HIVE Digital Technologies (NASDAQ:HIVE) Given Buy Rating at Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of HIVE Digital Technologies (NASDAQ:HIVE) in a research report sent to investors on Friday,Benzinga reports. They currently have a $10.00 target price on the stock.

Several other research firms have also recently issued reports on HIVE. Rosenblatt Securities reiterated a “buy” rating and issued a $10.00 price objective on shares of HIVE Digital Technologies in a report on Tuesday. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of HIVE Digital Technologies in a research note on Friday, October 31st. Roth Capital upped their price objective on HIVE Digital Technologies from $6.00 to $7.50 and gave the company a “buy” rating in a report on Tuesday, August 26th. Northland Securities set a $7.50 target price on HIVE Digital Technologies in a research note on Tuesday, October 7th. Finally, Zacks Research raised HIVE Digital Technologies to a “hold” rating in a report on Friday, August 8th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $8.13.

HIVE Digital Technologies Stock Performance

Shares of NASDAQ:HIVE traded down $0.03 on Friday, hitting $2.89. The company’s stock had a trading volume of 20,720,298 shares, compared to its average volume of 21,880,540. The company has a market capitalization of $686.98 million, a price-to-earnings ratio of -13.76 and a beta of 3.54. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.42 and a current ratio of 2.55. HIVE Digital Technologies has a 12 month low of $1.26 and a 12 month high of $7.84. The stock’s 50-day moving average is $4.77 and its two-hundred day moving average is $3.09.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its earnings results on Friday, November 14th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The company had revenue of $83.37 million during the quarter, compared to the consensus estimate of $80.62 million. HIVE Digital Technologies had a negative net margin of 16.18% and a negative return on equity of 14.15%. On average, equities research analysts forecast that HIVE Digital Technologies will post -0.32 EPS for the current year.

Hedge Funds Weigh In On HIVE Digital Technologies

A number of hedge funds have recently modified their holdings of HIVE. Sender Co & Partners Inc. purchased a new stake in HIVE Digital Technologies during the third quarter valued at about $70,000. XTX Topco Ltd increased its position in shares of HIVE Digital Technologies by 37.6% in the third quarter. XTX Topco Ltd now owns 165,834 shares of the company’s stock worth $668,000 after acquiring an additional 45,307 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of HIVE Digital Technologies by 15.4% during the third quarter. Tidal Investments LLC now owns 4,771,312 shares of the company’s stock valued at $19,228,000 after acquiring an additional 637,679 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in shares of HIVE Digital Technologies in the 3rd quarter valued at approximately $239,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in HIVE Digital Technologies by 55.0% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,780,876 shares of the company’s stock worth $11,212,000 after purchasing an additional 987,314 shares during the period. 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.