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

HIVE Digital Technologies (NASDAQ:HIVE - Free Report) had its price objective hoisted by Canaccord Genuity Group from $8.00 to $9.00 in a report released on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

HIVE has been the subject of a number of other reports. StockNews.com upgraded HIVE Digital Technologies to a "sell" rating in a report on Tuesday, January 14th. Keefe, Bruyette & Woods began coverage on HIVE Digital Technologies in a report on Wednesday, January 8th. They set an "outperform" rating for the company. Cantor Fitzgerald reiterated an "overweight" rating and set a $9.00 price target on shares of HIVE Digital Technologies in a report on Tuesday, November 19th. Roth Capital raised shares of HIVE Digital Technologies to a "strong-buy" rating in a research report on Wednesday, December 18th. Finally, Northland Securities increased their price objective on shares of HIVE Digital Technologies from $5.50 to $7.00 and gave the stock an "outperform" rating in a research report on Thursday, November 14th. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $8.08.

HIVE Digital Technologies Trading Down 0.3 %

NASDAQ HIVE traded down $0.01 on Wednesday, reaching $2.85. The company had a trading volume of 6,221,402 shares, compared to its average volume of 10,176,283. The firm has a market cap of $422.00 million, a price-to-earnings ratio of -20.36 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 business has a 50 day moving average of $3.14 and a two-hundred day moving average of $3.36. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.56 and a quick ratio of 5.56.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates 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%. Analysts forecast that HIVE Digital Technologies will post -0.34 EPS for the current year.

Hedge Funds Weigh In On HIVE Digital Technologies

Several large investors have recently added to or reduced their stakes in the business. Oxford Asset Management LLP bought a new position in HIVE Digital Technologies in the 4th quarter valued at about $201,000. Stifel Financial Corp bought a new position in HIVE Digital Technologies in the 4th quarter valued at about $223,000. XTX Topco Ltd lifted its position in HIVE Digital Technologies by 126.8% in the 4th quarter. XTX Topco Ltd now owns 335,499 shares of the company's stock valued at $956,000 after acquiring an additional 187,576 shares in the last quarter. Phoenix Financial Ltd. lifted its position in HIVE Digital Technologies by 89.8% in the 4th quarter. Phoenix Financial Ltd. now owns 115,200 shares of the company's stock valued at $328,000 after acquiring an additional 54,500 shares in the last quarter. Finally, Invesco Ltd. lifted its position in HIVE Digital Technologies by 12.8% in the 4th quarter. Invesco Ltd. now owns 101,092 shares of the company's stock valued at $288,000 after acquiring an additional 11,458 shares in the last quarter. 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.