HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Analyst consensus is “Moderate Buy”: Six of eight analysts rate HIVE Digital Technologies a buy, with one hold and one sell. The average 12-month price target is $6.95, versus a recent price of $3.03.
• Quarterly results fell short of expectations: HIVE reported a loss of $0.54 per share versus the $0.21 consensus estimate, while revenue of $79.12 million was below expectations of $81.72 million. Analysts project a full-year loss of $0.61 per share.
• Insiders have been selling while institutions increased holdings: Insiders sold 483,300 shares worth approximately $1.98 million over the past 90 days, while several major institutions expanded their positions; institutional investors now own 24.42% of the stock.

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Get Free Report) have earned an average rating of "Moderate Buy" from the eight brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $6.95.

A number of analysts have issued reports on the company. Rosenblatt Securities raised their target price on HIVE Digital Technologies from $5.50 to $6.00 and gave the company a "buy" rating in a report on Thursday, August 20th. Cantor Fitzgerald set a $7.00 price objective on shares of HIVE Digital Technologies in a research note on Thursday, June 4th. Wall Street Zen cut shares of HIVE Digital Technologies from a "sell" rating to a "strong sell" rating in a research note on Sunday, July 12th. B. Riley Financial raised their price target on shares of HIVE Digital Technologies from $5.00 to $8.00 and gave the stock a "buy" rating in a research report on Wednesday, June 3rd. Finally, Chardan Capital reiterated a "buy" rating and issued a $7.50 target price on shares of HIVE Digital Technologies in a research note on Monday, August 17th.

Insider Buying and Selling

In related news, Director Dave Perrill sold 100,000 shares of the firm's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $2.72, for a total value of $272,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan B. Mcgee sold 125,000 shares of HIVE Digital Technologies stock in a transaction on Friday, June 19th. The stock was sold at an average price of $4.25, for a total transaction of $531,250.00. Following the sale, the director owned 125,000 shares in the company, valued at $531,250. This represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 483,300 shares of company stock worth $1,977,192.

Institutional Trading of HIVE Digital Technologies

Several institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in HIVE Digital Technologies by 18.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 878,457 shares of the company's stock valued at $1,283,000 after acquiring an additional 137,651 shares during the period. Goldman Sachs Group Inc. lifted its stake in HIVE Digital Technologies by 328.2% during the first quarter. Goldman Sachs Group Inc. now owns 520,877 shares of the company's stock worth $755,000 after purchasing an additional 399,223 shares during the period. Geode Capital Management LLC boosted its holdings in HIVE Digital Technologies by 11.0% during the second quarter. Geode Capital Management LLC now owns 1,296,531 shares of the company's stock valued at $2,334,000 after purchasing an additional 128,760 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in HIVE Digital Technologies by 397,216.0% during the second quarter. JPMorgan Chase & Co. now owns 397,316 shares of the company's stock valued at $715,000 after purchasing an additional 397,216 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of HIVE Digital Technologies by 232.8% in the 2nd quarter. Franklin Resources Inc. now owns 62,061 shares of the company's stock valued at $112,000 after purchasing an additional 43,413 shares during the period. 24.42% of the stock is currently owned by institutional investors and hedge funds.

HIVE Digital Technologies Price Performance

HIVE stock opened at $3.03 on Monday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.96 and a quick ratio of 1.96. HIVE Digital Technologies has a 52-week low of $1.73 and a 52-week high of $7.84. The company has a 50-day moving average of $2.96 and a two-hundred day moving average of $2.95. The stock has a market capitalization of $829.86 million, a price-to-earnings ratio of -2.35 and a beta of 3.75.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last posted its quarterly earnings data on Friday, August 14th. The company reported ($0.54) EPS for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.33). HIVE Digital Technologies had a negative return on equity of 31.98% and a negative net margin of 98.49%.The business had revenue of $79.12 million during the quarter, compared to the consensus estimate of $81.72 million. During the same quarter in the previous year, the firm posted $0.18 earnings per share. As a group, equities research analysts anticipate that HIVE Digital Technologies will post -0.61 EPS for the current year.

HIVE Digital Technologies Company Profile

HIVE Digital Technologies Ltd. is a digital infrastructure company that develops and operates data centers designed for high-performance computing. Its primary business has historically been the mining of Bitcoin using specialized computing equipment, with operations supported by renewable and low-carbon energy sources where available.

The company is also expanding beyond cryptocurrency mining by evaluating and developing infrastructure for artificial intelligence, cloud computing and other high-performance computing applications.

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