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

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Get Free Report) have received an average recommendation of "Buy" from the ten ratings firms that are presently covering the company, Marketbeat.com reports. Eight research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $7.64.

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

HIVE Digital Technologies Stock Performance

HIVE stock traded down $0.08 during mid-day trading on Tuesday, reaching $1.81. 14,719,307 shares of the stock traded hands, compared to its average volume of 7,167,997. The company has a quick ratio of 10.41, a current ratio of 10.41 and a debt-to-equity ratio of 0.03. HIVE Digital Technologies has a 52 week low of $1.26 and a 52 week high of $5.54. The business has a 50-day moving average of $1.69 and a two-hundred day moving average of $2.61. The firm has a market capitalization of $320.52 million, a PE ratio of -36.20 and a beta of 3.52.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Lifeworks Advisors LLC raised its position in 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. Wells Fargo & Company MN raised its position in HIVE Digital Technologies by 60.9% in the fourth quarter. Wells Fargo & Company MN now owns 15,320 shares of the company's stock worth $44,000 after purchasing an additional 5,800 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in HIVE Digital Technologies by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 69,309 shares of the company's stock worth $100,000 after purchasing an additional 6,958 shares in the last quarter. SBI Securities Co. Ltd. raised its position in HIVE Digital Technologies by 30.9% in the first quarter. SBI Securities Co. Ltd. now owns 31,950 shares of the company's stock worth $46,000 after purchasing an additional 7,535 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of HIVE Digital Technologies during the fourth quarter worth approximately $26,000. 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.