Canaccord Genuity Group Forecasts Strong Price Appreciation for HIVE Digital Technologies (NASDAQ:HIVE) Stock

HIVE Digital Technologies (NASDAQ:HIVE) had its price target raised by Canaccord Genuity Group from $7.00 to $8.00 in a report published on Thursday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other research firms also recently weighed in on HIVE. StockNews.com raised HIVE Digital Technologies to a “sell” rating in a research report on Tuesday, January 14th. Northland Securities lifted their price objective on HIVE Digital Technologies from $5.50 to $7.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Roth Mkm started coverage on shares of 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. Keefe, Bruyette & Woods began coverage on shares of HIVE Digital Technologies in a research note on Wednesday, January 8th. They issued an “outperform” rating for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $8.00 price objective on shares of HIVE Digital Technologies in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, HIVE Digital Technologies presently has a consensus rating of “Buy” and an average price target of $7.58.

HIVE Digital Technologies Trading Up 0.4 %

HIVE Digital Technologies stock opened at $2.85 on Thursday. The firm has a fifty day moving average price of $3.30 and a two-hundred day moving average price of $3.41. HIVE Digital Technologies has a fifty-two week low of $2.18 and a fifty-two week high of $5.54. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.56 and a quick ratio of 5.56.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) 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 company had revenue of $22.65 million for the quarter, compared to the consensus estimate of $25.32 million. During the same period in the previous year, the business posted ($0.29) EPS. On average, research analysts anticipate that HIVE Digital Technologies will post -0.34 EPS for the current year.

Institutional Trading of HIVE Digital Technologies

Large investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its holdings in shares of HIVE Digital Technologies by 17.9% in the 4th quarter. Van ECK Associates Corp now owns 4,562,489 shares of the company’s stock worth $13,003,000 after acquiring an additional 692,799 shares in the last quarter. State Street Corp raised its position in HIVE Digital Technologies by 2.9% in the 3rd quarter. State Street Corp now owns 3,214,101 shares of the company’s stock valued at $10,060,000 after purchasing an additional 91,056 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in HIVE Digital Technologies by 126.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 736,287 shares of the company’s stock worth $2,098,000 after purchasing an additional 411,071 shares in the last quarter. XTX Topco Ltd bought a new position in shares of HIVE Digital Technologies in the third quarter valued at about $463,000. Finally, Centiva Capital LP acquired a new position in HIVE Digital Technologies during the 3rd quarter worth about $235,000. 24.42% of the stock is owned by institutional investors.

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.