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

HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Get Free Report) has received a consensus rating of "Buy" from the ten ratings firms that are presently covering the stock, Marketbeat Ratings reports. Eight equities 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 price target among brokers that have issued a report on the stock in the last year is $6.57.

A number of research analysts recently commented on the company. Wall Street Zen upgraded HIVE Digital Technologies to a "sell" rating in a report on Saturday, May 17th. Rosenblatt Securities decreased their price objective on HIVE Digital Technologies from $5.50 to $5.00 and set a "buy" rating on the stock in a report on Friday, June 27th. Cantor Fitzgerald upped their price objective on HIVE Digital Technologies from $5.00 to $5.50 and gave the company an "overweight" rating in a report on Friday, June 27th. HC Wainwright lowered their price target on HIVE Digital Technologies from $9.00 to $6.00 and set a "buy" rating for the company in a research report on Friday, June 27th. Finally, 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 Thursday, July 3rd.

HIVE Digital Technologies Price Performance

Shares of HIVE stock traded up $0.11 during trading hours on Wednesday, reaching $2.33. The company had a trading volume of 4,626,705 shares, compared to its average volume of 9,570,453. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.72 and a current ratio of 3.72. The stock has a fifty day moving average of $1.98 and a 200-day moving average of $2.13. The company has a market capitalization of $498.25 million, a price-to-earnings ratio of -6.43 and a beta of 3.40. HIVE Digital Technologies has a 12-month low of $1.26 and a 12-month high of $5.54.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last posted 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 company had revenue of $31.16 million during the quarter, compared to analysts' expectations of $31.47 million. HIVE Digital Technologies had a negative net margin of 48.65% and a negative return on equity of 20.30%. On average, equities analysts anticipate that HIVE Digital Technologies will post -0.32 earnings per share for the current year.

Institutional Trading of HIVE Digital Technologies

Several hedge funds have recently modified their holdings of HIVE. Cubist Systematic Strategies LLC raised its stake in shares of HIVE Digital Technologies by 332.8% in the fourth quarter. Cubist Systematic Strategies LLC now owns 962,677 shares of the company's stock valued at $2,744,000 after acquiring an additional 740,247 shares in the last quarter. Charles Schwab Investment Management Inc. raised 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 valued at $2,006,000 after acquiring an additional 647,159 shares in the last quarter. Vident Advisory LLC raised its stake 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 acquiring an additional 585,511 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of HIVE Digital Technologies by 328.2% in the first quarter. Goldman Sachs Group Inc. now owns 520,877 shares of the company's stock valued at $755,000 after acquiring an additional 399,223 shares in the last quarter. Finally, Man Group plc acquired a new stake in shares of HIVE Digital Technologies in the fourth quarter valued at $1,118,000. 24.42% of the stock is currently owned by institutional investors and hedge funds.

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.