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

HIVE Digital Technologies (NASDAQ:HIVE)‘s stock had its “buy” rating reaffirmed by Canaccord Genuity Group in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $10.00 price objective on the stock. Canaccord Genuity Group’s target price points to a potential upside of 242.47% from the stock’s current price.

HIVE has been the subject of several other research reports. B. Riley reiterated a “buy” rating on shares of HIVE Digital Technologies in a research note on Wednesday, October 22nd. HC Wainwright increased their target price on shares of HIVE Digital Technologies from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday. Zacks Research raised HIVE Digital Technologies to a “hold” rating in a research note on Friday, August 8th. Wall Street Zen upgraded HIVE Digital Technologies from a “strong sell” rating to a “hold” rating in a report on Saturday, August 16th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of HIVE Digital Technologies in a research note on Friday, October 31st. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, HIVE Digital Technologies has an average rating of “Moderate Buy” and a consensus price target of $8.29.

HIVE Digital Technologies Stock Down 5.2%

HIVE Digital Technologies stock opened at $2.92 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.55 and a quick ratio of 3.42. HIVE Digital Technologies has a 1-year low of $1.26 and a 1-year high of $7.84. The company has a market cap of $694.11 million, a PE ratio of -13.90 and a beta of 3.54. The stock’s 50 day moving average price is $4.79 and its 200 day moving average price is $3.09.

HIVE Digital Technologies (NASDAQ:HIVE) last released its earnings results on Friday, November 14th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The business had revenue of $83.37 million during the quarter, compared to analyst estimates of $80.62 million. HIVE Digital Technologies had a negative net margin of 16.18% and a negative return on equity of 14.15%. On average, sell-side analysts predict that HIVE Digital Technologies will post -0.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of HIVE. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of HIVE Digital Technologies by 3.5% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 128,801 shares of the company’s stock worth $519,000 after purchasing an additional 4,351 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in HIVE Digital Technologies by 21.4% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 25,388 shares of the company’s stock worth $102,000 after buying an additional 4,472 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of HIVE Digital Technologies by 21.9% in the second quarter. Caitong International Asset Management Co. Ltd now owns 30,280 shares of the company’s stock worth $55,000 after acquiring an additional 5,435 shares during the last quarter. Invesco Ltd. lifted its position in shares of HIVE Digital Technologies by 6.4% in the second quarter. Invesco Ltd. now owns 152,782 shares of the company’s stock valued at $275,000 after acquiring an additional 9,241 shares in the last quarter. Finally, WMG Financial Advisors LLC purchased a new stake in shares of HIVE Digital Technologies in the third quarter valued at $40,000. 24.42% of the stock is owned by hedge funds and other 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.