalization of $517.65 million, a P/E ratio of -3.37 and a beta of 3.62. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.74 and a current ratio of 1.74.

Institutional Trading of HIVE Digital Technologies

Large investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd raised its holdings in HIVE Digital Technologies by 98.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 13,996 shares of the company’s stock valued at $36,000 after acquiring an additional 6,956 shares in the last quarter. Virtu Financial LLC acquired a new position in HIVE Digital Technologies during the 4th quarter worth approximately $78,000. Compound Planning Inc. purchased a new stake in shares of HIVE Digital Technologies in the 4th quarter valued at approximately $36,000. Vident Advisory LLC increased its position in shares of HIVE Digital Technologies by 33.6% in the 4th quarter. Vident Advisory LLC now owns 4,327,141 shares of the company’s stock valued at $11,164,000 after purchasing an additional 1,087,224 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of HIVE Digital Technologies by 1,885.8% in the 4th quarter. NewEdge Advisors LLC now owns 9,929 shares of the company’s stock valued at $26,000 after purchasing an additional 9,429 shares in the last quarter. 24.42% of the stock is currently owned by hedge funds and other institutional investors.

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.