HIVE Digital Technologies (NASDAQ:HIVE) Price Target Raised to $7.00 at Canaccord Genuity Group

HIVE Digital Technologies (NASDAQ:HIVE) had its price target increased by Canaccord Genuity Group from $6.00 to $7.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

HIVE has been the topic of several other research reports. Northland Capmk raised shares of HIVE Digital Technologies to a “strong-buy” rating in a report on Thursday, September 19th. HC Wainwright raised shares of HIVE Digital Technologies from a “neutral” rating to a “buy” rating and upped their target price for the stock from $4.00 to $5.00 in a report on Thursday, August 15th. Cantor Fitzgerald initiated coverage on shares of HIVE Digital Technologies in a report on Tuesday, October 29th. They set an “overweight” rating and a $9.00 price objective on the stock. B. Riley initiated coverage on shares of HIVE Digital Technologies in a report on Friday, July 19th. They set a “buy” rating and a $6.00 price objective on the stock. Finally, Northland Securities initiated coverage on shares of HIVE Digital Technologies in a report on Thursday, September 19th. They set an “outperform” rating and a $5.50 price objective on the stock. One research analyst has rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $7.40.

HIVE Digital Technologies Stock Up 3.0 %

HIVE opened at $4.43 on Thursday. The firm’s 50-day simple moving average is $3.54 and its 200-day simple moving average is $3.22. The company has a debt-to-equity ratio of 0.06, a quick ratio of 7.35 and a current ratio of 5.56. HIVE Digital Technologies has a twelve month low of $2.18 and a twelve month high of $5.74. The firm has a market cap of $561.86 million, a price-to-earnings ratio of -31.64 and a beta of 3.43.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.03. HIVE Digital Technologies had a negative net margin of 12.04% and a negative return on equity of 10.78%. The business had revenue of $22.65 million for the quarter, compared to analyst estimates of $25.32 million. During the same quarter in the prior year, the firm earned ($0.29) EPS. Equities research analysts anticipate that HIVE Digital Technologies will post -0.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in HIVE. Van ECK Associates Corp lifted its position in HIVE Digital Technologies by 35.4% during the 2nd quarter. Van ECK Associates Corp now owns 3,894,605 shares of the company’s stock valued at $11,995,000 after purchasing an additional 1,018,231 shares during the period. Vident Advisory LLC lifted its position in HIVE Digital Technologies by 78.6% during the 1st quarter. Vident Advisory LLC now owns 1,737,308 shares of the company’s stock valued at $5,856,000 after purchasing an additional 764,387 shares during the period. XTX Topco Ltd acquired a new position in HIVE Digital Technologies during the 3rd quarter valued at about $463,000. Charles Schwab Investment Management Inc. lifted its position in HIVE Digital Technologies by 48.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 325,216 shares of the company’s stock valued at $1,018,000 after purchasing an additional 106,103 shares during the period. Finally, State Street Corp lifted its position in HIVE Digital Technologies by 2.9% during the 3rd quarter. State Street Corp now owns 3,214,101 shares of the company’s stock valued at $10,060,000 after purchasing an additional 91,056 shares during the period. 24.42% of the stock is currently owned by institutional investors and hedge funds.

HIVE Digital Technologies Company Profile

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.