Canaccord Genuity Group Increases HIVE Digital Technologies (NASDAQ:HIVE) Price Target to $7.00

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) had its target price increased by investment analysts at Canaccord Genuity Group from $6.00 to $7.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's target price indicates a potential upside of 62.60% from the stock's previous close.

Other equities analysts also recently issued reports about the company. HC Wainwright upgraded HIVE Digital Technologies from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $4.00 to $5.00 in a research report on Thursday, August 15th. Cantor Fitzgerald assumed 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 for the company. Northland Securities assumed coverage on shares of HIVE Digital Technologies in a research report on Thursday, September 19th. They set an "outperform" rating and a $5.50 price target on the stock. Northland Capmk raised HIVE Digital Technologies to a "strong-buy" rating in a research report on Thursday, September 19th. Finally, B. Riley initiated coverage on HIVE Digital Technologies in a research report on Friday, July 19th. They set a "buy" rating and a $6.00 target price on the stock. One analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $7.17.

HIVE Digital Technologies Trading Down 7.8 %

Shares of HIVE stock traded down $0.37 during mid-day trading on Thursday, reaching $4.31. 5,348,873 shares of the stock traded hands, compared to its average volume of 3,557,986. The stock's fifty day simple moving average is $3.51 and its two-hundred day simple moving average is $3.20. HIVE Digital Technologies has a 1-year low of $2.18 and a 1-year high of $5.74. The company has a quick ratio of 7.35, a current ratio of 7.35 and a debt-to-equity ratio of 0.06. The company has a market cap of $535.24 million, a price-to-earnings ratio of -30.75 and a beta of 3.43.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last posted its earnings results on Monday, August 12th. The company reported ($0.08) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.08). The firm had revenue of $32.24 million for the quarter, compared to analyst estimates of $31.85 million. HIVE Digital Technologies had a negative net margin of 12.04% and a negative return on equity of 11.25%. On average, research analysts anticipate that HIVE Digital Technologies will post -0.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Vident Advisory LLC grew its holdings in shares of HIVE Digital Technologies by 78.6% in the first quarter. Vident Advisory LLC now owns 1,737,308 shares of the company's stock valued at $5,856,000 after acquiring an additional 764,387 shares in the last quarter. Van ECK Associates Corp boosted its stake in HIVE Digital Technologies by 35.4% in the 2nd quarter. Van ECK Associates Corp now owns 3,894,605 shares of the company's stock worth $11,995,000 after purchasing an additional 1,018,231 shares during the period. Impact Partnership Wealth LLC lifted its holdings in shares of HIVE Digital Technologies by 202.4% in the second quarter. Impact Partnership Wealth LLC now owns 48,945 shares of the company's stock worth $151,000 after buying an additional 32,760 shares in the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in shares of HIVE Digital Technologies in the second quarter valued at approximately $36,000. Finally, Gladstone Institutional Advisory LLC bought a new stake in HIVE Digital Technologies during the 3rd quarter worth approximately $44,000. 24.42% of the stock is owned by institutional investors.

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.