HIVE Digital Technologies (NASDAQ:HIVE) Receives “Buy” Rating from Canaccord Genuity Group

HIVE Digital Technologies (NASDAQ:HIVE)‘s stock had its “buy” rating reiterated by analysts at Canaccord Genuity Group in a report issued on Thursday, Benzinga reports. They presently have a $6.00 price objective on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 81.82% from the company’s previous close.

A number of other research firms also recently weighed in on HIVE. HC Wainwright reaffirmed a “neutral” rating and issued a $3.50 price target on shares of HIVE Digital Technologies in a research note on Wednesday, February 14th. StockNews.com raised shares of HIVE Digital Technologies to a “sell” rating in a research note on Monday, March 18th.

HIVE Digital Technologies Price Performance

HIVE traded up $0.06 during trading on Thursday, reaching $3.30. The stock had a trading volume of 2,656,228 shares, compared to its average volume of 3,238,658. The firm has a market capitalization of $347.99 million, a price-to-earnings ratio of -5.20 and a beta of 3.56. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 0.11. HIVE Digital Technologies has a 1-year low of $2.75 and a 1-year high of $6.84. The stock has a 50 day moving average of $3.48 and a two-hundred day moving average of $3.47.

HIVE Digital Technologies (NASDAQ:HIVE) last released its earnings results on Tuesday, February 13th. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.15. HIVE Digital Technologies had a negative return on equity of 34.90% and a negative net margin of 57.15%. The firm had revenue of $31.25 million during the quarter, compared to the consensus estimate of $27.20 million. As a group, equities analysts anticipate that HIVE Digital Technologies will post -0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On HIVE Digital Technologies

A number of hedge funds have recently bought and sold shares of the company. Toroso Investments LLC lifted its stake in shares of HIVE Digital Technologies by 8,288.1% in the fourth quarter. Toroso Investments LLC now owns 2,121,433 shares of the company’s stock valued at $3,055,000 after buying an additional 2,096,142 shares during the period. State Street Corp lifted its stake in shares of HIVE Digital Technologies by 217.2% in the second quarter. State Street Corp now owns 1,304,662 shares of the company’s stock valued at $6,041,000 after buying an additional 893,402 shares during the period. Van ECK Associates Corp lifted its stake in shares of HIVE Digital Technologies by 39.8% in the fourth quarter. Van ECK Associates Corp now owns 1,843,702 shares of the company’s stock valued at $8,352,000 after buying an additional 524,613 shares during the period. Vident Advisory LLC lifted its stake in shares of HIVE Digital Technologies by 92.8% in the fourth quarter. Vident Advisory LLC now owns 972,921 shares of the company’s stock valued at $4,405,000 after buying an additional 468,421 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of HIVE Digital Technologies by 385.4% in the fourth quarter. Millennium Management LLC now owns 578,099 shares of the company’s stock valued at $833,000 after buying an additional 458,999 shares during the period. 24.42% of the stock is currently 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.