HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Receives $8.21 Consensus Target Price from Analysts

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) have been given a consensus recommendation of “Moderate Buy” by the eight analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $8.2143.

Several research analysts have commented on the company. Northland Securities set a $7.50 target price on HIVE Digital Technologies in a research note on Tuesday, October 7th. Weiss Ratings reissued a “sell (d+)” rating on shares of HIVE Digital Technologies in a report on Friday, October 31st. Canaccord Genuity Group reiterated a “buy” rating and set a $10.00 price target on shares of HIVE Digital Technologies in a report on Friday, November 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $10.00 price target on shares of HIVE Digital Technologies in a research report on Tuesday, November 18th. Finally, B. Riley cut their price objective on HIVE Digital Technologies from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, November 21st.

Institutional Trading of HIVE Digital Technologies

Institutional investors have recently bought and sold shares of the company. WMG Financial Advisors LLC bought a new position in shares of HIVE Digital Technologies in the 3rd quarter worth about $40,000. HBW Advisory Services LLC bought a new position in shares of HIVE Digital Technologies during the 3rd quarter worth approximately $40,000. PKS Advisory Services LLC acquired a new stake in shares of HIVE Digital Technologies during the 3rd quarter worth approximately $44,000. R Squared Ltd bought a new stake in shares of HIVE Digital Technologies in the 3rd quarter valued at $45,000. Finally, Hudson Bay Capital Management LP acquired a new position in shares of HIVE Digital Technologies during the 3rd quarter valued at $51,000. Institutional investors own 24.42% of the company’s stock.

HIVE Digital Technologies Trading Up 8.9%

Shares of HIVE Digital Technologies stock opened at $3.54 on Wednesday. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.02. HIVE Digital Technologies has a 12-month low of $1.26 and a 12-month high of $7.84. The company has a market capitalization of $860.36 million, a price-to-earnings ratio of -16.86 and a beta of 3.58. The firm’s 50-day moving average price is $3.24 and its two-hundred day moving average price is $3.40.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its quarterly earnings results on Friday, November 14th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). HIVE Digital Technologies had a negative return on equity of 14.15% and a negative net margin of 16.18%.The firm had revenue of $83.37 million for the quarter, compared to analyst estimates of $80.62 million. On average, analysts forecast that HIVE Digital Technologies will post -0.32 earnings per share 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.