Canaccord Genuity Group Reaffirms Buy Rating for HIVE Digital Technologies (NASDAQ:HIVE)

Key Points

• Canaccord Genuity reaffirmed a Buy rating on HIVE Digital Technologies with a $10 price target, implying substantial upside; the broader analyst consensus is Moderate Buy with an average target of $6.95.
• HIVE is expanding beyond bitcoin mining into AI and high-performance computing, highlighted by a five-year, approximately $350 million GPU cloud agreement expected to generate about $70 million in annualized revenue.
• The company remains unprofitable: its latest quarterly loss of $0.54 per share exceeded analyst expectations, revenue came in below estimates, and analysts forecast a full-year loss of approximately $0.78 per share.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at Canaccord Genuity Group in a research report issued on Tuesday,Benzinga reports. They currently have a $10.00 price objective on the stock. Canaccord Genuity Group's price target suggests a potential upside of 225.73% from the stock's current price.

A number of other research analysts have also issued reports on HIVE. Weiss Ratings upgraded HIVE Digital Technologies from a "sell (d-)" rating to a "sell (d)" rating in a report on Friday. UBS Group set a $8.00 price target on HIVE Digital Technologies in a research report on Wednesday, June 3rd. Chardan Capital reiterated a "buy" rating and issued a $7.50 price objective on shares of HIVE Digital Technologies in a research note on Monday. Wall Street Zen lowered shares of HIVE Digital Technologies from a "sell" rating to a "strong sell" rating in a research note on Sunday, July 12th. Finally, B. Riley Financial raised their target price on shares of HIVE Digital Technologies from $5.00 to $8.00 and gave the company a "buy" rating in a report on Wednesday, June 3rd. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $6.95.

HIVE Digital Technologies Stock Up 14.1%

Shares of NASDAQ:HIVE opened at $3.07 on Tuesday. The firm has a market capitalization of $824.69 million, a PE ratio of -2.38 and a beta of 3.79. HIVE Digital Technologies has a 1 year low of $1.73 and a 1 year high of $7.84. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.10 and a quick ratio of 1.10. The firm's 50-day moving average is $3.33 and its two-hundred day moving average is $2.86.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last posted its quarterly earnings data on Friday, August 14th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.33). HIVE Digital Technologies had a negative net margin of 98.49% and a negative return on equity of 29.90%. The business had revenue of $79.12 million during the quarter, compared to analysts' expectations of $81.72 million. During the same period in the previous year, the business posted $0.18 EPS. Analysts predict that HIVE Digital Technologies will post -0.78 EPS for the current year.

Insiders Place Their Bets

In other news, COO Luke Rossy sold 215,000 shares of the firm's stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $3.97, for a total transaction of $853,550.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Susan B. Mcgee sold 125,000 shares of the business's stock in a transaction that occurred on Friday, June 19th. The stock was sold at an average price of $4.25, for a total value of $531,250.00. Following the sale, the director owned 125,000 shares of the company's stock, valued at approximately $531,250. The trade was a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 681,700 shares of company stock valued at $2,937,876 in the last ninety days.

Institutional Trading of HIVE Digital Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC lifted its position in shares of HIVE Digital Technologies by 1,885.8% during the 4th quarter. NewEdge Advisors LLC now owns 9,929 shares of the company's stock worth $26,000 after buying an additional 9,429 shares during the last quarter. Private Advisor Group LLC purchased a new position in shares of HIVE Digital Technologies in the 1st quarter valued at $27,000. Ground Swell Capital LLC acquired a new stake in HIVE Digital Technologies during the 4th quarter worth $27,000. Rafferty Asset Management LLC acquired a new stake in HIVE Digital Technologies during the 4th quarter worth $28,000. Finally, State of Wyoming purchased a new stake in HIVE Digital Technologies in the fourth quarter valued at $28,000. Institutional investors and hedge funds own 24.42% of the company's stock.

HIVE Digital Technologies News Roundup

Here are the key news stories impacting HIVE Digital Technologies this week:

• Positive Sentiment: HIVE’s BUZZ High Performance Computing subsidiary signed a five-year, approximately $350 million GPU cloud services agreement with an investment-grade enterprise customer. The contract is expected to generate about $70 million in annualized revenue and lift BUZZ HPC’s total annualized revenue to approximately $180 million. HIVE will provide 2,016 Nvidia Blackwell Ultra GPUs. HIVE Digital Technologies inks five-year, $350M GPU cloud agreement
• Positive Sentiment: The company outlined a goal of reaching $200 million in GPU cloud annual recurring revenue, reinforcing its strategy of transitioning from a bitcoin-mining-focused business toward AI and high-performance computing. Sustainable-energy access and advanced cooling capabilities were cited as potential competitive advantages. Hive outlines $200M GPU cloud ARR target
• Positive Sentiment: Analyst support strengthened the bullish reaction. HC Wainwright reaffirmed a Buy rating and a $7 price target, while Chardan Capital reiterated Buy with a $7.50 target—both substantially above the recent trading level. HC Wainwright’s quarterly 2028 forecasts anticipate narrower losses of $0.05 to $0.07 per share.
• Neutral Sentiment: Options activity was unusually high, with investors purchasing 31,500 call options, 46% above typical call volume. This may signal increased speculative interest, but options activity alone does not establish a durable fundamental trend.
• Negative Sentiment: HIVE remains unprofitable: the latest reported quarter included a loss materially wider than analyst expectations, and analysts still forecast a full-year loss of approximately $0.78 per share. The GPU-cloud expansion will also require substantial capital and must be executed successfully to convert the contract into sustained earnings growth.

About HIVE Digital Technologies

HIVE Digital Technologies Ltd is a publicly traded blockchain infrastructure company that specializes in the mining of digital assets such as Bitcoin and Ethereum. Using high-performance GPU and ASIC hardware, HIVE deploys proprietary mining rigs across multiple data centers to validate transactions on major blockchain networks. The company’s operations are designed to maximize hashing power while maintaining efficiency and uptime, enabling it to build and hold a portfolio of mined cryptocurrencies.

Headquartered in Vancouver, British Columbia, HIVE Digital operates data center facilities in North America and Europe, including Canada, Sweden and Iceland.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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