HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Receives $5.70 Average Target Price from Analysts

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) have received an average rating of “Buy” from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $5.70.

HIVE has been the topic of a number of research reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $6.00 price objective on shares of HIVE Digital Technologies in a research note on Wednesday, August 21st. Northland Securities initiated coverage on HIVE Digital Technologies in a research note on Thursday, September 19th. They set an “outperform” rating and a $5.50 price objective for the company. Northland Capmk upgraded HIVE Digital Technologies to a “strong-buy” rating in a research note on Thursday, September 19th. HC Wainwright raised HIVE Digital Technologies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $4.00 to $5.00 in a report on Thursday, August 15th. Finally, B. Riley assumed coverage on HIVE Digital Technologies in a report on Friday, July 19th. They issued a “buy” rating and a $6.00 price target for the company.

HIVE Digital Technologies Price Performance

Shares of HIVE opened at $3.24 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 7.35 and a quick ratio of 7.35. The company’s fifty day moving average price is $3.21 and its 200-day moving average price is $3.04. HIVE Digital Technologies has a 1-year low of $2.18 and a 1-year high of $5.74. The firm has a market capitalization of $381.40 million, a PE ratio of -5.49 and a beta of 3.48.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its earnings results on Monday, August 12th. The company reported ($0.08) EPS for the quarter, meeting analysts’ consensus estimates of ($0.08). HIVE Digital Technologies had a negative return on equity of 20.88% and a negative net margin of 25.74%. The firm had revenue of $32.24 million for the quarter, compared to analyst estimates of $31.85 million. On average, equities research analysts predict that HIVE Digital Technologies will post -0.28 EPS for the current year.

Hedge Funds Weigh In On HIVE Digital Technologies

A number of hedge funds have recently bought and sold shares of HIVE. Vanguard Personalized Indexing Management LLC acquired a new position in shares of HIVE Digital Technologies during the 2nd quarter worth approximately $36,000. Sloy Dahl & Holst LLC purchased a new position in HIVE Digital Technologies during the first quarter valued at $41,000. Scotia Capital Inc. acquired a new stake in shares of HIVE Digital Technologies in the fourth quarter valued at about $64,000. Chesapeake Capital Corp IL purchased a new stake in shares of HIVE Digital Technologies during the fourth quarter worth about $92,000. Finally, Financial Advocates Investment Management raised its position in shares of HIVE Digital Technologies by 10.8% during the 4th quarter. Financial Advocates Investment Management now owns 31,644 shares of the company’s stock worth $143,000 after purchasing an additional 3,080 shares during the last quarter. Hedge funds and other institutional investors own 24.42% of the company’s stock.

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.