HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Receives Average Recommendation of "Buy" from Analysts

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Get Free Report) have been assigned a consensus recommendation of "Buy" from the ten analysts that are currently covering the firm, MarketBeat reports. Eight analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $7.64.

A number of research firms recently issued reports on HIVE. Wall Street Zen raised HIVE Digital Technologies to a "sell" rating in a research note on Saturday, May 17th. Cantor Fitzgerald lowered their target price on HIVE Digital Technologies from $10.00 to $8.00 and set an "overweight" rating for the company in a research note on Tuesday, March 11th. Canaccord Genuity Group reissued a "buy" rating and set a $9.00 target price on shares of HIVE Digital Technologies in a research note on Wednesday, March 26th. HC Wainwright reaffirmed a "buy" rating and set a $10.00 price target (up from $8.00) on shares of HIVE Digital Technologies in a research note on Thursday, February 13th. Finally, Rosenblatt Securities initiated coverage on shares of HIVE Digital Technologies in a research note on Friday, March 7th. They set a "buy" rating and a $6.00 price target for the company.

HIVE Digital Technologies Stock Down 0.3%

NASDAQ HIVE traded down $0.01 during trading hours on Tuesday, reaching $1.81. 14,179,675 shares of the company's stock were exchanged, compared to its average volume of 7,267,279. The company's 50-day moving average is $1.69 and its two-hundred day moving average is $2.54. HIVE Digital Technologies has a one year low of $1.26 and a one year 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 capitalization of $336.02 million, a price-to-earnings ratio of -36.10 and a beta of 3.52.

Hedge Funds Weigh In On HIVE Digital Technologies

Hedge funds have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of HIVE Digital Technologies during the 4th quarter worth approximately $26,000. Wells Fargo & Company MN boosted its holdings in shares of HIVE Digital Technologies by 60.9% in the 4th quarter. Wells Fargo & Company MN now owns 15,320 shares of the company's stock valued at $44,000 after buying an additional 5,800 shares during the last quarter. Lifeworks Advisors LLC boosted its holdings in shares of HIVE Digital Technologies by 46.2% in the 4th quarter. Lifeworks Advisors LLC now owns 16,307 shares of the company's stock valued at $46,000 after buying an additional 5,152 shares during the last quarter. Franklin Resources Inc. acquired a new stake in shares of HIVE Digital Technologies in the 4th quarter valued at approximately $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 owned by institutional investors.

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.