HIVE Digital Technologies (NASDAQ:HIVE) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

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

Other equities analysts have also issued research reports about the stock. Roth Mkm began coverage on shares of HIVE Digital Technologies in a research report on Thursday, December 19th. They issued a “buy” rating and a $7.50 target price for the company. Northland Securities increased their price objective on shares of HIVE Digital Technologies from $5.50 to $7.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Cantor Fitzgerald reissued an “overweight” rating and set a $9.00 target price on shares of HIVE Digital Technologies in a report on Tuesday, November 19th. Roth Capital upgraded HIVE Digital Technologies to a “strong-buy” rating in a research report on Wednesday, December 18th. Finally, StockNews.com upgraded HIVE Digital Technologies to a “sell” rating in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, HIVE Digital Technologies presently has an average rating of “Buy” and a consensus price target of $7.75.

HIVE Digital Technologies Price Performance

Shares of NASDAQ HIVE opened at $2.75 on Wednesday. HIVE Digital Technologies has a 12-month low of $2.18 and a 12-month high of $5.54. The company has a current ratio of 5.56, a quick ratio of 5.56 and a debt-to-equity ratio of 0.06. The stock has a 50 day simple moving average of $3.19 and a 200-day simple moving average of $3.37.

HIVE Digital Technologies (NASDAQ:HIVE) last announced 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 10.78% and a negative net margin of 12.04%. On average, equities analysts expect that HIVE Digital Technologies will post -0.34 earnings per share for the current year.

Institutional Investors Weigh In On HIVE Digital Technologies

A number of institutional investors and hedge funds have recently modified their holdings of HIVE. Lifeworks Advisors LLC grew its holdings in shares of HIVE Digital Technologies by 46.2% in the 4th quarter. Lifeworks Advisors LLC now owns 16,307 shares of the company’s stock worth $46,000 after acquiring an additional 5,152 shares during the last quarter. Impact Partnership Wealth LLC boosted its position in shares of HIVE Digital Technologies by 11.0% in the 4th quarter. Impact Partnership Wealth LLC now owns 53,231 shares of the company’s stock valued at $152,000 after purchasing an additional 5,277 shares during the period. Wells Fargo & Company MN increased its stake in HIVE Digital Technologies by 60.9% in the 4th quarter. Wells Fargo & Company MN now owns 15,320 shares of the company’s stock worth $44,000 after purchasing an additional 5,800 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in HIVE Digital Technologies by 15.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,351 shares of the company’s stock worth $178,000 after buying an additional 8,158 shares during the period. Finally, Plancorp LLC raised its holdings in HIVE Digital Technologies by 90.5% during the 4th quarter. Plancorp LLC now owns 20,000 shares of the company’s stock worth $57,000 after buying an additional 9,500 shares during the period. 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.