HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) have earned an average recommendation of “Moderate Buy” from the nine analysts that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $6.90.

Several equities analysts have recently weighed in on HIVE shares. Canaccord Genuity Group restated a “buy” rating and issued a $10.00 price objective on shares of HIVE Digital Technologies in a report on Friday, June 5th. Northland Securities set a $6.00 price objective on HIVE Digital Technologies in a report on Wednesday, February 18th. HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of HIVE Digital Technologies in a report on Wednesday, June 3rd. Cantor Fitzgerald set a $7.00 price objective on HIVE Digital Technologies in a report on Thursday, June 4th. Finally, Rosenblatt Securities raised their price objective on HIVE Digital Technologies from $5.00 to $5.50 and gave the company a “buy” rating in a report on Wednesday, June 3rd.

Insider Activity

In related news, COO Luke Rossy sold 215,000 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $3.97, for a total value of $853,550.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan B. Mcgee sold 16,700 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $4.45, for a total transaction of $74,315.00. Following the completion of the sale, the director owned 208,300 shares of the company’s stock, valued at $926,935. This trade represents a 7.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 298,400 shares of company stock valued at $1,232,684 over the last quarter. 9.44% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On HIVE Digital Technologies

Hedge funds have recently bought and sold shares of the company. Bastion Asset Management Inc. acquired a new stake in HIVE Digital Technologies in the 3rd quarter valued at about $1,175,000. Alight Capital Management LP acquired a new stake in HIVE Digital Technologies in the 3rd quarter valued at about $1,310,000. UBS Group AG lifted its stake in HIVE Digital Technologies by 3,992.2% in the 4th quarter. UBS Group AG now owns 929,390 shares of the company’s stock valued at $2,398,000 after purchasing an additional 906,679 shares during the last quarter. J.W. Cole Advisors Inc. acquired a new stake in HIVE Digital Technologies in the 3rd quarter valued at about $116,000. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in HIVE Digital Technologies by 21.4% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 25,388 shares of the company’s stock valued at $102,000 after purchasing an additional 4,472 shares during the last quarter. 24.42% of the stock is currently owned by institutional investors and hedge funds.

HIVE Digital Technologies Price Performance

HIVE stock opened at $3.73 on Friday. The stock has a market cap of $986.40 million, a PE ratio of -6.66 and a beta of 3.74. The stock has a 50-day moving average price of $3.08 and a two-hundred day moving average price of $2.79. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.10. HIVE Digital Technologies has a 1 year low of $1.60 and a 1 year high of $7.84.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its quarterly earnings data on Tuesday, June 2nd. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate 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 net margin of 49.21% and a negative return on equity of 23.12%. Equities analysts forecast that HIVE Digital Technologies will post -0.74 EPS for the current fiscal year.

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.