Canaccord Genuity Group Forecasts Strong Price Appreciation for HIVE Digital Technologies (NASDAQ:HIVE) Stock

HIVE Digital Technologies (NASDAQ:HIVE) had its price target boosted by Canaccord Genuity Group from $6.00 to $7.00 in a research report released on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms have also recently issued reports on HIVE. Northland Capmk upgraded HIVE Digital Technologies to a “strong-buy” rating in a report on Thursday, September 19th. HC Wainwright raised shares of HIVE Digital Technologies from a “neutral” rating to a “buy” rating and increased their target price for the stock from $4.00 to $5.00 in a research note on Thursday, August 15th. B. Riley started coverage on shares of HIVE Digital Technologies in a research note on Friday, July 19th. They issued a “buy” rating and a $6.00 price target for the company. Cantor Fitzgerald initiated coverage on shares of HIVE Digital Technologies in a research report on Tuesday, October 29th. They set an “overweight” rating and a $9.00 price objective on the stock. Finally, Northland Securities started coverage on HIVE Digital Technologies in a research report on Thursday, September 19th. They issued an “outperform” rating and a $5.50 target price for the company. One investment analyst has rated the stock with a sell rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.40.

HIVE Digital Technologies Trading Up 2.9 %

HIVE stock opened at $4.43 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 7.35 and a current ratio of 5.56. The company’s fifty day simple moving average is $3.54 and its 200 day simple moving average is $3.22. HIVE Digital Technologies has a 12-month low of $2.18 and a 12-month high of $5.74.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. HIVE Digital Technologies had a negative return on equity of 10.78% and a negative net margin of 12.04%. The company had revenue of $22.65 million for the quarter, compared to the consensus estimate of $25.32 million. During the same period in the previous year, the business earned ($0.29) EPS. As a group, research analysts predict that HIVE Digital Technologies will post -0.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Lifeworks Advisors LLC bought a new position in HIVE Digital Technologies in the 3rd quarter valued at about $35,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of HIVE Digital Technologies in the second quarter worth approximately $36,000. Gladstone Institutional Advisory LLC purchased a new stake in shares of HIVE Digital Technologies in the third quarter worth approximately $44,000. Quadrature Capital Ltd purchased a new position in shares of HIVE Digital Technologies during the third quarter valued at approximately $50,000. Finally, Wellington Management Group LLP purchased a new position in shares of HIVE Digital Technologies during the third quarter valued at approximately $120,000. 24.42% of the stock is currently 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.