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

HIVE Digital Technologies (NASDAQ:HIVE) had its price target raised by Canaccord Genuity Group from $6.00 to $7.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts have also recently issued reports about the company. Northland Capmk raised HIVE Digital Technologies to a “strong-buy” rating in a research report on Thursday, September 19th. Cantor Fitzgerald started coverage on HIVE Digital Technologies in a report on Tuesday, October 29th. They set an “overweight” rating and a $9.00 price target for 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 note on Thursday, August 15th. Northland Securities started coverage on HIVE Digital Technologies in a research note on Thursday, September 19th. They set an “outperform” rating and a $5.50 price objective on the stock. Finally, B. Riley assumed coverage on HIVE Digital Technologies in a research note on Friday, July 19th. They set a “buy” rating and a $6.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $7.17.

HIVE Digital Technologies Stock Up 3.0 %

Shares of NASDAQ:HIVE traded up $0.13 during mid-day trading on Thursday, reaching $4.43. 4,425,509 shares of the stock were exchanged, compared to its average volume of 3,562,041. The company has a quick ratio of 7.35, a current ratio of 5.56 and a debt-to-equity ratio of 0.06. The company has a market cap of $561.86 million, a P/E ratio of -30.75 and a beta of 3.43. HIVE Digital Technologies has a one year low of $2.18 and a one year high of $5.74. The stock’s 50 day simple moving average is $3.51 and its 200-day simple moving average is $3.20.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $25.32 million. During the same period in the prior year, the firm posted ($0.29) earnings per share. As a group, equities research analysts predict that HIVE Digital Technologies will post -0.28 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in HIVE. Lifeworks Advisors LLC acquired a new position in shares of HIVE Digital Technologies in the 3rd quarter valued at about $35,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of HIVE Digital Technologies in the 2nd quarter valued at about $36,000. Gladstone Institutional Advisory LLC acquired a new position in shares of HIVE Digital Technologies in the 3rd quarter valued at about $44,000. Quadrature Capital Ltd acquired a new position in shares of HIVE Digital Technologies in the 3rd quarter valued at about $50,000. Finally, Impact Partnership Wealth LLC lifted its stake in shares of HIVE Digital Technologies by 202.4% in the 2nd quarter. Impact Partnership Wealth LLC now owns 48,945 shares of the company’s stock valued at $151,000 after purchasing an additional 32,760 shares during the period. 24.42% of the stock is owned by institutional investors and hedge funds.

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.