HIVE Digital Technologies (NASDAQ:HIVE) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

HIVE Digital Technologies (NASDAQ:HIVE) had its target price lifted by analysts at Canaccord Genuity Group from $7.00 to $8.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 182.69% from the stock’s current price.

HIVE has been the subject of a number of other reports. StockNews.com upgraded shares of HIVE Digital Technologies to a “sell” rating in a report on Tuesday, January 14th. Roth Capital upgraded shares of HIVE Digital Technologies to a “strong-buy” rating in a research note on Wednesday, December 18th. Keefe, Bruyette & Woods started coverage on shares of HIVE Digital Technologies in a research note on Wednesday, January 8th. They issued an “outperform” rating for the company. Roth Mkm assumed coverage on HIVE Digital Technologies in a research report on Thursday, December 19th. They set a “buy” rating and a $7.50 price target on the stock. Finally, Northland Securities raised their price objective on HIVE Digital Technologies from $5.50 to $7.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $7.58.

HIVE Digital Technologies Stock Performance

Shares of HIVE stock opened at $2.83 on Thursday. The firm has a market cap of $419.04 million, a price-to-earnings ratio of -20.21 and a beta of 3.46. HIVE Digital Technologies has a 52-week low of $2.18 and a 52-week high of $5.54. The company has a quick ratio of 5.56, a current ratio of 5.56 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average is $3.28 and its 200 day moving average is $3.40.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. The business had revenue of $22.65 million for the quarter, compared to the consensus estimate of $25.32 million. HIVE Digital Technologies had a negative return on equity of 10.78% and a negative net margin of 12.04%. During the same period last year, the business posted ($0.29) EPS. On average, sell-side analysts anticipate that HIVE Digital Technologies will post -0.34 EPS for the current fiscal year.

Institutional Trading of HIVE Digital Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of HIVE Digital Technologies in the fourth quarter worth about $2,058,000. Van ECK Associates Corp increased its holdings in HIVE Digital Technologies by 17.9% in the 4th quarter. Van ECK Associates Corp now owns 4,562,489 shares of the company’s stock worth $13,003,000 after buying an additional 692,799 shares during the period. Charles Schwab Investment Management Inc. raised its position in HIVE Digital Technologies by 126.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 736,287 shares of the company’s stock worth $2,098,000 after buying an additional 411,071 shares during the last quarter. XTX Topco Ltd acquired a new stake in HIVE Digital Technologies during the 3rd quarter valued at approximately $463,000. Finally, State Street Corp boosted its holdings in shares of HIVE Digital Technologies by 2.9% in the 3rd quarter. State Street Corp now owns 3,214,101 shares of the company’s stock valued at $10,060,000 after acquiring an additional 91,056 shares during the last quarter. Institutional investors and hedge funds 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.