HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Receives $6.39 Average Target Price from Analysts

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) have received a consensus rating of “Moderate Buy” from the nine research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $6.3889.

Several equities research analysts have weighed in on HIVE shares. Northland Securities set a $6.00 target price on shares of HIVE Digital Technologies in a report on Wednesday, February 18th. Rosenblatt Securities lowered their price objective on shares of HIVE Digital Technologies from $6.50 to $4.50 and set a “buy” rating for the company in a research report on Wednesday, February 18th. B. Riley Financial dropped their price objective on HIVE Digital Technologies from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Wall Street Zen cut HIVE Digital Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Finally, HC Wainwright reissued a “buy” rating on shares of HIVE Digital Technologies in a research note on Tuesday, February 17th.

HIVE Digital Technologies Stock Down 6.1%

Shares of HIVE opened at $2.14 on Thursday. The business’s fifty day moving average price is $2.70 and its two-hundred day moving average price is $3.49. The firm has a market capitalization of $543.54 million, a price-to-earnings ratio of -3.57 and a beta of 3.58. HIVE Digital Technologies has a 52 week low of $1.26 and a 52 week high of $7.84. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.74 and a current ratio of 1.74.

Hedge Funds Weigh In On HIVE Digital Technologies

Several hedge funds have recently modified their holdings of HIVE. Virtu Financial LLC bought a new stake in shares of HIVE Digital Technologies during the 4th quarter worth approximately $78,000. Compound Planning Inc. bought a new stake in HIVE Digital Technologies during the fourth quarter worth $36,000. Vident Advisory LLC lifted its stake in HIVE Digital Technologies by 33.6% in the fourth quarter. Vident Advisory LLC now owns 4,327,141 shares of the company’s stock valued at $11,164,000 after acquiring an additional 1,087,224 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of HIVE Digital Technologies by 1,885.8% in the 4th quarter. NewEdge Advisors LLC now owns 9,929 shares of the company’s stock valued at $26,000 after acquiring an additional 9,429 shares during the period. Finally, XTX Topco Ltd grew its position in shares of HIVE Digital Technologies by 10.8% in the 4th quarter. XTX Topco Ltd now owns 183,806 shares of the company’s stock valued at $474,000 after acquiring an additional 17,972 shares during the period. Institutional investors own 24.42% of the company’s stock.

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.