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

Key Points

• HIVE Digital Technologies has a consensus analyst rating of “Moderate Buy” from nine analysts, with six buy ratings, two holds, and one sell. The average 12-month price target is $6.90.
• The stock was trading down 3.2% at $3.64, well below the average target, while the company’s shares have ranged from $1.73 to $7.84 over the past year.
• HIVE’s latest earnings missed estimates, reporting EPS of -$0.28 versus expectations of -$0.21 and revenue of $71.82 million versus $79.99 million expected. Insiders also sold shares recently, including a large sale by Director Dave Perrill.

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the nine analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $6.90.

HIVE has been the subject of a number of research reports. HC Wainwright reissued a "buy" rating and issued a $7.00 target price on shares of HIVE Digital Technologies in a report on Wednesday, June 3rd. Weiss Ratings cut shares of HIVE Digital Technologies from a "sell (d)" rating to a "sell (d-)" rating in a report on Monday, June 15th. Rosenblatt Securities increased their target price on shares of HIVE Digital Technologies from $5.00 to $5.50 and gave the stock a "buy" rating in a report on Wednesday, June 3rd. Keefe, Bruyette & Woods increased their target price on shares of HIVE Digital Technologies from $3.00 to $5.00 and gave the stock a "market perform" rating in a report on Friday, June 5th. Finally, B. Riley Financial increased their target price on shares of HIVE Digital Technologies from $5.00 to $8.00 and gave the stock a "buy" rating in a report on Wednesday, June 3rd.

HIVE Digital Technologies Trading Down 3.2%

HIVE opened at $3.64 on Wednesday. HIVE Digital Technologies has a twelve month low of $1.73 and a twelve month high of $7.84. The company has a 50-day simple moving average of $3.56 and a 200 day simple moving average of $2.86. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $962.60 million, a price-to-earnings ratio of -6.50 and a beta of 3.74.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last posted its earnings results on Tuesday, June 2nd. The company reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.07). The company had revenue of $71.82 million during the quarter, compared to the consensus estimate of $79.99 million. HIVE Digital Technologies had a negative return on equity of 23.12% and a negative net margin of 49.21%. Analysts predict that HIVE Digital Technologies will post -0.74 EPS for the current fiscal year.

Insider Transactions at HIVE Digital Technologies

In other news, Director Dave Perrill sold 175,000 shares of the stock in a transaction dated Friday, June 19th. The shares were sold at an average price of $4.69, for a total value of $820,750.00. Following the completion of the transaction, the director owned 162,500 shares of the company's stock, valued at approximately $762,125. This represents a 51.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Luke Rossy sold 215,000 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $3.97, for a total transaction of $853,550.00. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 681,700 shares of company stock valued at $2,937,876.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Millennium Management LLC raised its holdings in HIVE Digital Technologies by 58.1% in the 4th quarter. Millennium Management LLC now owns 6,900,828 shares of the company's stock valued at $17,804,000 after buying an additional 2,536,135 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in HIVE Digital Technologies by 29.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,187,363 shares of the company's stock valued at $13,383,000 after buying an additional 1,193,991 shares during the last quarter. Tidal Investments LLC raised its holdings in HIVE Digital Technologies by 15.4% in the 3rd quarter. Tidal Investments LLC now owns 4,771,312 shares of the company's stock valued at $19,228,000 after buying an additional 637,679 shares during the last quarter. Two Sigma Investments LP bought a new position in HIVE Digital Technologies in the 3rd quarter valued at approximately $17,584,000. Finally, Vident Advisory LLC raised its holdings in HIVE Digital Technologies by 33.6% in the 4th quarter. Vident Advisory LLC now owns 4,327,141 shares of the company's stock valued at $11,164,000 after buying an additional 1,087,224 shares during the last quarter. Institutional investors own 24.42% of the company's stock.

About HIVE Digital Technologies

HIVE Digital Technologies Ltd is a publicly traded blockchain infrastructure company that specializes in the mining of digital assets such as Bitcoin and Ethereum. Using high-performance GPU and ASIC hardware, HIVE deploys proprietary mining rigs across multiple data centers to validate transactions on major blockchain networks. The company’s operations are designed to maximize hashing power while maintaining efficiency and uptime, enabling it to build and hold a portfolio of mined cryptocurrencies.

Headquartered in Vancouver, British Columbia, HIVE Digital operates data center facilities in North America and Europe, including Canada, Sweden and Iceland.

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