Brokerages Set HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Target Price at $7.42

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) have received a consensus recommendation of “Buy” from the eight brokerages that are currently covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $7.42.

Several research analysts have weighed in on the company. Canaccord Genuity Group boosted their price objective on HIVE Digital Technologies from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $9.00 target price on shares of HIVE Digital Technologies in a research note on Tuesday, November 19th. Northland Capmk raised HIVE Digital Technologies to a “strong-buy” rating in a research report on Thursday, September 19th. Roth Mkm initiated coverage on HIVE Digital Technologies in a research note on Thursday, December 19th. They set a “buy” rating and a $7.50 price target for the company. Finally, Northland Securities boosted their price objective on HIVE Digital Technologies from $5.50 to $7.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th.

HIVE Digital Technologies Price Performance

HIVE Digital Technologies stock opened at $3.31 on Friday. The stock has a market capitalization of $460.23 million, a price-to-earnings ratio of -23.64 and a beta of 3.39. HIVE Digital Technologies has a 52-week low of $2.18 and a 52-week high of $5.54. The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.56 and a current ratio of 5.56. The stock’s 50 day moving average price is $3.86 and its two-hundred day moving average price is $3.47.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its earnings results on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. The business had revenue of $22.65 million during the quarter, compared to analyst estimates of $25.32 million. HIVE Digital Technologies had a negative return on equity of 10.78% and a negative net margin of 12.04%. During the same period in the previous year, the company posted ($0.29) EPS. On average, equities analysts predict that HIVE Digital Technologies will post -0.33 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of HIVE. State Street Corp grew its position in HIVE Digital Technologies by 2.9% during the 3rd quarter. State Street Corp now owns 3,214,101 shares of the company’s stock worth $10,060,000 after acquiring an additional 91,056 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of HIVE Digital Technologies during the third quarter valued at approximately $463,000. Van ECK Associates Corp grew its holdings in shares of HIVE Digital Technologies by 35.4% in the second quarter. Van ECK Associates Corp now owns 3,894,605 shares of the company’s stock worth $11,995,000 after purchasing an additional 1,018,231 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of HIVE Digital Technologies in the third quarter worth $120,000. Finally, Centiva Capital LP bought a new stake in HIVE Digital Technologies during the 3rd quarter valued at $235,000. Hedge funds and other institutional investors own 24.42% of the company’s stock.

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.