HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Given Average Rating of "Buy" by Brokerages

HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Get Free Report) has earned a consensus recommendation of "Buy" from the ten ratings firms that are presently covering the company, Marketbeat reports. Eight research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $7.64.

Several research firms have recently commented on HIVE. Rosenblatt Securities initiated coverage on shares of HIVE Digital Technologies in a report on Friday, March 7th. They issued a "buy" rating and a $6.00 price target for the company. Canaccord Genuity Group restated a "buy" rating and issued a $9.00 target price on shares of HIVE Digital Technologies in a research note on Wednesday, March 26th. Wall Street Zen upgraded HIVE Digital Technologies to a "sell" rating in a research report on Saturday, May 17th. Finally, Cantor Fitzgerald cut their price target on HIVE Digital Technologies from $10.00 to $8.00 and set an "overweight" rating on the stock in a report on Tuesday, March 11th.

HIVE Digital Technologies Stock Up 10.8%

NASDAQ HIVE traded up $0.18 on Friday, hitting $1.85. 19,439,536 shares of the stock traded hands, compared to its average volume of 8,028,956. The company has a current ratio of 10.41, a quick ratio of 10.41 and a debt-to-equity ratio of 0.03. The stock has a 50-day moving average of $1.82 and a 200 day moving average of $2.28. HIVE Digital Technologies has a twelve month low of $1.26 and a twelve month high of $5.54. The company has a market capitalization of $353.96 million, a P/E ratio of -37.00 and a beta of 3.46.

Institutional Investors Weigh In On HIVE Digital Technologies

Institutional investors have recently bought and sold shares of the stock. Lifeworks Advisors LLC raised its position in shares of HIVE Digital Technologies by 46.2% during the 4th quarter. Lifeworks Advisors LLC now owns 16,307 shares of the company's stock worth $46,000 after buying an additional 5,152 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of HIVE Digital Technologies by 60.9% in the 4th quarter. Wells Fargo & Company MN now owns 15,320 shares of the company's stock worth $44,000 after buying an additional 5,800 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of 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 valued at $100,000 after buying an additional 6,958 shares during the period. SBI Securities Co. Ltd. boosted its stake in HIVE Digital Technologies by 30.9% during the first quarter. SBI Securities Co. Ltd. now owns 31,950 shares of the company's stock valued at $46,000 after buying an additional 7,535 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in HIVE Digital Technologies during the fourth quarter worth about $26,000. Institutional investors and hedge funds 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.