Brokerages Set HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Target Price at $6.93

Key Points

• HIVE Digital Technologies Ltd. has received an average recommendation of "Buy" from ten analysts, with one hold rating, eight buy ratings, and one strong buy rating.
• The average 12-month price target for HIVE Digital Technologies among analysts is $6.93, following various updates to price objectives by firms such as Cantor Fitzgerald and Roth Capital.
• HIVE recently reported earnings of ($0.06) per share, beating analysts' estimates and generating revenue of $45.61 million for the quarter.

HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Get Free Report) has been given an average rating of "Buy" by the ten ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $6.9286.

A number of equities analysts have recently issued reports on HIVE shares. Roth Capital raised their target price on shares of HIVE Digital Technologies from $6.00 to $7.50 and gave the stock a "buy" rating in a research report on Tuesday, August 26th. Rosenblatt Securities lowered their price objective on shares of HIVE Digital Technologies from $5.50 to $5.00 and set a "buy" rating on the stock in a research report on Friday, June 27th. Canaccord Genuity Group raised their target price on HIVE Digital Technologies from $9.00 to $10.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Cantor Fitzgerald raised their target price on HIVE Digital Technologies from $5.00 to $5.50 and gave the company an "overweight" rating in a report on Friday, June 27th. Finally, Wall Street Zen raised HIVE Digital Technologies from a "strong sell" rating to a "hold" rating in a report on Saturday, August 16th.

HIVE Digital Technologies Stock Down 1.8%

HIVE Digital Technologies stock traded down $0.05 during mid-day trading on Thursday, hitting $2.66. The company had a trading volume of 13,046,476 shares, compared to its average volume of 17,572,456. The stock has a market cap of $612.54 million, a price-to-earnings ratio of -13.30 and a beta of 3.45. HIVE Digital Technologies has a 1 year low of $1.26 and a 1 year high of $5.54. The company has a quick ratio of 3.42, a current ratio of 3.42 and a debt-to-equity ratio of 0.02. The business has a fifty day moving average of $2.35 and a 200 day moving average of $1.99.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.02. The company had revenue of $45.61 million for the quarter, compared to analyst estimates of $45.16 million. HIVE Digital Technologies had a negative net margin of 17.47% and a negative return on equity of 17.39%. On average, sell-side analysts expect that HIVE Digital Technologies will post -0.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On HIVE Digital Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in HIVE Digital Technologies in the fourth quarter valued at $26,000. Y Intercept Hong Kong Ltd acquired a new position in shares of HIVE Digital Technologies during the 1st quarter worth $31,000. Zhang Financial LLC acquired a new position in shares of HIVE Digital Technologies during the 1st quarter worth $33,000. Caitong International Asset Management Co. Ltd raised its stake in shares of HIVE Digital Technologies by 3,966.3% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 24,845 shares of the company's stock worth $36,000 after buying an additional 24,234 shares during the last quarter. Finally, Ethos Financial Group LLC acquired a new position in shares of HIVE Digital Technologies during the 2nd quarter worth $36,000. Institutional investors and hedge funds own 24.42% of the company's stock.

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.