Brokerages Set HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Target Price at $8.08

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) have been assigned an average recommendation of “Buy” from the nine ratings firms that are covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $8.08.

Several research firms have recently commented on HIVE. HC Wainwright restated a “buy” rating and set a $10.00 price target (up previously from $8.00) on shares of HIVE Digital Technologies in a research report on Thursday, February 13th. StockNews.com upgraded shares of HIVE Digital Technologies to a “sell” rating in a research note on Tuesday, January 14th. Canaccord Genuity Group lifted their price target on HIVE Digital Technologies from $8.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Cantor Fitzgerald reissued an “overweight” rating and issued a $9.00 price objective on shares of HIVE Digital Technologies in a report on Tuesday, November 19th. Finally, Keefe, Bruyette & Woods initiated coverage on HIVE Digital Technologies in a research note on Wednesday, January 8th. They set an “outperform” rating on the stock.

Hedge Funds Weigh In On HIVE Digital Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of HIVE Digital Technologies in the fourth quarter valued at $26,000. Lifeworks Advisors LLC bought a new stake in HIVE Digital Technologies in the third quarter worth about $35,000. Gladstone Institutional Advisory LLC acquired a new stake in HIVE Digital Technologies in the 3rd quarter valued at about $44,000. Wells Fargo & Company MN boosted its position in shares of HIVE Digital Technologies by 60.9% during the 4th quarter. Wells Fargo & Company MN now owns 15,320 shares of the company’s stock valued at $44,000 after purchasing an additional 5,800 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of HIVE Digital Technologies in the 3rd quarter worth approximately $50,000. 24.42% of the stock is owned by institutional investors.

HIVE Digital Technologies Stock Performance

Shares of NASDAQ HIVE opened at $2.69 on Friday. The company has a quick ratio of 10.41, a current ratio of 10.41 and a debt-to-equity ratio of 0.03. The firm’s 50-day moving average price is $3.04 and its two-hundred day moving average price is $3.35. HIVE Digital Technologies has a 52-week low of $2.18 and a 52-week high of $5.54. The stock has a market capitalization of $398.31 million, a P/E ratio of -53.80 and a beta of 3.46.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.05. HIVE Digital Technologies had a negative return on equity of 8.95% and a negative net margin of 5.45%. As a group, sell-side analysts forecast that HIVE Digital Technologies will post -0.32 earnings per share for the current year.

About HIVE Digital Technologies

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.