Canaccord Genuity Group Issues Positive Forecast for HIVE Digital Technologies (NASDAQ:HIVE) Stock Price

HIVE Digital Technologies (NASDAQ:HIVE) had its price target boosted by Canaccord Genuity Group from $7.00 to $8.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently commented on HIVE. 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. StockNews.com upgraded shares of HIVE Digital Technologies to a “sell” rating in a research report on Tuesday, January 14th. HC Wainwright restated a “buy” rating and set a $8.00 price target on shares of HIVE Digital Technologies in a research report on Wednesday, January 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $9.00 price objective on shares of HIVE Digital Technologies in a research note on Tuesday, November 19th. Finally, Roth Mkm began coverage on HIVE Digital Technologies in a report on Thursday, December 19th. They issued a “buy” rating and a $7.50 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, HIVE Digital Technologies presently has an average rating of “Buy” and a consensus target price of $7.58.

HIVE Digital Technologies Stock Up 0.4 %

Shares of HIVE opened at $2.85 on Thursday. The business’s fifty day moving average price is $3.30 and its 200 day moving average price is $3.41. The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.56 and a current ratio of 5.56. HIVE Digital Technologies has a 12-month low of $2.18 and a 12-month high of $5.54.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. The business had revenue of $22.65 million during the quarter, compared to the consensus estimate of $25.32 million. HIVE Digital Technologies had a negative net margin of 12.04% and a negative return on equity of 10.78%. During the same quarter in the prior year, the firm earned ($0.29) EPS. Research analysts anticipate that HIVE Digital Technologies will post -0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp lifted its holdings in shares of HIVE Digital Technologies by 2.9% during the 3rd quarter. State Street Corp now owns 3,214,101 shares of the company’s stock valued at $10,060,000 after buying an additional 91,056 shares during the last quarter. XTX Topco Ltd acquired a new stake in HIVE Digital Technologies in the third quarter valued at approximately $463,000. Wellington Management Group LLP bought a new stake in HIVE Digital Technologies in the third quarter worth approximately $120,000. Centiva Capital LP acquired a new position in shares of HIVE Digital Technologies during the 3rd quarter worth $235,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of HIVE Digital Technologies by 48.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 325,216 shares of the company’s stock valued at $1,018,000 after purchasing an additional 106,103 shares in the last quarter. Hedge funds and other 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.