HIVE Digital Technologies (NASDAQ:HIVE) Stock Keeps Buy Rating at Canaccord Genuity Group

HIVE Digital Technologies (NASDAQ:HIVE)‘s stock had its “buy” rating reissued by equities research analysts at Canaccord Genuity Group in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $10.00 target price on the stock. Canaccord Genuity Group‘s target price would suggest a potential upside of 392.61% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $7.00 price target on shares of HIVE Digital Technologies in a research note on Monday, August 17th. Rosenblatt Securities upped their target price on HIVE Digital Technologies from $5.50 to $6.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Chardan Capital reissued a “buy” rating and set a $7.50 target price on shares of HIVE Digital Technologies in a report on Wednesday, September 16th. Wall Street Zen cut HIVE Digital Technologies from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 12th. Finally, Weiss Ratings raised HIVE Digital Technologies from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, August 14th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $6.95.

HIVE Digital Technologies Stock Performance

NASDAQ HIVE traded up $0.06 on Monday, reaching $2.03. The stock had a trading volume of 11,507,739 shares, compared to its average volume of 18,241,410. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.96 and a quick ratio of 1.96. The company has a market cap of $560.73 million, a P/E ratio of -1.57 and a beta of 3.76. The firm has a fifty day moving average of $2.86 and a two-hundred day moving average of $3.08. HIVE Digital Technologies has a 1-year low of $1.73 and a 1-year high of $6.30.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its earnings results 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 return on equity of 31.98% and a negative net margin of 98.49%. The firm had revenue of $79.12 million for the quarter, compared to analyst estimates of $81.72 million. During the same period in the prior year, the business posted $0.18 EPS. On average, equities research analysts anticipate that HIVE Digital Technologies will post -0.61 EPS for the current year.

Insider Buying and Selling at HIVE Digital Technologies

In other HIVE Digital Technologies news, Director Dave Perrill sold 12,500 shares of the business’s stock in a transaction on Wednesday, October 7th. The shares were sold at an average price of $2.75, for a total transaction of $34,375.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Institutional Trading of HIVE Digital Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. TD Waterhouse Canada Inc. increased its holdings in HIVE Digital Technologies by 61.6% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 29,851 shares of the company’s stock worth $87,000 after purchasing an additional 11,375 shares in the last quarter. Kellett Wealth Advisors LLC increased its stake 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 buying an additional 8,000 shares during the period. WINTON GROUP Ltd increased its stake in shares of HIVE Digital Technologies by 458.9% in the second quarter. WINTON GROUP Ltd now owns 59,800 shares of the company’s stock valued at $218,000 after buying an additional 49,100 shares during the period. Engineers Gate Manager LP acquired a new position in shares of HIVE Digital Technologies in the second quarter valued at approximately $628,000. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of HIVE Digital Technologies in the second quarter valued at approximately $130,000. Institutional investors 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.