HIVE Digital Technologies (NASDAQ:HIVE) Price Target Raised to $9.00 at Canaccord Genuity Group

HIVE Digital Technologies (NASDAQ:HIVE) had its price target increased by Canaccord Genuity Group from $8.00 to $9.00 in a research report report published on Wednesday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other research analysts have also commented on HIVE. StockNews.com raised shares of HIVE Digital Technologies to a “sell” rating in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods started coverage on HIVE Digital Technologies in a report on Wednesday, January 8th. They issued an “outperform” rating for the company. HC Wainwright reaffirmed a “buy” rating and set a $8.00 price objective on shares of HIVE Digital Technologies in a report on Wednesday, January 29th. Roth Capital upgraded shares of HIVE Digital Technologies to a “strong-buy” rating in a research report on Wednesday, December 18th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $9.00 target price on shares of HIVE Digital Technologies in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $7.75.

HIVE Digital Technologies Trading Up 1.1 %

HIVE stock opened at $2.75 on Wednesday. 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 one year low of $2.18 and a one year high of $5.54. The firm’s fifty day moving average is $3.19 and its 200 day moving average is $3.37.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.05. HIVE Digital Technologies had a negative net margin of 12.04% and a negative return on equity of 10.78%. On average, sell-side analysts forecast that HIVE Digital Technologies will post -0.34 EPS for the current fiscal year.

Institutional Trading of HIVE Digital Technologies

Institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp grew its position in shares of HIVE Digital Technologies by 17.9% during the 4th quarter. Van ECK Associates Corp now owns 4,562,489 shares of the company’s stock valued at $13,003,000 after buying an additional 692,799 shares during the last quarter. State Street Corp grew its holdings in shares of HIVE Digital Technologies by 2.9% during the third quarter. State Street Corp now owns 3,214,101 shares of the company’s stock valued at $10,060,000 after purchasing an additional 91,056 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of HIVE Digital Technologies by 126.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 736,287 shares of the company’s stock worth $2,098,000 after purchasing an additional 411,071 shares during the period. Generali Investments CEE investicni spolecnost a.s. bought a new stake in shares of HIVE Digital Technologies in the 4th quarter worth approximately $2,058,000. Finally, Quantbot Technologies LP acquired a new position in HIVE Digital Technologies during the 4th quarter valued at approximately $854,000. 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.