Analysts Set HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Target Price at $7.64

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Get Free Report) have earned an average rating of "Buy" from the ten research firms that are covering the company, Marketbeat reports. Eight analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $7.64.

A number of analysts recently weighed in on the stock. StockNews.com raised shares of HIVE Digital Technologies to a "sell" rating in a research note on Tuesday, January 14th. Cantor Fitzgerald dropped their target price on HIVE Digital Technologies from $10.00 to $8.00 and set an "overweight" rating for the company in a report on Tuesday, March 11th. Keefe, Bruyette & Woods began coverage on HIVE Digital Technologies in a report on Wednesday, January 8th. They set an "outperform" rating for the company. Canaccord Genuity Group restated a "buy" rating and set a $9.00 price target on shares of HIVE Digital Technologies in a research report on Wednesday, March 26th. Finally, Rosenblatt Securities initiated coverage on shares of HIVE Digital Technologies in a research note on Friday, March 7th. They issued a "buy" rating and a $6.00 target price for the company.

Hedge Funds Weigh In On HIVE Digital Technologies

Several institutional investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in HIVE Digital Technologies during the 4th quarter worth approximately $26,000. Wells Fargo & Company MN boosted its position in shares of 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 buying an additional 5,800 shares during the period. Lifeworks Advisors LLC lifted its position in shares of HIVE Digital Technologies by 46.2% in the fourth quarter. Lifeworks Advisors LLC now owns 16,307 shares of the company's stock worth $46,000 after purchasing an additional 5,152 shares in the last quarter. Franklin Resources Inc. acquired a new position in shares of HIVE Digital Technologies during the 4th quarter worth about $53,000. Finally, Tobam boosted its holdings in shares of HIVE Digital Technologies by 198.6% in the 4th quarter. Tobam now owns 19,060 shares of the company's stock valued at $54,000 after buying an additional 12,676 shares during the last quarter. 24.42% of the stock is currently owned by institutional investors and hedge funds.

HIVE Digital Technologies Stock Performance

Shares of HIVE Digital Technologies stock remained flat at $1.73 during trading on Friday. The stock had a trading volume of 6,638,769 shares, compared to its average volume of 6,336,210. HIVE Digital Technologies has a twelve month low of $1.26 and a twelve month high of $5.54. 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 company has a market cap of $294.82 million, a price-to-earnings ratio of -34.60 and a beta of 3.52. The stock has a 50 day moving average price of $1.64 and a two-hundred day moving average price of $2.81.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.06) EPS for the quarter, beating analysts' consensus estimates 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%. Sell-side analysts anticipate that HIVE Digital Technologies will post -0.32 EPS for the current year.

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.