HIVE Digital Technologies’ (HIVE) Buy Rating Reiterated at Canaccord Genuity Group

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

Several other equities analysts have also commented on the stock. StockNews.com raised shares of HIVE Digital Technologies to a sell rating in a research report on Sunday, June 9th. HC Wainwright upgraded HIVE Digital Technologies from a neutral rating to a buy rating and upped their price objective for the stock from $4.00 to $5.00 in a report on Thursday, August 15th. Finally, B. Riley assumed coverage on HIVE Digital Technologies in a report on Friday, July 19th. They set a buy rating and a $6.00 target price for the company. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $5.75.

HIVE Digital Technologies Price Performance

Shares of NASDAQ:HIVE opened at $3.63 on Wednesday. The company has a market cap of $427.31 million, a P/E ratio of -6.15 and a beta of 3.52. The business has a fifty day simple moving average of $3.32 and a 200-day simple moving average of $3.17. HIVE Digital Technologies has a 52 week low of $2.18 and a 52 week high of $5.74. The company has a quick ratio of 6.77, a current ratio of 6.77 and a debt-to-equity ratio of 0.07.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its quarterly earnings results on Monday, June 24th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.10. HIVE Digital Technologies had a negative return on equity of 28.52% and a negative net margin of 44.73%. The company had revenue of $36.88 million during the quarter, compared to analysts’ expectations of $39.70 million. Equities research analysts forecast that HIVE Digital Technologies will post -0.36 EPS for the current year.

Institutional Trading of HIVE Digital Technologies

Large investors have recently added to or reduced their stakes in the stock. Atria Wealth Solutions Inc. purchased a new stake in shares of HIVE Digital Technologies in the fourth quarter worth about $45,000. Van ECK Associates Corp lifted its position in HIVE Digital Technologies by 39.8% during the 4th quarter. Van ECK Associates Corp now owns 1,843,702 shares of the company’s stock worth $8,352,000 after acquiring an additional 524,613 shares in the last quarter. Baader Bank Aktiengesellschaft purchased a new position in HIVE Digital Technologies in the 4th quarter worth approximately $100,000. Financial Advocates Investment Management grew its position in HIVE Digital Technologies by 10.8% in the fourth quarter. Financial Advocates Investment Management now owns 31,644 shares of the company’s stock valued at $143,000 after acquiring an additional 3,080 shares in the last quarter. Finally, Chesapeake Capital Corp IL purchased a new stake in shares of HIVE Digital Technologies during the fourth quarter valued at approximately $92,000. 24.42% of the stock is currently owned by institutional investors and hedge funds.

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.