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

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) has received an average rating of “Moderate Buy” from the nine analysts that are currently covering the firm, Marketbeat Ratings reports. One equities 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 price target among analysts that have updated their coverage on the stock in the last year is $6.3889.

Several equities research analysts recently issued reports on HIVE shares. B. Riley Financial reduced their target price on shares of HIVE Digital Technologies from $7.00 to $6.00 and set a “buy” rating for the company in a report on Friday, February 13th. New Street Research set a $5.00 price target on shares of HIVE Digital Technologies in a research report on Thursday, February 19th. Weiss Ratings reissued a “sell (d+)” rating on shares of HIVE Digital Technologies in a research note on Wednesday, January 28th. Northland Securities set a $6.00 price objective on shares of HIVE Digital Technologies in a research report on Wednesday, February 18th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $3.50 target price (down from $11.00) on shares of HIVE Digital Technologies in a research note on Tuesday, January 27th.

HIVE Digital Technologies Stock Performance

Shares of HIVE opened at $1.82 on Monday. The business has a 50-day simple moving average of $2.35 and a two-hundred day simple moving average of $3.41. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.02. HIVE Digital Technologies has a 52 week low of $1.26 and a 52 week high of $7.84. The stock has a market cap of $466.39 million, a price-to-earnings ratio of -3.03 and a beta of 3.62.

Hedge Funds Weigh In On HIVE Digital Technologies

Several large investors have recently made changes to their positions in HIVE. Millennium Management LLC grew its position in shares of HIVE Digital Technologies by 58.1% during the fourth quarter. Millennium Management LLC now owns 6,900,828 shares of the company’s stock worth $17,804,000 after purchasing an additional 2,536,135 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in HIVE Digital Technologies by 29.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,187,363 shares of the company’s stock worth $13,383,000 after purchasing an additional 1,193,991 shares in the last quarter. Tidal Investments LLC boosted its stake in HIVE Digital Technologies by 15.4% in the 3rd quarter. Tidal Investments LLC now owns 4,771,312 shares of the company’s stock worth $19,228,000 after purchasing an additional 637,679 shares during the period. Two Sigma Investments LP bought a new position in HIVE Digital Technologies in the 3rd quarter worth approximately $17,584,000. Finally, Vident Advisory LLC grew its holdings in HIVE Digital Technologies by 33.6% during the 4th quarter. Vident Advisory LLC now owns 4,327,141 shares of the company’s stock valued at $11,164,000 after buying an additional 1,087,224 shares in the last quarter. 24.42% of the stock is currently owned by hedge funds and other institutional investors.

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.