Canaccord Genuity Group Boosts HIVE Digital Technologies (NASDAQ:HIVE) Price Target to $8.00

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

Other equities research analysts have also issued reports about the stock. Keefe, Bruyette & Woods initiated coverage on shares of HIVE Digital Technologies in a research note on Wednesday, January 8th. They set an “outperform” rating on the stock. Roth Capital upgraded HIVE Digital Technologies to a “strong-buy” rating in a research report on Wednesday, December 18th. HC Wainwright reissued a “buy” rating and issued a $8.00 price objective on shares of HIVE Digital Technologies in a report on Wednesday, January 29th. Roth Mkm started coverage on HIVE Digital Technologies in a research note on Thursday, December 19th. They set a “buy” rating and a $7.50 target price for the company. Finally, StockNews.com raised shares of HIVE Digital Technologies to a “sell” rating in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $7.58.

HIVE Digital Technologies Stock Down 0.7 %

Shares of HIVE stock opened at $2.83 on Thursday. HIVE Digital Technologies has a twelve month low of $2.18 and a twelve month high of $5.54. The stock has a market cap of $419.04 million, a P/E ratio of -20.21 and a beta of 3.46. The stock has a 50 day moving average of $3.28 and a 200 day moving average of $3.40. The company has a current ratio of 5.56, a quick ratio of 5.56 and a debt-to-equity ratio of 0.06.

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, beating 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 firm had revenue of $22.65 million during the quarter, compared to analyst estimates of $25.32 million. During the same period in the previous year, the firm earned ($0.29) EPS. As a group, sell-side analysts expect that HIVE Digital Technologies will post -0.34 EPS for the current year.

Institutional Trading of HIVE Digital Technologies

A number of institutional investors have recently made changes to their positions in HIVE. Lifeworks Advisors LLC acquired a new stake in shares of HIVE Digital Technologies in the third quarter valued at approximately $35,000. Gladstone Institutional Advisory LLC purchased a new position in HIVE Digital Technologies during the third quarter worth about $44,000. Quadrature Capital Ltd purchased a new position in shares of HIVE Digital Technologies during the 3rd quarter worth approximately $50,000. Tobam raised its position in HIVE Digital Technologies by 198.6% in the fourth quarter. Tobam now owns 19,060 shares of the company’s stock valued at $54,000 after purchasing an additional 12,676 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in HIVE Digital Technologies in the fourth quarter valued at approximately $70,000. 24.42% of the stock is 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.