Analysts Set HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Target Price at $5.70

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) have received a consensus recommendation of “Buy” from the six analysts that are covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $5.70.

A number of analysts have recently issued reports on HIVE shares. B. Riley began coverage on HIVE Digital Technologies in a research report on Friday, July 19th. They issued a “buy” rating and a $6.00 price objective for the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $6.00 price target on shares of HIVE Digital Technologies in a report on Wednesday, August 21st. HC Wainwright upgraded shares of HIVE Digital Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the company from $4.00 to $5.00 in a report on Thursday, August 15th. StockNews.com raised shares of HIVE Digital Technologies to a “sell” rating in a research report on Sunday, June 9th. Finally, Northland Securities began coverage on shares of HIVE Digital Technologies in a research note on Thursday, September 19th. They issued an “outperform” rating and a $5.50 price target on the stock.

Hedge Funds Weigh In On HIVE Digital Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC acquired a new stake in HIVE Digital Technologies during the second quarter worth approximately $36,000. Sloy Dahl & Holst LLC acquired a new stake in shares of HIVE Digital Technologies during the 1st quarter worth $41,000. Scotia Capital Inc. bought a new position in shares of HIVE Digital Technologies in the fourth quarter worth $64,000. Chesapeake Capital Corp IL acquired a new position in HIVE Digital Technologies in the fourth quarter valued at about $92,000. Finally, Financial Advocates Investment Management raised its stake in HIVE Digital Technologies by 10.8% in the fourth quarter. Financial Advocates Investment Management now owns 31,644 shares of the company’s stock valued at $143,000 after purchasing an additional 3,080 shares in the last quarter. 24.42% of the stock is currently owned by institutional investors and hedge funds.

HIVE Digital Technologies Stock Performance

NASDAQ HIVE opened at $3.13 on Thursday. The firm has a market capitalization of $368.45 million, a P/E ratio of -5.31 and a beta of 3.48. The company has a current ratio of 7.35, a quick ratio of 7.35 and a debt-to-equity ratio of 0.06. The firm’s fifty day moving average price is $3.24 and its two-hundred day moving average price is $3.04. HIVE Digital Technologies has a 1 year low of $2.18 and a 1 year high of $5.74.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its earnings results on Monday, August 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.08). HIVE Digital Technologies had a negative net margin of 25.74% and a negative return on equity of 20.88%. The company had revenue of $32.24 million for the quarter, compared to analysts’ expectations of $31.85 million. As a group, research analysts anticipate that HIVE Digital Technologies will post -0.28 EPS for the current year.

HIVE Digital Technologies Company Profile

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.