Canaccord Genuity Group Reiterates "Buy" Rating for HIVE Digital Technologies (NASDAQ:HIVE)

Canaccord Genuity Group restated their buy rating on shares of HIVE Digital Technologies (NASDAQ:HIVE - Free Report) in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a $9.00 target price on the stock.

Several other analysts also recently issued reports on the stock. Rosenblatt Securities started coverage on shares of HIVE Digital Technologies in a research note on Friday, March 7th. They issued a "buy" rating and a $6.00 price objective for the company. 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 research note on Thursday, February 13th. Keefe, Bruyette & Woods started coverage on HIVE Digital Technologies in a research report on Wednesday, January 8th. They issued an "outperform" rating on the stock. Roth Capital upgraded HIVE Digital Technologies to a "strong-buy" rating in a research report on Wednesday, December 18th. Finally, Cantor Fitzgerald lowered their target price on shares of HIVE Digital Technologies from $10.00 to $8.00 and set an "overweight" rating for the company in a research note on Tuesday, March 11th. One research 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 company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $7.64.

HIVE Digital Technologies Trading Down 6.8 %

NASDAQ:HIVE traded down $0.11 during midday trading on Wednesday, hitting $1.50. 8,159,346 shares of the company traded hands, compared to its average volume of 5,729,835. The firm has a market capitalization of $237.14 million, a P/E ratio of -30.00 and a beta of 3.51. The firm's fifty day moving average is $2.36 and its 200-day moving average is $3.14. HIVE Digital Technologies has a 12-month low of $1.48 and a 12-month high of $5.54. The company has a current ratio of 10.41, a quick ratio of 10.41 and a debt-to-equity ratio of 0.03.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last announced its 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 net margin of 5.45% and a negative return on equity of 8.95%. On average, sell-side analysts predict that HIVE Digital Technologies will post -0.32 EPS for the current year.

Institutional Trading of HIVE Digital Technologies

Hedge funds have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of HIVE Digital Technologies in the 4th quarter worth approximately $26,000. Wells Fargo & Company MN raised its stake in 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. Lifeworks Advisors LLC lifted its holdings in HIVE Digital Technologies by 46.2% during the fourth quarter. Lifeworks Advisors LLC now owns 16,307 shares of the company's stock worth $46,000 after buying an additional 5,152 shares during the period. Quadrature Capital Ltd bought a new stake in HIVE Digital Technologies during the 3rd quarter valued at $50,000. Finally, Franklin Resources Inc. purchased a new position in shares of HIVE Digital Technologies in the 4th quarter valued at $53,000. 24.42% of the stock is owned by hedge funds and other institutional investors.

HIVE Digital Technologies Company Profile

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.