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

HIVE Digital Technologies (NASDAQ:HIVE)‘s stock had its “buy” rating restated by research analysts at Canaccord Genuity Group in a report released on Wednesday,Benzinga reports. They currently have a $9.00 price target on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 459.01% from the company’s current price.

HIVE has been the subject of a number of other reports. Cantor Fitzgerald dropped their price target on shares of HIVE Digital Technologies from $10.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, March 11th. Roth Mkm assumed coverage on HIVE Digital Technologies in a research note on Thursday, December 19th. They set a “buy” rating and a $7.50 target price on the stock. StockNews.com raised HIVE Digital Technologies to a “sell” rating in a research note on Tuesday, January 14th. Rosenblatt Securities initiated coverage on HIVE Digital Technologies in a research report on Friday, March 7th. They issued a “buy” rating and a $6.00 price objective on the stock. Finally, Roth Capital upgraded HIVE Digital Technologies to a “strong-buy” rating in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $7.64.

HIVE Digital Technologies Trading Down 4.2 %

Shares of NASDAQ HIVE opened at $1.61 on Wednesday. HIVE Digital Technologies has a 1-year low of $1.60 and a 1-year high of $5.54. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.41 and a quick ratio of 10.41. The business’s 50 day moving average is $2.39 and its two-hundred day moving average is $3.15. The stock has a market capitalization of $254.53 million, a P/E ratio of -32.20 and a beta of 3.51.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate 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%. As a group, research analysts expect that HIVE Digital Technologies will post -0.32 EPS for the current year.

Institutional Investors Weigh In On HIVE Digital Technologies

A number of institutional investors have recently added to or reduced their stakes in HIVE. State Street Corp lifted its position 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 valued at $10,060,000 after buying an additional 91,056 shares during the last quarter. Van ECK Associates Corp grew its holdings in HIVE Digital Technologies by 17.9% in the fourth quarter. Van ECK Associates Corp now owns 4,562,489 shares of the company’s stock worth $13,003,000 after purchasing an additional 692,799 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of HIVE Digital Technologies during the 3rd quarter valued at $463,000. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in shares of HIVE Digital Technologies in the 4th quarter worth $2,058,000. Finally, Wellington Management Group LLP purchased a new position in HIVE Digital Technologies during the 3rd quarter worth $120,000. 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.