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 eleven brokerages, with an average 1-year price objective of $7.71.
• Recent adjustments in target prices include Rosenblatt Securities raising it to $10.00 while HC Wainwright lowered theirs to $6.00, indicating varied confidence among analysts.
• During the first quarter, several hedge funds increased their stakes in HIVE, with notable increases from Generali Investments and Phoenix Financial, suggesting growing institutional interest.

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Get Free Report) have been given an average rating of "Moderate Buy" by the eleven ratings firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $7.7143.

A number of research firms have weighed in on HIVE. Rosenblatt Securities increased their target price on HIVE Digital Technologies from $5.00 to $10.00 and gave the stock a "buy" rating in a research note on Thursday, October 16th. HC Wainwright reduced their price target on shares of HIVE Digital Technologies from $9.00 to $6.00 and set a "buy" rating on the stock in a research note on Friday, June 27th. Weiss Ratings reissued a "sell (d)" rating on shares of HIVE Digital Technologies in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of HIVE Digital Technologies from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 16th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $10.00 target price on shares of HIVE Digital Technologies in a research report on Monday, October 13th.

Institutional Investors Weigh In On HIVE Digital Technologies

Several hedge funds have recently made changes to their positions in the company. Generali Investments CEE investicni spolecnost a.s. increased its stake in shares of HIVE Digital Technologies by 18.5% during the first quarter. Generali Investments CEE investicni spolecnost a.s. now owns 855,950 shares of the company's stock valued at $1,241,000 after buying an additional 133,840 shares during the period. SBI Securities Co. Ltd. grew its holdings 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 worth $46,000 after acquiring an additional 7,535 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in HIVE Digital Technologies during the 1st quarter worth about $31,000. Phoenix Financial Ltd. increased its position in HIVE Digital Technologies by 81.3% during the 1st quarter. Phoenix Financial Ltd. now owns 208,904 shares of the company's stock valued at $304,000 after purchasing an additional 93,704 shares during the period. Finally, Arkadios Wealth Advisors bought a new stake in shares of HIVE Digital Technologies in the 1st quarter valued at about $72,000. 24.42% of the stock is currently owned by hedge funds and other institutional investors.

HIVE Digital Technologies Stock Performance

HIVE Digital Technologies stock opened at $5.12 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.42 and a quick ratio of 3.42. The firm has a market capitalization of $1.22 billion, a P/E ratio of -25.60 and a beta of 3.51. HIVE Digital Technologies has a 1-year low of $1.26 and a 1-year high of $7.84. The company's 50-day moving average is $4.05 and its 200 day moving average is $2.66.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported ($0.06) 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 for the quarter, compared to analysts' expectations of $45.16 million. Research analysts forecast that HIVE Digital Technologies will post -0.32 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.