Canaccord Genuity Group Raises HIVE Digital Technologies (NASDAQ:HIVE) Price Target to $8.00

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) had its target price hoisted by investment analysts at Canaccord Genuity Group from $7.00 to $8.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Canaccord Genuity Group's target price points to a potential upside of 182.69% from the company's previous close.

HIVE has been the subject of a number of other research reports. Roth Capital upgraded HIVE Digital Technologies to a "strong-buy" rating in a research report on Wednesday, December 18th. Northland Securities raised their target price on shares of HIVE Digital Technologies from $5.50 to $7.00 and gave the company an "outperform" rating in a research note on Thursday, November 14th. Keefe, Bruyette & Woods initiated coverage on shares of HIVE Digital Technologies in a research note on Wednesday, January 8th. They issued an "outperform" rating for the company. HC Wainwright reiterated a "buy" rating and issued a $8.00 price objective on shares of HIVE Digital Technologies in a report on Wednesday, January 29th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $9.00 target price on shares of HIVE Digital Technologies in a report on Tuesday, November 19th. One equities research 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's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $7.58.

HIVE Digital Technologies Stock Performance

Shares of HIVE Digital Technologies stock remained flat at $2.83 on Thursday. The stock had a trading volume of 10,384,046 shares, compared to its average volume of 11,023,803. The stock has a market capitalization of $419.04 million, a price-to-earnings ratio of -20.21 and a beta of 3.46. HIVE Digital Technologies has a fifty-two week low of $2.18 and a fifty-two week high of $5.54. The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.56 and a current ratio of 5.56. The stock has a fifty day moving average price of $3.25 and a 200-day moving average price of $3.38.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $22.65 million for the quarter, compared to analyst estimates of $25.32 million. During the same period last year, the company earned ($0.29) earnings per share. As a group, sell-side analysts forecast that HIVE Digital Technologies will post -0.34 earnings per share for the current year.

Institutional Investors Weigh In On HIVE Digital Technologies

A number of institutional investors and hedge funds have recently modified their holdings of HIVE. Generali Investments CEE investicni spolecnost a.s. acquired a new position in shares of HIVE Digital Technologies in the fourth quarter worth about $2,058,000. Van ECK Associates Corp raised its holdings in shares of HIVE Digital Technologies by 17.9% during the fourth quarter. Van ECK Associates Corp now owns 4,562,489 shares of the company's stock valued at $13,003,000 after acquiring an additional 692,799 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of HIVE Digital Technologies by 126.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 736,287 shares of the company's stock valued at $2,098,000 after acquiring an additional 411,071 shares in the last quarter. XTX Topco Ltd acquired a new position in HIVE Digital Technologies in the 3rd quarter worth approximately $463,000. Finally, State Street Corp grew its position in HIVE Digital Technologies by 2.9% during the 3rd quarter. State Street Corp now owns 3,214,101 shares of the company's stock worth $10,060,000 after purchasing an additional 91,056 shares in the last quarter. 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.