HIVE Digital Technologies (NASDAQ:HIVE) Price Target Raised to $7.00 at Canaccord Genuity Group

HIVE Digital Technologies (NASDAQ:HIVE) had its price objective lifted by Canaccord Genuity Group from $6.00 to $7.00 in a report published on Thursday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other analysts also recently commented on HIVE. Northland Capmk upgraded shares of HIVE Digital Technologies to a “strong-buy” rating in a report on Thursday, September 19th. Cantor Fitzgerald initiated coverage on shares of HIVE Digital Technologies in a report on Tuesday, October 29th. They set an “overweight” rating and a $9.00 target price on the stock. B. Riley initiated coverage on shares of HIVE Digital Technologies in a report on Friday, July 19th. They set a “buy” rating and a $6.00 target price on the stock. Northland Securities initiated coverage on shares of HIVE Digital Technologies in a report on Thursday, September 19th. They set an “outperform” rating and a $5.50 target price on the stock. Finally, HC Wainwright upgraded shares of HIVE Digital Technologies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $4.00 to $5.00 in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, HIVE Digital Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $7.40.

HIVE Digital Technologies Stock Performance

Shares of NASDAQ:HIVE opened at $4.43 on Thursday. The company has a market capitalization of $561.86 million, a price-to-earnings ratio of -31.64 and a beta of 3.43. The firm’s 50 day simple moving average is $3.54 and its 200 day simple moving average is $3.22. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.56 and a quick ratio of 7.35. HIVE Digital Technologies has a fifty-two week low of $2.18 and a fifty-two week high of $5.74.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. The business had revenue of $22.65 million for the quarter, compared to the consensus estimate of $25.32 million. HIVE Digital Technologies had a negative net margin of 12.04% and a negative return on equity of 10.78%. During the same period last year, the company posted ($0.29) EPS. As a group, sell-side analysts forecast that HIVE Digital Technologies will post -0.27 earnings per share for the current year.

Hedge Funds Weigh In On HIVE Digital Technologies

Hedge funds have recently made changes to their positions in the business. Lifeworks Advisors LLC bought a new position in shares of HIVE Digital Technologies during the 3rd quarter worth approximately $35,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of HIVE Digital Technologies during the 2nd quarter worth approximately $36,000. Gladstone Institutional Advisory LLC bought a new position in shares of HIVE Digital Technologies during the 3rd quarter worth approximately $44,000. Quadrature Capital Ltd bought a new position in shares of HIVE Digital Technologies in the third quarter valued at $50,000. Finally, Wellington Management Group LLP acquired a new position in HIVE Digital Technologies during the third quarter worth $120,000. 24.42% of the stock is 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.