HIVE Digital Technologies’ (HIVE) Buy Rating Reiterated at Canaccord Genuity Group

HIVE Digital Technologies (NASDAQ:HIVE)‘s stock had its “buy” rating restated by analysts at Canaccord Genuity Group in a note issued to investors on Monday, Benzinga reports. They presently have a $10.00 price objective on the stock. Canaccord Genuity Group‘s target price points to a potential upside of 398.75% from the stock’s current price.

HIVE has been the subject of a number of other research reports. Weiss Ratings raised shares of HIVE Digital Technologies from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, August 14th. Rosenblatt Securities lifted their price objective on shares of HIVE Digital Technologies from $5.50 to $6.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Chardan Capital reaffirmed a “buy” rating and issued a $7.50 price objective on shares of HIVE Digital Technologies in a report on Wednesday, September 16th. Wall Street Zen cut shares of HIVE Digital Technologies from a “sell” rating to a “strong sell” rating in a report on Sunday, July 12th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price objective on shares of HIVE Digital Technologies in a report on Monday, August 17th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, HIVE Digital Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.95.

HIVE Digital Technologies Stock Performance

Shares of HIVE Digital Technologies stock traded up $0.03 during trading on Monday, hitting $2.01. 5,665,620 shares of the company’s stock were exchanged, compared to its average volume of 18,208,928. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.96 and a current ratio of 1.96. The business has a 50-day simple moving average of $2.86 and a 200-day simple moving average of $3.08. HIVE Digital Technologies has a 52-week low of $1.73 and a 52-week high of $6.30. The stock has a market capitalization of $553.82 million, a price-to-earnings ratio of -1.56 and a beta of 3.76.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.33). HIVE Digital Technologies had a negative net margin of 98.49% and a negative return on equity of 31.98%. The firm had revenue of $79.12 million during the quarter, compared to analysts’ expectations of $81.72 million. During the same period in the previous year, the firm posted $0.18 EPS. On average, research analysts forecast that HIVE Digital Technologies will post -0.61 EPS for the current year.

Insider Activity

In other news, Director Dave Perrill sold 12,500 shares of HIVE Digital Technologies stock in a transaction dated Wednesday, October 7th. The shares were sold at an average price of $2.75, for a total value of $34,375.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Institutional Trading of HIVE Digital Technologies

Several institutional investors have recently modified their holdings of the stock. TD Waterhouse Canada Inc. grew its position in shares of HIVE Digital Technologies by 35.9% in the second quarter. TD Waterhouse Canada Inc. now owns 18,476 shares of the company’s stock valued at $64,000 after purchasing an additional 4,877 shares during the period. Caitong International Asset Management Co. Ltd grew its position in shares of HIVE Digital Technologies by 98.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 13,996 shares of the company’s stock valued at $36,000 after purchasing an additional 6,956 shares during the period. Kellett Wealth Advisors LLC grew its position in shares of HIVE Digital Technologies by 80.0% in the third quarter. Kellett Wealth Advisors LLC now owns 18,000 shares of the company’s stock valued at $53,000 after purchasing an additional 8,000 shares during the period. Verity Asset Management Inc. acquired a new stake in shares of HIVE Digital Technologies in the second quarter valued at about $44,000. Finally, Private Advisor Group LLC acquired a new stake in shares of HIVE Digital Technologies in the first quarter valued at about $27,000. Institutional investors and hedge funds own 24.42% of the company’s stock.

About HIVE Digital Technologies

HIVE Digital Technologies Ltd. is a digital-asset and data-center infrastructure company focused primarily on the mining of Bitcoin. The company operates specialized computing facilities designed to support energy-intensive digital-asset mining and has also been developing capabilities for high-performance computing and artificial-intelligence applications.

HIVE was founded in 2017 and was formerly known as HIVE Blockchain Technologies Ltd. Its operations have historically included data centers in Canada, Sweden and Iceland, and the company has expanded its infrastructure footprint internationally, including through development activities in Paraguay.