Canaccord Genuity Group Raises HIVE Digital Technologies (NASDAQ:HIVE) Price Target to $9.00

HIVE Digital Technologies (NASDAQ:HIVE) had its target price upped by investment analysts at Canaccord Genuity Group from $8.00 to $9.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 214.69% from the company’s previous close.

Several other equities analysts have also recently issued reports on HIVE. Roth Mkm assumed coverage on HIVE Digital Technologies in a report on Thursday, December 19th. They set a “buy” rating and a $7.50 price objective for the company. Northland Securities lifted their price objective on HIVE Digital Technologies from $5.50 to $7.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Keefe, Bruyette & Woods assumed coverage on HIVE Digital Technologies in a report on Wednesday, January 8th. They set an “outperform” rating for the company. StockNews.com raised HIVE Digital Technologies to a “sell” rating in a report on Tuesday, January 14th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $8.00 price objective on shares of HIVE Digital Technologies in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $8.08.

HIVE Digital Technologies Stock Up 4.0 %

HIVE opened at $2.86 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.56 and a quick ratio of 5.56. The business has a 50 day simple moving average of $3.17 and a 200-day simple moving average of $3.37. The stock has a market capitalization of $423.49 million, a P/E ratio of -20.43 and a beta of 3.46. HIVE Digital Technologies has a 12 month low of $2.18 and a 12 month high of $5.54.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.05. HIVE Digital Technologies had a negative return on equity of 10.78% and a negative net margin of 12.04%. On average, equities analysts anticipate that HIVE Digital Technologies will post -0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On HIVE Digital Technologies

Hedge funds have recently bought and sold shares of the stock. Lifeworks Advisors LLC purchased a new position in HIVE Digital Technologies during the third quarter worth $35,000. Gladstone Institutional Advisory LLC purchased a new stake in shares of HIVE Digital Technologies in the third quarter valued at $44,000. Wells Fargo & Company MN grew its position 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 valued at $44,000 after purchasing an additional 5,800 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of HIVE Digital Technologies in the third quarter valued at $50,000. Finally, Franklin Resources Inc. purchased a new stake in shares of HIVE Digital Technologies in the fourth quarter valued at $53,000. Hedge funds and other institutional investors own 24.42% of the company’s stock.

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.