HIVE Digital Technologies’ (HIVE) Buy Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of HIVE Digital Technologies (NASDAQ:HIVE) in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a $9.00 price objective on the stock.

Several other equities research analysts have also recently commented on HIVE. Roth Capital upgraded HIVE Digital Technologies to a “strong-buy” rating in a research note on Wednesday, December 18th. StockNews.com upgraded shares of HIVE Digital Technologies to a “sell” rating in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods assumed coverage on shares of HIVE Digital Technologies in a report on Wednesday, January 8th. They issued an “outperform” rating on the stock. Roth Mkm assumed coverage on shares of HIVE Digital Technologies in a research note on Thursday, December 19th. They set a “buy” rating and a $7.50 price target on the stock. Finally, Rosenblatt Securities began coverage on HIVE Digital Technologies in a report on Friday, March 7th. They issued a “buy” rating and a $6.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, HIVE Digital Technologies has a consensus rating of “Buy” and a consensus price target of $7.64.

HIVE Digital Technologies Trading Down 6.8 %

Shares of HIVE Digital Technologies stock opened at $1.50 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.41 and a current ratio of 10.41. The company has a market capitalization of $237.14 million, a P/E ratio of -30.00 and a beta of 3.51. HIVE Digital Technologies has a 1 year low of $1.48 and a 1 year high of $5.54. The company’s fifty day moving average is $2.36 and its two-hundred day moving average is $3.14.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.05. HIVE Digital Technologies had a negative return on equity of 8.95% and a negative net margin of 5.45%. Analysts forecast that HIVE Digital Technologies will post -0.32 earnings per share for the current year.

Institutional Investors Weigh In On HIVE Digital Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of HIVE. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of HIVE Digital Technologies in the 4th quarter worth approximately $26,000. Wells Fargo & Company MN grew its holdings in HIVE Digital Technologies by 60.9% in the fourth quarter. Wells Fargo & Company MN now owns 15,320 shares of the company’s stock valued at $44,000 after purchasing an additional 5,800 shares during the last quarter. Lifeworks Advisors LLC grew its holdings in HIVE Digital Technologies by 46.2% in the fourth quarter. Lifeworks Advisors LLC now owns 16,307 shares of the company’s stock valued at $46,000 after purchasing an additional 5,152 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of HIVE Digital Technologies in the third quarter valued at $50,000. Finally, Franklin Resources Inc. acquired a new position in shares of HIVE Digital Technologies during the 4th quarter worth $53,000. 24.42% of the stock is currently owned by institutional investors and hedge funds.

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.