Canaccord Genuity Group Reaffirms Buy Rating for HIVE Digital Technologies (NASDAQ:HIVE)

Canaccord Genuity Group reissued their buy rating on shares of HIVE Digital Technologies (NASDAQ:HIVE) in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $6.00 price target on the stock.

A number of other research analysts have also recently weighed in on HIVE. HC Wainwright restated a neutral rating and set a $3.50 target price on shares of HIVE Digital Technologies in a research note on Wednesday. StockNews.com raised HIVE Digital Technologies to a sell rating in a research note on Sunday, June 9th.

HIVE Digital Technologies Stock Down 2.8 %

NASDAQ HIVE opened at $3.08 on Wednesday. HIVE Digital Technologies has a 52 week low of $2.18 and a 52 week high of $6.84. The company has a quick ratio of 3.51, a current ratio of 6.77 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $360.61 million, a P/E ratio of -5.22 and a beta of 3.48. The stock’s 50-day moving average price is $2.76 and its 200-day moving average price is $3.32.

HIVE Digital Technologies (NASDAQ:HIVE) last released its earnings results on Monday, June 24th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.10. HIVE Digital Technologies had a negative net margin of 44.73% and a negative return on equity of 28.52%. The company had revenue of $36.88 million for the quarter, compared to analysts’ expectations of $39.70 million. On average, equities research analysts predict that HIVE Digital Technologies will post -0.56 earnings per share for the current year.

Hedge Funds Weigh In On HIVE Digital Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Sloy Dahl & Holst LLC purchased a new stake in HIVE Digital Technologies in the 1st quarter worth $41,000. Atria Wealth Solutions Inc. bought a new stake in shares of HIVE Digital Technologies in the fourth quarter worth about $45,000. Scotia Capital Inc. purchased a new stake in shares of HIVE Digital Technologies in the fourth quarter worth about $64,000. Chesapeake Capital Corp IL bought a new position in HIVE Digital Technologies during the fourth quarter valued at approximately $92,000. Finally, Baader Bank Aktiengesellschaft purchased a new position in HIVE Digital Technologies during the 4th quarter valued at approximately $100,000. Institutional investors 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.