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

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) has earned an average recommendation of “Buy” from the ten analysts that are presently covering the firm, Marketbeat reports. Eight analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $7.64.

A number of brokerages recently commented on HIVE. StockNews.com upgraded shares of HIVE Digital Technologies to a “sell” rating in a report on Tuesday, January 14th. Keefe, Bruyette & Woods began coverage on shares of HIVE Digital Technologies in a report on Wednesday, January 8th. They set an “outperform” rating on the stock. Roth Capital upgraded shares of HIVE Digital Technologies to a “strong-buy” rating in a report on Wednesday, December 18th. Canaccord Genuity Group raised their price objective on shares of HIVE Digital Technologies from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, Roth Mkm began coverage on shares of HIVE Digital Technologies in a research report on Thursday, December 19th. They issued a “buy” rating and a $7.50 target price for the company.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of HIVE Digital Technologies during the 4th quarter worth about $26,000. Lifeworks Advisors LLC acquired a new stake in HIVE Digital Technologies in the 3rd quarter worth about $35,000. Wells Fargo & Company MN raised its stake in HIVE Digital Technologies by 60.9% in the 4th 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 in the last quarter. Quadrature Capital Ltd acquired a new stake in HIVE Digital Technologies in the 3rd quarter worth about $50,000. Finally, Franklin Resources Inc. acquired a new stake in HIVE Digital Technologies in the 4th quarter worth about $53,000. Institutional investors own 24.42% of the company’s stock.

HIVE Digital Technologies Trading Up 0.6 %

HIVE opened at $1.75 on Thursday. The firm’s fifty day moving average is $2.61 and its two-hundred day moving average is $3.22. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.41 and a current ratio of 10.41. The firm has a market cap of $276.66 million, a PE ratio of -35.00 and a beta of 3.51. HIVE Digital Technologies has a twelve month low of $1.65 and a twelve month high of $5.54.

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