Canaccord Genuity Group Forecasts Strong Price Appreciation for HIVE Digital Technologies (NASDAQ:HIVE) Stock

HIVE Digital Technologies (NASDAQ:HIVE) had its price target upped by investment analysts at Canaccord Genuity Group from $8.00 to $9.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 227.27% from the company’s current price.

A number of other equities analysts have also weighed in on the company. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price objective on shares of HIVE Digital Technologies in a research note on Wednesday, January 29th. Northland Securities raised their price objective on HIVE Digital Technologies from $5.50 to $7.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Roth Capital raised HIVE Digital Technologies to a “strong-buy” rating in a research note on Wednesday, December 18th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $9.00 price target on shares of HIVE Digital Technologies in a report on Tuesday, November 19th. Finally, Roth Mkm assumed coverage on HIVE Digital Technologies in a report on Thursday, December 19th. They issued a “buy” rating and a $7.50 price target on the stock. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, HIVE Digital Technologies currently has a consensus rating of “Buy” and an average price target of $7.75.

HIVE Digital Technologies Stock Up 1.1 %

Shares of NASDAQ HIVE traded up $0.03 during mid-day trading on Wednesday, hitting $2.75. 8,204,257 shares of the stock traded hands, compared to its average volume of 10,979,233. The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.56 and a current ratio of 5.56. The stock has a fifty day moving average price of $3.22 and a 200-day moving average price of $3.38. HIVE Digital Technologies has a 52 week low of $2.18 and a 52 week high of $5.54. The company has a market cap of $407.19 million, a price-to-earnings ratio of -19.64 and a beta of 3.46.

HIVE Digital Technologies (NASDAQ:HIVE) last posted 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 return on equity of 10.78% and a negative net margin of 12.04%. Research analysts anticipate that HIVE Digital Technologies will post -0.34 EPS for the current year.

Institutional Trading of HIVE Digital Technologies

Institutional investors have recently made changes to their positions in the business. Lifeworks Advisors LLC acquired a new stake in HIVE Digital Technologies during the 3rd quarter worth about $35,000. Gladstone Institutional Advisory LLC purchased a new position in shares of HIVE Digital Technologies during the 3rd quarter valued at about $44,000. Quadrature Capital Ltd purchased a new position in shares of HIVE Digital Technologies during the 3rd quarter valued at about $50,000. Franklin Resources Inc. purchased a new position in shares of HIVE Digital Technologies during the 4th quarter valued at about $53,000. Finally, Tobam raised its stake in shares of HIVE Digital Technologies by 198.6% during the 4th quarter. Tobam now owns 19,060 shares of the company’s stock valued at $54,000 after buying an additional 12,676 shares during the last quarter. Institutional investors and hedge funds 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.