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

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) has earned an average recommendation of “Buy” from the ten ratings firms that are covering the stock, Marketbeat reports. Eight investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $7.64.

A number of brokerages have recently issued reports on HIVE. Roth Mkm initiated coverage on shares of HIVE Digital Technologies in a report on Thursday, December 19th. They issued a “buy” rating and a $7.50 price target on the stock. Canaccord Genuity Group raised their price target on shares of HIVE Digital Technologies from $8.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Rosenblatt Securities assumed coverage on shares of HIVE Digital Technologies in a report on Friday, March 7th. They issued a “buy” rating and a $6.00 price target on the stock. HC Wainwright reissued a “buy” rating and set a $10.00 price objective (up previously from $8.00) on shares of HIVE Digital Technologies in a research note on Thursday, February 13th. Finally, Roth Capital upgraded HIVE Digital Technologies to a “strong-buy” rating in a research note on Wednesday, December 18th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in HIVE. Cubist Systematic Strategies LLC raised its position in HIVE Digital Technologies by 332.8% in the 4th quarter. Cubist Systematic Strategies LLC now owns 962,677 shares of the company’s stock worth $2,744,000 after purchasing an additional 740,247 shares during the period. Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of HIVE Digital Technologies during the fourth quarter valued at about $2,058,000. Van ECK Associates Corp increased its holdings in shares of HIVE Digital Technologies by 17.9% in the fourth quarter. Van ECK Associates Corp now owns 4,562,489 shares of the company’s stock worth $13,003,000 after buying an additional 692,799 shares during the period. Vident Advisory LLC lifted its stake in shares of HIVE Digital Technologies by 26.1% in the 4th quarter. Vident Advisory LLC now owns 2,831,492 shares of the company’s stock valued at $8,072,000 after acquiring an additional 585,511 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in 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 valued at $2,098,000 after acquiring an additional 411,071 shares during the period. 24.42% of the stock is owned by hedge funds and other institutional investors.

HIVE Digital Technologies Stock Up 3.7 %

HIVE Digital Technologies stock opened at $1.68 on Thursday. The firm has a 50 day simple moving average of $2.55 and a 200 day simple moving average of $3.20. 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 1-year low of $1.61 and a 1-year high of $5.54. The firm has a market capitalization of $265.60 million, a price-to-earnings ratio of -33.60 and a beta of 3.51.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.05. HIVE Digital Technologies had a negative return on equity of 8.95% and a negative net margin of 5.45%. On average, analysts predict that HIVE Digital Technologies will post -0.32 earnings per share for the current year.

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.