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

HIVE Digital Technologies (NASDAQ:HIVE) had its target price increased by analysts at Canaccord Genuity Group from $7.00 to $8.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 180.70% from the company’s previous close.

HIVE has been the subject of a number of other reports. Roth Capital upgraded HIVE Digital Technologies to a “strong-buy” rating in a research note on Wednesday, December 18th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $9.00 target price on shares of HIVE Digital Technologies in a research note on Tuesday, November 19th. StockNews.com upgraded shares of HIVE Digital Technologies to a “sell” rating in a research note on Tuesday, January 14th. 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. Finally, Roth Mkm assumed coverage on HIVE Digital Technologies in a research note on Thursday, December 19th. They issued a “buy” rating and a $7.50 price target for the company. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, HIVE Digital Technologies currently has an average rating of “Buy” and an average price target of $7.58.

HIVE Digital Technologies Stock Up 0.4 %

Shares of HIVE Digital Technologies stock traded up $0.01 during trading on Thursday, reaching $2.85. The company had a trading volume of 9,617,535 shares, compared to its average volume of 10,896,668. The company has a market cap of $422.00 million, a price-to-earnings ratio of -20.36 and a beta of 3.46. HIVE Digital Technologies has a fifty-two week low of $2.18 and a fifty-two week high of $5.54. The firm’s fifty day moving average is $3.32 and its 200-day moving average is $3.42. The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.56 and a current ratio of 5.56.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.03. HIVE Digital Technologies had a negative return on equity of 10.78% and a negative net margin of 12.04%. The firm had revenue of $22.65 million for the quarter, compared to analysts’ expectations of $25.32 million. During the same period last year, the business posted ($0.29) earnings per share. On average, analysts anticipate that HIVE Digital Technologies will post -0.34 EPS for the current year.

Hedge Funds Weigh In On HIVE Digital Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lifeworks Advisors LLC acquired a new position in HIVE Digital Technologies during the 3rd quarter worth about $35,000. Gladstone Institutional Advisory LLC acquired a new stake in shares of HIVE Digital Technologies in the third quarter valued at about $44,000. Quadrature Capital Ltd bought a new position in HIVE Digital Technologies during the third quarter worth about $50,000. Tobam raised its holdings in HIVE Digital Technologies by 198.6% in the 4th quarter. Tobam now owns 19,060 shares of the company’s stock valued at $54,000 after acquiring an additional 12,676 shares during the period. Finally, SBI Securities Co. Ltd. bought a new stake in shares of HIVE Digital Technologies in the fourth quarter valued at about $70,000. 24.42% of the stock is currently owned by institutional investors.

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.