Brokerages Set HIVE Digital Technologies Ltd. (NASDAQ:HIVE) PT at $6.57

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Get Free Report) have earned an average rating of "Buy" from the nine ratings firms that are covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $6.67.

HIVE has been the subject of a number of analyst reports. Wall Street Zen raised HIVE Digital Technologies to a "sell" rating in a research note on Saturday, May 17th. Canaccord Genuity Group restated a "buy" rating and set a $9.00 target price on shares of HIVE Digital Technologies in a report on Thursday, July 3rd. Rosenblatt Securities decreased their target price on HIVE Digital Technologies from $5.50 to $5.00 and set a "buy" rating for the company in a report on Friday, June 27th. HC Wainwright decreased their target price on HIVE Digital Technologies from $9.00 to $6.00 and set a "buy" rating for the company in a report on Friday, June 27th. Finally, Cantor Fitzgerald upped 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.

HIVE Digital Technologies Price Performance

HIVE stock traded up $0.01 during mid-day trading on Wednesday, reaching $2.23. 24,821,364 shares of the company traded hands, compared to its average volume of 9,655,711. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.72 and a quick ratio of 3.72. The company has a market capitalization of $477.89 million, a P/E ratio of -6.19 and a beta of 3.40. HIVE Digital Technologies has a 52-week low of $1.26 and a 52-week high of $5.54. The company has a fifty day moving average price of $1.99 and a 200-day moving average price of $2.13.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last issued its quarterly earnings results on Wednesday, June 25th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.20). The business had revenue of $31.16 million for the quarter, compared to the consensus estimate of $31.47 million. HIVE Digital Technologies had a negative net margin of 48.65% and a negative return on equity of 20.30%. As a group, analysts anticipate that HIVE Digital Technologies will post -0.32 earnings per share for the current year.

Hedge Funds Weigh In On HIVE Digital Technologies

A number of institutional investors and hedge funds have recently modified their holdings of HIVE. Tidal Investments LLC lifted its holdings in shares of HIVE Digital Technologies by 5.0% in the 4th quarter. Tidal Investments LLC now owns 4,210,339 shares of the company's stock worth $11,999,000 after buying an additional 200,024 shares during the period. Vident Advisory LLC increased its holdings in shares of HIVE Digital Technologies by 26.1% in the fourth quarter. Vident Advisory LLC now owns 2,831,492 shares of the company's stock valued at $8,072,000 after purchasing an additional 585,511 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of HIVE Digital Technologies by 87.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,383,446 shares of the company's stock worth $2,006,000 after buying an additional 647,159 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. boosted its position in HIVE Digital Technologies by 45.4% during the second quarter. Generali Investments CEE investicni spolecnost a.s. now owns 1,244,230 shares of the company's stock worth $2,240,000 after purchasing an additional 388,280 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in HIVE Digital Technologies by 332.8% during the fourth quarter. Cubist Systematic Strategies LLC now owns 962,677 shares of the company's stock worth $2,744,000 after purchasing an additional 740,247 shares in the last quarter. Hedge funds and other institutional investors 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.