HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Stock Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• Analysts rate HIVE Digital Technologies a “Moderate Buy.” Six of eight brokerages recommend buying the stock, while one rates it a hold and one a sell; the average 12-month price target is $6.95.
• HIVE shares opened at $1.71, down 10.5%. The stock remains near its 52-week low of $1.67 and has declined below its 50- and 200-day moving averages.
• The company reported weaker-than-expected quarterly results. HIVE posted an adjusted loss of $0.54 per share versus a $0.21 consensus loss and generated $79.12 million in revenue, below the $81.72 million estimate.

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

A number of brokerages have recently weighed in on HIVE. Canaccord Genuity Group reiterated a "buy" rating and set a $10.00 price target on shares of HIVE Digital Technologies in a research report on Monday, October 19th. Rosenblatt Securities increased their price objective on shares of HIVE Digital Technologies from $5.50 to $6.00 and gave the company a "buy" rating in a report on Thursday, August 20th. Weiss Ratings raised HIVE Digital Technologies from a "sell (d-)" rating to a "sell (d)" rating in a research note on Friday, August 14th. HC Wainwright reissued a "buy" rating and issued a $7.00 price target on shares of HIVE Digital Technologies in a report on Monday, August 17th. Finally, Wall Street Zen downgraded shares of HIVE Digital Technologies from a "sell" rating to a "strong sell" rating in a report on Sunday, July 12th.

HIVE Digital Technologies Stock Down 10.5%

Shares of NASDAQ:HIVE opened at $1.71 on Tuesday. The stock has a market capitalization of $472.34 million, a price-to-earnings ratio of -1.33 and a beta of 3.76. HIVE Digital Technologies has a 1-year low of $1.67 and a 1-year high of $5.59. The company's fifty day moving average is $2.69 and its two-hundred day moving average is $2.83. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.96 and a current ratio of 1.96.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.54) earnings per share (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 business posted $0.18 earnings per share. Equities analysts anticipate that HIVE Digital Technologies will post -0.66 EPS for the current year.

Insider Transactions at HIVE Digital Technologies

In other HIVE Digital Technologies news, Director Dave Perrill sold 100,000 shares of HIVE Digital Technologies stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $2.72, for a total value of $272,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Institutional Investors Weigh In On HIVE Digital Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Situational Awareness LP raised its position in shares of HIVE Digital Technologies by 169.3% during the second quarter. Situational Awareness LP now owns 9,133,726 shares of the company's stock worth $33,247,000 after purchasing an additional 5,742,179 shares during the period. Acasta Partners UK LLP acquired a new position in shares of HIVE Digital Technologies in the 2nd quarter valued at $3,640,000. BTG Pactual Asset Management US LLC acquired a new position in shares of HIVE Digital Technologies in the 2nd quarter valued at $2,730,000. Empowered Funds LLC purchased a new position in HIVE Digital Technologies in the 1st quarter worth about $1,934,000. Finally, Hennion & Walsh Asset Management Inc. increased its stake in HIVE Digital Technologies by 8.0% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 398,871 shares of the company's stock worth $1,452,000 after purchasing an additional 29,641 shares in the last quarter. Institutional investors and hedge funds own 24.42% of the company's stock.

HIVE Digital Technologies Company Profile

HIVE Digital Technologies Ltd. is a digital asset infrastructure company focused primarily on Bitcoin mining and the operation of data centers. The company uses specialized computing equipment and energy infrastructure to support cryptocurrency mining, while also developing facilities designed to accommodate high-performance computing and artificial intelligence applications.

Founded as HIVE Blockchain Technologies, the company adopted the HIVE Digital Technologies name in 2023 to reflect its broader focus beyond cryptocurrency mining.

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