Analysts Set HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Price Target at $7.63

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) has been given a consensus rating of “Moderate Buy” by the nine ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $7.6250.

A number of research analysts have recently weighed in on HIVE shares. Northland Securities set a $7.50 price objective on HIVE Digital Technologies in a research report on Tuesday, October 7th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $3.50 price target (down from $11.00) on shares of HIVE Digital Technologies in a research note on Tuesday, January 27th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of HIVE Digital Technologies in a research note on Wednesday, January 28th. B. Riley decreased their price objective on HIVE Digital Technologies from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, November 21st. Finally, HC Wainwright increased their target price on HIVE Digital Technologies from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th.

HIVE Digital Technologies Price Performance

HIVE stock opened at $2.46 on Friday. HIVE Digital Technologies has a one year low of $1.26 and a one year high of $7.84. The company’s fifty day moving average price is $3.02 and its 200-day moving average price is $3.49. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.55 and a current ratio of 2.55. The company has a market capitalization of $614.56 million, a PE ratio of -11.71 and a beta of 3.58.

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

Institutional Trading of HIVE Digital Technologies

A number of large investors have recently made changes to their positions in HIVE. Chesapeake Capital Corp IL lifted its holdings in shares of HIVE Digital Technologies by 36.5% in the 4th quarter. Chesapeake Capital Corp IL now owns 39,736 shares of the company’s stock valued at $103,000 after acquiring an additional 10,636 shares during the last quarter. SBI Securities Co. Ltd. increased its stake in HIVE Digital Technologies by 23.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 26,148 shares of the company’s stock worth $67,000 after acquiring an additional 4,964 shares during the last quarter. UBS Group AG raised its position in HIVE Digital Technologies by 3,992.2% during the fourth 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 period. WMG Financial Advisors LLC lifted its stake in shares of HIVE Digital Technologies by 400.0% in the 4th quarter. WMG Financial Advisors LLC now owns 50,000 shares of the company’s stock valued at $129,000 after purchasing an additional 40,000 shares during the last quarter. Finally, Quilter Plc bought a new stake in shares of HIVE Digital Technologies in the 4th quarter valued at approximately $88,000. 24.42% of the stock is currently owned by institutional investors.

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.