HIVE Digital Technologies’ (HIVE) “Buy” Rating Reaffirmed at Canaccord Genuity Group

HIVE Digital Technologies (NASDAQ:HIVE)‘s stock had its “buy” rating reaffirmed by Canaccord Genuity Group in a research note issued on Thursday, Benzinga reports. They currently have a $6.00 price objective on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 81.82% from the stock’s current price.

Other analysts have also recently issued reports about the stock. HC Wainwright restated a “neutral” rating and set a $3.50 target price on shares of HIVE Digital Technologies in a research report on Wednesday, February 14th. StockNews.com upgraded shares of HIVE Digital Technologies to a “sell” rating in a research note on Monday, March 18th.

HIVE Digital Technologies Stock Up 1.9 %

Shares of HIVE stock traded up $0.06 during trading hours on Thursday, hitting $3.30. 2,656,228 shares of the company’s stock traded hands, compared to its average volume of 3,238,658. The stock has a market cap of $347.99 million, a price-to-earnings ratio of -5.20 and a beta of 3.56. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 0.11. The stock’s fifty day simple moving average is $3.48 and its two-hundred day simple moving average is $3.47. HIVE Digital Technologies has a 12-month low of $2.75 and a 12-month high of $6.84.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its quarterly earnings data on Tuesday, February 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.15. HIVE Digital Technologies had a negative net margin of 57.15% and a negative return on equity of 34.90%. The firm had revenue of $31.25 million during the quarter, compared to the consensus estimate of $27.20 million. On average, analysts expect that HIVE Digital Technologies will post -0.51 EPS for the current year.

Hedge Funds Weigh In On HIVE Digital Technologies

A number of large investors have recently made changes to their positions in the stock. Financial Advocates Investment Management increased its holdings in shares of HIVE Digital Technologies by 10.8% in the 4th quarter. Financial Advocates Investment Management now owns 31,644 shares of the company’s stock valued at $143,000 after purchasing an additional 3,080 shares in the last quarter. Two Sigma Advisers LP increased its holdings in shares of HIVE Digital Technologies by 34.1% in the 1st quarter. Two Sigma Advisers LP now owns 19,800 shares of the company’s stock valued at $65,000 after purchasing an additional 5,040 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of HIVE Digital Technologies by 158.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,125 shares of the company’s stock valued at $52,000 after purchasing an additional 6,824 shares in the last quarter. Captrust Financial Advisors increased its holdings in HIVE Digital Technologies by 786.9% during the 3rd quarter. Captrust Financial Advisors now owns 10,448 shares of the company’s stock valued at $39,000 after acquiring an additional 9,270 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in HIVE Digital Technologies by 18.1% during the 3rd quarter. Wellington Management Group LLP now owns 62,704 shares of the company’s stock valued at $194,000 after acquiring an additional 9,627 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.