HIVE Digital Technologies (NASDAQ:HIVE) Given 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 note issued on Wednesday,Benzinga reports. They currently have a $9.00 price objective on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 459.01% from the stock’s previous close.

HIVE has been the topic of several other research reports. Roth Capital upgraded HIVE Digital Technologies to a “strong-buy” rating in a research report on Wednesday, December 18th. HC Wainwright reissued a “buy” rating and set a $10.00 price target (up from $8.00) on shares of HIVE Digital Technologies in a report on Thursday, February 13th. Rosenblatt Securities began coverage on shares of HIVE Digital Technologies in a research report on Friday, March 7th. They issued a “buy” rating and a $6.00 price objective for the company. Roth Mkm initiated coverage on shares of 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. Finally, Keefe, Bruyette & Woods began coverage on HIVE Digital Technologies in a research note on Wednesday, January 8th. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a sell rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $7.64.

HIVE Digital Technologies Price Performance

Shares of HIVE opened at $1.61 on Wednesday. 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 company’s fifty day moving average price is $2.39 and its 200-day moving average price is $3.15. HIVE Digital Technologies has a 1-year low of $1.60 and a 1-year high of $5.54. The firm has a market capitalization of $254.53 million, a PE ratio of -32.20 and a beta of 3.51.

HIVE Digital Technologies (NASDAQ:HIVE) last posted 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%. On average, equities research analysts predict that HIVE Digital Technologies will post -0.32 EPS for the current year.

Institutional Trading of HIVE Digital Technologies

A number of institutional investors have recently made changes to their positions in the company. Lifeworks Advisors LLC raised its stake in HIVE Digital Technologies by 46.2% in the 4th quarter. Lifeworks Advisors LLC now owns 16,307 shares of the company’s stock valued at $46,000 after purchasing an additional 5,152 shares during the last quarter. Impact Partnership Wealth LLC lifted its stake in shares of HIVE Digital Technologies by 11.0% in the fourth quarter. Impact Partnership Wealth LLC now owns 53,231 shares of the company’s stock worth $152,000 after buying an additional 5,277 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of HIVE Digital Technologies by 60.9% in the fourth quarter. Wells Fargo & Company MN now owns 15,320 shares of the company’s stock worth $44,000 after buying an additional 5,800 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in HIVE Digital Technologies by 15.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,351 shares of the company’s stock worth $178,000 after acquiring an additional 8,158 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in HIVE Digital Technologies in the 4th quarter valued at about $26,000. 24.42% of the stock is owned by institutional investors and hedge funds.

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.