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

Key Points

• HIVE Digital Technologies Ltd. has received a consensus rating of "Moderate Buy" from nine analysts, with one hold and eight buy recommendations.
• The average 12-month target price for HIVE shares among analysts is $6.93, indicating potential future growth.
• In its latest quarterly earnings report, HIVE posted an EPS of ($0.06), beating analysts' estimates and reporting revenue of $45.61 million.

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Get Free Report) have been given a consensus rating of "Moderate Buy" by the nine analysts that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $6.9286.

HIVE has been the topic of a number of recent research reports. Wall Street Zen raised HIVE Digital Technologies from a "strong sell" rating to a "hold" rating in a report on Saturday, August 16th. HC Wainwright reduced their price objective on HIVE Digital Technologies from $9.00 to $6.00 and set a "buy" rating on the stock in a research report on Friday, June 27th. Rosenblatt Securities reduced their price target on HIVE Digital Technologies from $5.50 to $5.00 and set a "buy" rating on the stock in a research report on Friday, June 27th. Roth Capital raised their price target on HIVE Digital Technologies from $6.00 to $7.50 and gave the stock a "buy" rating in a research report on Tuesday, August 26th. Finally, Cantor Fitzgerald increased their price objective on HIVE Digital Technologies from $5.00 to $5.50 and gave the stock an "overweight" rating in a report on Friday, June 27th.

HIVE Digital Technologies Trading Down 1.7%

Shares of HIVE Digital Technologies stock opened at $3.52 on Monday. The stock has a fifty day simple moving average of $2.77 and a 200 day simple moving average of $2.15. HIVE Digital Technologies has a 12-month low of $1.26 and a 12-month high of $5.54. The company has a market capitalization of $828.82 million, a P/E ratio of -17.60 and a beta of 3.44. The company has a current ratio of 3.42, a quick ratio of 3.42 and a debt-to-equity ratio of 0.02.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.08) by $0.02. HIVE Digital Technologies had a negative return on equity of 17.39% and a negative net margin of 17.47%.The firm had revenue of $45.61 million during the quarter, compared to the consensus estimate of $45.16 million. On average, sell-side analysts anticipate that HIVE Digital Technologies will post -0.32 earnings per share for the current fiscal year.

Institutional Trading of HIVE Digital Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd grew its stake in shares of HIVE Digital Technologies by 21.9% during the second quarter. Caitong International Asset Management Co. Ltd now owns 30,280 shares of the company's stock valued at $55,000 after buying an additional 5,435 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake 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. boosted its position in HIVE Digital Technologies by 30.9% during the 1st quarter. SBI Securities Co. Ltd. now owns 31,950 shares of the company's stock valued at $46,000 after acquiring an additional 7,535 shares in the last quarter. Invesco Ltd. boosted its position in HIVE Digital Technologies by 6.4% during the 2nd quarter. Invesco Ltd. now owns 152,782 shares of the company's stock valued at $275,000 after acquiring an additional 9,241 shares in the last quarter. Finally, Plancorp LLC boosted its position in shares of HIVE Digital Technologies by 55.6% in the 2nd quarter. Plancorp LLC now owns 35,000 shares of the company's stock worth $63,000 after purchasing an additional 12,500 shares in the last quarter. Institutional investors own 24.42% of the company's stock.

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.

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