Analysts Set HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Price Target at $8.08

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) have been assigned a consensus rating of “Buy” from the nine brokerages that are presently covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $8.08.

HIVE has been the topic of a number of research analyst reports. StockNews.com raised shares of HIVE Digital Technologies to a “sell” rating in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods began coverage on shares of HIVE Digital Technologies in a research note on Wednesday, January 8th. They set an “outperform” rating for the company. Roth Mkm began coverage on shares of HIVE Digital Technologies in a research note on Thursday, December 19th. They issued a “buy” rating and a $7.50 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 report on Thursday, February 13th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $9.00 target price on shares of HIVE Digital Technologies in a research note on Tuesday, November 19th.

Hedge Funds Weigh In On HIVE Digital Technologies

Several hedge funds have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of HIVE Digital Technologies in the fourth quarter worth about $26,000. Lifeworks Advisors LLC bought a new position in shares of HIVE Digital Technologies in the 3rd quarter valued at approximately $35,000. Gladstone Institutional Advisory LLC acquired a new stake in HIVE Digital Technologies in the 3rd quarter worth approximately $44,000. Wells Fargo & Company MN boosted its position in HIVE Digital Technologies by 60.9% during the fourth quarter. Wells Fargo & Company MN now owns 15,320 shares of the company’s stock worth $44,000 after purchasing an additional 5,800 shares during the period. Finally, Quadrature Capital Ltd acquired a new position in HIVE Digital Technologies during the third quarter valued at approximately $50,000. 24.42% of the stock is owned by institutional investors and hedge funds.

HIVE Digital Technologies Stock Performance

Shares of HIVE Digital Technologies stock opened at $2.69 on Friday. HIVE Digital Technologies has a 12 month low of $2.18 and a 12 month high of $5.54. The company has a quick ratio of 10.41, a current ratio of 10.41 and a debt-to-equity ratio of 0.03. The stock has a market cap of $398.31 million, a PE ratio of -53.80 and a beta of 3.46. The business has a fifty day simple moving average of $3.04 and a 200-day simple moving average of $3.35.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates 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, sell-side analysts anticipate that HIVE Digital Technologies will post -0.32 EPS 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.