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

HIVE Digital Technologies (NASDAQ:HIVE)‘s stock had its “buy” rating restated by research analysts at Canaccord Genuity Group in a note issued to investors on Friday,Benzinga reports. They currently have a $10.00 price objective on the stock. Canaccord Genuity Group’s price target points to a potential upside of 296.83% from the company’s previous close.

A number of other analysts also recently commented on HIVE. Cantor Fitzgerald dropped their price target on shares of HIVE Digital Technologies from $5.00 to $3.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. New Street Research set a $5.00 price objective on shares of HIVE Digital Technologies in a research report on Thursday, February 19th. Northland Securities set a $6.00 price objective on shares of HIVE Digital Technologies in a research report on Wednesday, February 18th. B. Riley Financial lowered their price objective on shares of HIVE Digital Technologies from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $3.50 price objective (down from $11.00) on shares of HIVE Digital Technologies in a research report on Tuesday, January 27th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, HIVE Digital Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $6.17.

HIVE Digital Technologies Trading Down 0.8%

Shares of NASDAQ:HIVE opened at $2.52 on Friday. The company has a market cap of $661.23 million, a PE ratio of -4.20 and a beta of 3.56. The company’s 50-day moving average price is $2.15 and its 200 day moving average price is $3.15. HIVE Digital Technologies has a fifty-two week low of $1.60 and a fifty-two week high of $7.84. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.02.

Institutional Trading of HIVE Digital Technologies

A number of institutional investors have recently added to or reduced their stakes in HIVE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in HIVE Digital Technologies by 18.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 878,457 shares of the company’s stock valued at $1,283,000 after acquiring an additional 137,651 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in HIVE Digital Technologies by 328.2% in the first quarter. Goldman Sachs Group Inc. now owns 520,877 shares of the company’s stock valued at $755,000 after acquiring an additional 399,223 shares during the last quarter. Geode Capital Management LLC lifted its stake in HIVE Digital Technologies by 11.0% in the second quarter. Geode Capital Management LLC now owns 1,296,531 shares of the company’s stock valued at $2,334,000 after acquiring an additional 128,760 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in HIVE Digital Technologies by 397,216.0% in the second quarter. JPMorgan Chase & Co. now owns 397,316 shares of the company’s stock valued at $715,000 after acquiring an additional 397,216 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in HIVE Digital Technologies by 232.8% in the second quarter. Franklin Resources Inc. now owns 62,061 shares of the company’s stock valued at $112,000 after acquiring an additional 43,413 shares during the last quarter. 24.42% of the stock is currently owned by institutional investors and hedge funds.

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.