HIVE Digital Technologies (NASDAQ:HIVE) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

HIVE Digital Technologies (NASDAQ:HIVE) had its price objective lifted by Canaccord Genuity Group from $6.00 to $7.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also issued reports on the company. Cantor Fitzgerald began coverage on HIVE Digital Technologies in a report on Tuesday, October 29th. They issued an “overweight” rating and a $9.00 target price for the company. B. Riley assumed coverage on HIVE Digital Technologies in a report on Friday, July 19th. They issued a “buy” rating and a $6.00 target price for the company. HC Wainwright upgraded HIVE Digital Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the company from $4.00 to $5.00 in a research note on Thursday, August 15th. Northland Securities assumed coverage on HIVE Digital Technologies in a research note on Thursday, September 19th. They issued an “outperform” rating and a $5.50 price objective on the stock. Finally, Northland Capmk upgraded HIVE Digital Technologies to a “strong-buy” rating in a research note on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, HIVE Digital Technologies has an average rating of “Moderate Buy” and a consensus target price of $7.17.

HIVE Digital Technologies Stock Up 3.0 %

HIVE Digital Technologies stock traded up $0.13 during midday trading on Thursday, reaching $4.43. The stock had a trading volume of 4,425,509 shares, compared to its average volume of 3,562,041. HIVE Digital Technologies has a 12 month low of $2.18 and a 12 month high of $5.74. The company has a market capitalization of $561.86 million, a P/E ratio of -30.75 and a beta of 3.43. The company has a fifty day moving average price of $3.51 and a two-hundred day moving average price of $3.20. The company has a current ratio of 5.56, a quick ratio of 7.35 and a debt-to-equity ratio of 0.06.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. The firm had revenue of $22.65 million during the quarter, compared to analyst estimates of $25.32 million. HIVE Digital Technologies had a negative return on equity of 10.78% and a negative net margin of 12.04%. During the same period in the previous year, the company posted ($0.29) EPS. As a group, equities analysts expect that HIVE Digital Technologies will post -0.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of HIVE Digital Technologies by 2.9% during the third quarter. State Street Corp now owns 3,214,101 shares of the company’s stock worth $10,060,000 after purchasing an additional 91,056 shares during the period. Quadrature Capital Ltd purchased a new stake in HIVE Digital Technologies in the third quarter worth about $50,000. Centiva Capital LP purchased a new stake in HIVE Digital Technologies in the third quarter worth about $235,000. Charles Schwab Investment Management Inc. lifted its holdings in HIVE Digital Technologies by 48.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 325,216 shares of the company’s stock worth $1,018,000 after buying an additional 106,103 shares during the period. Finally, Lifeworks Advisors LLC purchased a new stake in HIVE Digital Technologies in the third quarter worth about $35,000. 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.