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

Canaccord Genuity Group reaffirmed their buy rating on shares of HIVE Digital Technologies (NASDAQ:HIVE) in a research note published on Wednesday morning,Benzinga reports. Canaccord Genuity Group currently has a $9.00 price objective on the stock.

A number of other equities research analysts also recently commented on the stock. Rosenblatt Securities began coverage on shares of HIVE Digital Technologies in a report on Friday, March 7th. They set a “buy” rating and a $6.00 price target for the company. HC Wainwright reiterated a “buy” rating and issued a $10.00 price target (up from $8.00) on shares of HIVE Digital Technologies in a report on Thursday, February 13th. Roth Mkm started coverage on HIVE Digital Technologies in a research note on Thursday, December 19th. They set a “buy” rating and a $7.50 price target on the stock. StockNews.com raised HIVE Digital Technologies to a “sell” rating in a research report on Tuesday, January 14th. Finally, Roth Capital upgraded HIVE Digital Technologies to a “strong-buy” rating in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $7.64.

HIVE Digital Technologies Price Performance

Shares of NASDAQ:HIVE opened at $1.50 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.41 and a current ratio of 10.41. The business’s fifty day moving average price is $2.36 and its two-hundred day moving average price is $3.14. The stock has a market cap of $237.14 million, a PE ratio of -30.00 and a beta of 3.51. HIVE Digital Technologies has a one year low of $1.48 and a one year high of $5.54.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.06) EPS for the quarter, topping 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%. On average, analysts forecast that HIVE Digital Technologies will post -0.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in HIVE Digital Technologies during the fourth quarter worth about $26,000. Wells Fargo & Company MN grew its holdings in shares of HIVE Digital Technologies by 60.9% during the 4th quarter. Wells Fargo & Company MN now owns 15,320 shares of the company’s stock worth $44,000 after purchasing an additional 5,800 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of HIVE Digital Technologies during the 3rd quarter worth about $50,000. Lifeworks Advisors LLC raised its holdings in HIVE Digital Technologies by 46.2% in the fourth quarter. Lifeworks Advisors LLC now owns 16,307 shares of the company’s stock valued at $46,000 after buying an additional 5,152 shares during the period. Finally, Franklin Resources Inc. acquired a new position in shares of HIVE Digital Technologies during the 4th quarter valued at $53,000. Institutional investors and hedge funds 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.