HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Receives $6.90 Consensus PT from Analysts

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) has received an average rating of “Moderate Buy” from the ten brokerages that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $6.9545.

Several analysts have weighed in on HIVE shares. Chardan Capital initiated coverage on HIVE Digital Technologies in a report on Monday. They issued a “buy” rating and a $7.50 target price on the stock. Keefe, Bruyette & Woods lifted their target price on shares of HIVE Digital Technologies from $3.00 to $5.00 and gave the stock a “market perform” rating in a research note on Friday, June 5th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $10.00 price objective on shares of HIVE Digital Technologies in a research note on Friday, June 5th. B. Riley Financial increased their target price on HIVE Digital Technologies from $5.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Finally, UBS Group set a $8.00 price target on shares of HIVE Digital Technologies in a research report on Wednesday, June 3rd.

HIVE Digital Technologies Price Performance

Shares of NASDAQ:HIVE opened at $3.00 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.10. HIVE Digital Technologies has a 52 week low of $1.73 and a 52 week high of $7.84. The company has a market cap of $805.89 million, a P/E ratio of -5.36 and a beta of 3.77. The company has a 50-day moving average price of $3.69 and a 200 day moving average price of $2.90.

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 analysts’ consensus estimates of ($0.21) by ($0.07). HIVE Digital Technologies had a negative return on equity of 23.12% and a negative net margin of 49.21%.The business had revenue of $71.82 million for the quarter, compared to analyst estimates of $79.99 million. Research analysts predict that HIVE Digital Technologies will post -0.74 earnings per share for the current year.

Insider Buying and Selling at HIVE Digital Technologies

In other news, Director Dave Perrill sold 175,000 shares of HIVE Digital Technologies stock in a transaction dated Friday, June 19th. The stock was sold at an average price of $4.69, for a total transaction of $820,750.00. Following the sale, the director directly owned 162,500 shares of the company’s stock, valued at approximately $762,125. The trade was a 51.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Susan B. Mcgee sold 125,000 shares of the company’s stock in a transaction that occurred on Friday, June 19th. The shares were sold at an average price of $4.25, for a total value of $531,250.00. Following the completion of the transaction, the director directly owned 125,000 shares in the company, valued at approximately $531,250. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 681,700 shares of company stock valued at $2,937,876 over the last 90 days. 9.44% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On HIVE Digital Technologies

Institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC raised its stake in HIVE Digital Technologies by 1,885.8% during the fourth quarter. NewEdge Advisors LLC now owns 9,929 shares of the company’s stock valued at $26,000 after buying an additional 9,429 shares in the last quarter. Ground Swell Capital LLC bought a new stake in HIVE Digital Technologies in the fourth quarter valued at $27,000. Private Advisor Group LLC acquired a new position in HIVE Digital Technologies during the 1st quarter valued at about $27,000. Rafferty Asset Management LLC acquired a new stake in HIVE Digital Technologies in the 4th quarter valued at approximately $28,000. Finally, State of Wyoming acquired a new position in shares of HIVE Digital Technologies during the fourth quarter valued at $28,000. Institutional investors and hedge funds own 24.42% of the company’s stock.

HIVE Digital Technologies Company Profile

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.