HIVE Digital Technologies (NASDAQ:HIVE) Receives “Buy” Rating from Canaccord Genuity Group

Canaccord Genuity Group restated their buy rating on shares of HIVE Digital Technologies (NASDAQ:HIVE) in a report released on Monday,Benzinga reports. Canaccord Genuity Group currently has a $10.00 price target on the stock.

Other analysts have also recently issued reports about the stock. Roth Capital increased their target price on shares of HIVE Digital Technologies from $6.00 to $7.50 and gave the stock a “buy” rating in a research note on Tuesday, August 26th. Wall Street Zen upgraded shares of HIVE Digital Technologies from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 16th. Rosenblatt Securities lowered their target price on shares of HIVE Digital Technologies from $5.50 to $5.00 and set a “buy” rating on the stock in a research note on Friday, June 27th. Cantor Fitzgerald increased their target price on shares of HIVE Digital Technologies from $5.00 to $5.50 and gave the stock an “overweight” rating in a research note on Friday, June 27th. Finally, Northland Securities set a $7.50 target price on shares of HIVE Digital Technologies in a research note on Tuesday, October 7th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.00.

HIVE Digital Technologies Stock Up 2.3%

HIVE opened at $6.76 on Monday. The company has a 50 day moving average of $3.46 and a 200 day moving average of $2.43. The company has a market cap of $1.60 billion, a PE ratio of -33.80 and a beta of 3.51. HIVE Digital Technologies has a 12 month low of $1.26 and a 12 month high of $7.84. The company has a current ratio of 3.42, a quick ratio of 3.42 and a debt-to-equity ratio of 0.02.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.02. The company had revenue of $45.61 million during the quarter, compared to the consensus estimate of $45.16 million. HIVE Digital Technologies had a negative net margin of 17.47% and a negative return on equity of 17.39%. On average, sell-side analysts expect that HIVE Digital Technologies will post -0.32 EPS for the current year.

Institutional Trading of HIVE Digital Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vident Advisory LLC raised its position in shares of HIVE Digital Technologies by 53.0% during the 2nd quarter. Vident Advisory LLC now owns 3,766,446 shares of the company’s stock valued at $6,780,000 after buying an additional 1,305,057 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of HIVE Digital Technologies by 104.2% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,793,562 shares of the company’s stock valued at $3,233,000 after buying an additional 915,105 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of HIVE Digital Technologies by 87.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,383,446 shares of the company’s stock valued at $2,006,000 after buying an additional 647,159 shares in the last quarter. Geode Capital Management LLC raised its position in shares of HIVE Digital Technologies by 11.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,296,531 shares of the company’s stock valued at $2,334,000 after buying an additional 128,760 shares in the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. raised its position in shares of HIVE Digital Technologies by 45.4% during the 2nd quarter. Generali Investments CEE investicni spolecnost a.s. now owns 1,244,230 shares of the company’s stock valued at $2,240,000 after buying an additional 388,280 shares in the last quarter. Hedge funds and other institutional investors own 24.42% of the company’s stock.

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.