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

HIVE Digital Technologies (NASDAQ:HIVE)‘s stock had its “buy” rating reiterated by analysts at Canaccord Genuity Group in a research note issued on Friday,Benzinga reports. They presently have a $10.00 target price on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 246.02% from the company’s previous close.

Several other research firms also recently commented on HIVE. Northland Securities set a $7.50 target price on shares of HIVE Digital Technologies in a report on Tuesday, October 7th. Rosenblatt Securities reiterated a “buy” rating and issued a $10.00 price target on shares of HIVE Digital Technologies in a report on Tuesday, November 18th. 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. Weiss Ratings reissued a “sell (d+)” rating on shares of HIVE Digital Technologies in a report on Friday, October 31st. Finally, Roth Capital lifted their target price on HIVE Digital Technologies from $6.00 to $7.50 and gave the stock a “buy” rating in a report on Tuesday, August 26th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, HIVE Digital Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $8.13.

HIVE Digital Technologies Stock Performance

NASDAQ HIVE opened at $2.89 on Friday. The company has a quick ratio of 3.42, a current ratio of 2.55 and a debt-to-equity ratio of 0.02. HIVE Digital Technologies has a twelve month low of $1.26 and a twelve month high of $7.84. The business has a 50-day moving average price of $4.77 and a 200-day moving average price of $3.10. The firm has a market cap of $686.98 million, a price-to-earnings ratio of -13.76 and a beta of 3.54.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its earnings results on Friday, November 14th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). HIVE Digital Technologies had a negative net margin of 16.18% and a negative return on equity of 14.15%. The business had revenue of $83.37 million for the quarter, compared to the consensus estimate of $80.62 million. As a group, equities research analysts predict that HIVE Digital Technologies will post -0.32 EPS for the current fiscal year.

Institutional Trading of HIVE Digital Technologies

Several hedge funds have recently made changes to their positions in the business. Y Intercept Hong Kong Ltd bought a new position in shares of HIVE Digital Technologies in the 1st quarter valued at about $31,000. Caitong International Asset Management Co. Ltd raised its position in HIVE Digital Technologies by 3,966.3% during the first quarter. Caitong International Asset Management Co. Ltd now owns 24,845 shares of the company’s stock valued at $36,000 after purchasing an additional 24,234 shares during the period. Ethos Financial Group LLC bought a new stake in shares of HIVE Digital Technologies in the 2nd quarter valued at approximately $36,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of HIVE Digital Technologies in the 2nd quarter valued at approximately $38,000. Finally, HBW Advisory Services LLC purchased a new position in shares of HIVE Digital Technologies in the 3rd quarter worth approximately $40,000. 24.42% of the stock is currently owned by hedge funds and other institutional investors.

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.