HIVE Digital Technologies (NASDAQ:HIVE) Receives Buy Rating from Canaccord Genuity Group

HIVE Digital Technologies (NASDAQ:HIVE)‘s stock had its “buy” rating reissued by equities research analysts at Canaccord Genuity Group in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $9.00 target price on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 437.31% from the stock’s current price.

Several other equities analysts have also weighed in on HIVE. Cantor Fitzgerald cut their price objective on shares of HIVE Digital Technologies from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 11th. HC Wainwright restated a “buy” rating and set a $10.00 price target (up previously from $8.00) on shares of HIVE Digital Technologies in a report on Thursday, February 13th. Roth Mkm began coverage on shares of HIVE Digital Technologies in a research note on Thursday, December 19th. They issued a “buy” rating and a $7.50 price objective for the company. Rosenblatt Securities assumed coverage on shares of HIVE Digital Technologies in a research report on Friday, March 7th. They set a “buy” rating and a $6.00 target price on the stock. Finally, Keefe, Bruyette & Woods initiated coverage on HIVE Digital Technologies in a research report on Wednesday, January 8th. They issued an “outperform” rating for the company. One analyst has rated the stock with a sell rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $7.64.

HIVE Digital Technologies Stock Down 7.5 %

Shares of HIVE Digital Technologies stock traded down $0.14 on Wednesday, hitting $1.68. 4,408,178 shares of the company traded hands, compared to its average volume of 5,644,958. HIVE Digital Technologies has a 12-month low of $1.61 and a 12-month high of $5.54. The company has a quick ratio of 10.41, a current ratio of 10.41 and a debt-to-equity ratio of 0.03. The company has a market cap of $264.81 million, a PE ratio of -33.50 and a beta of 3.51. The company has a 50-day moving average price of $2.45 and a 200 day moving average price of $3.17.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its earnings results on Tuesday, February 11th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.05. HIVE Digital Technologies had a negative return on equity of 8.95% and a negative net margin of 5.45%. Sell-side analysts predict 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 made changes to their positions in HIVE. Charles Schwab Investment Management Inc. raised its position in shares of HIVE Digital Technologies by 48.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 325,216 shares of the company’s stock valued at $1,018,000 after buying an additional 106,103 shares during the last quarter. Centiva Capital LP bought a new position in HIVE Digital Technologies during the third quarter valued at about $235,000. Quadrature Capital Ltd acquired a new position in HIVE Digital Technologies in the 3rd quarter valued at approximately $50,000. State Street Corp lifted its position 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 worth $10,060,000 after acquiring an additional 91,056 shares during the period. Finally, Wellington Management Group LLP acquired a new stake in shares of HIVE Digital Technologies during the 3rd quarter worth approximately $120,000. 24.42% of the stock is currently owned by institutional investors.

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.