HIVE Digital Technologies’ (HIVE) “Buy” Rating Reaffirmed at Canaccord Genuity Group

HIVE Digital Technologies (NASDAQ:HIVE)‘s stock had its “buy” rating reaffirmed by investment analysts at Canaccord Genuity Group in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $9.00 price objective on the stock. Canaccord Genuity Group’s target price points to a potential upside of 437.31% from the company’s previous close.

Several other research firms also recently weighed in on HIVE. Cantor Fitzgerald reduced their price objective on shares of HIVE Digital Technologies from $10.00 to $8.00 and set an “overweight” rating for the company in a report on Tuesday, March 11th. StockNews.com upgraded shares of HIVE Digital Technologies to a “sell” rating in a report on Tuesday, January 14th. Keefe, Bruyette & Woods assumed coverage on shares of HIVE Digital Technologies in a research note on Wednesday, January 8th. They set an “outperform” rating on the stock. Rosenblatt Securities initiated coverage on HIVE Digital Technologies in a research report on Friday, March 7th. They issued a “buy” rating and a $6.00 target price for the company. Finally, Roth Capital upgraded HIVE Digital Technologies to a “strong-buy” rating in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $7.64.

HIVE Digital Technologies Stock Performance

Shares of HIVE stock traded down $0.14 during trading hours on Wednesday, reaching $1.68. The stock had a trading volume of 4,408,178 shares, compared to its average volume of 5,644,958. The firm has a market capitalization of $264.81 million, a PE ratio of -33.50 and a beta of 3.51. The firm has a 50-day simple moving average of $2.45 and a 200-day simple moving average of $3.17. HIVE Digital Technologies has a twelve month low of $1.61 and a twelve month high of $5.54. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.41 and a quick ratio of 10.41.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.05. HIVE Digital Technologies had a negative net margin of 5.45% and a negative return on equity of 8.95%. As a group, equities analysts forecast that HIVE Digital Technologies will post -0.32 earnings per share for the current year.

Hedge Funds Weigh In On HIVE Digital Technologies

A number of institutional investors have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of HIVE Digital Technologies in the 4th quarter valued at approximately $26,000. Wells Fargo & Company MN lifted its holdings in shares of HIVE Digital Technologies by 60.9% in the fourth quarter. Wells Fargo & Company MN now owns 15,320 shares of the company’s stock valued at $44,000 after purchasing an additional 5,800 shares in the last quarter. Lifeworks Advisors LLC boosted its position in shares of HIVE Digital Technologies by 46.2% in the fourth quarter. Lifeworks Advisors LLC now owns 16,307 shares of the company’s stock worth $46,000 after buying an additional 5,152 shares during the period. Quadrature Capital Ltd purchased a new position in shares of HIVE Digital Technologies during the third quarter valued at $50,000. Finally, Franklin Resources Inc. acquired a new position in HIVE Digital Technologies during the fourth quarter valued at $53,000. Hedge funds and other institutional investors own 24.42% of the company’s stock.

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.