Analysts Set HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Target Price at $6.95

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) has earned a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $6.95.

Several research analysts have commented on HIVE shares. Cantor Fitzgerald set a $7.00 price objective on HIVE Digital Technologies in a research report on Thursday, June 4th. Keefe, Bruyette & Woods upped their price target on HIVE Digital Technologies from $3.00 to $5.00 and gave the stock a “market perform” rating in a report on Friday, June 5th. Weiss Ratings upgraded shares of HIVE Digital Technologies from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, August 14th. Canaccord Genuity Group reissued a “buy” rating and set a $10.00 target price on shares of HIVE Digital Technologies in a research report on Tuesday, August 18th. Finally, Rosenblatt Securities upped their target price on shares of HIVE Digital Technologies from $5.50 to $6.00 and gave the company a “buy” rating in a research note on Thursday, August 20th.

Insiders Place Their Bets

In other news, Director Dave Perrill sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $2.72, for a total value of $272,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Private Advisor Group LLC bought a new stake in shares of HIVE Digital Technologies during the 1st quarter worth about $27,000. Caitong International Asset Management Co. Ltd lifted its stake in HIVE Digital Technologies by 98.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 13,996 shares of the company’s stock valued at $36,000 after buying an additional 6,956 shares in the last quarter. Stillwater Private Wealth LLC purchased a new stake in HIVE Digital Technologies during the first quarter valued at about $38,000. Duncan Williams Asset Management LLC acquired a new position in shares of HIVE Digital Technologies in the fourth quarter worth about $42,000. Finally, Verity Asset Management Inc. acquired a new position in shares of HIVE Digital Technologies in the second quarter worth about $44,000. Institutional investors and hedge funds own 24.42% of the company’s stock.

HIVE Digital Technologies Price Performance

HIVE opened at $3.41 on Monday. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.85. HIVE Digital Technologies has a 52-week low of $1.73 and a 52-week high of $7.84. The company has a 50 day moving average of $2.94 and a two-hundred day moving average of $2.98. The company has a market cap of $933.93 million, a P/E ratio of -2.64 and a beta of 3.75.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.33). The business had revenue of $79.12 million during the quarter, compared to analyst estimates of $81.72 million. HIVE Digital Technologies had a negative return on equity of 31.98% and a negative net margin of 98.49%.During the same period in the previous year, the company earned $0.18 EPS. On average, analysts expect that HIVE Digital Technologies will post -0.61 earnings per share for the current year.

HIVE Digital Technologies Company Profile

HIVE Digital Technologies Ltd. is a digital infrastructure company that develops and operates data centers designed for high-performance computing. Its primary business has historically been the mining of Bitcoin using specialized computing equipment, with operations supported by renewable and low-carbon energy sources where available.

The company is also expanding beyond cryptocurrency mining by evaluating and developing infrastructure for artificial intelligence, cloud computing and other high-performance computing applications.