Canaccord Genuity Group reaffirmed their buy rating on shares of HIVE Digital Technologies (NASDAQ:HIVE - Free Report) in a research note released on Thursday morning,Benzinga reports. Canaccord Genuity Group currently has a $9.00 price objective on the stock.
Other research analysts also recently issued reports about the stock. Rosenblatt Securities decreased their price target on shares of HIVE Digital Technologies from $5.50 to $5.00 and set a "buy" rating on the stock in a research report on Friday, June 27th. HC Wainwright reduced their price objective on shares of HIVE Digital Technologies from $9.00 to $6.00 and set a "buy" rating for the company in a research note on Friday, June 27th. Wall Street Zen raised shares of HIVE Digital Technologies to a "sell" rating in a research note on Saturday, May 17th. Finally, Cantor Fitzgerald increased their price objective on shares of HIVE Digital Technologies from $5.00 to $5.50 and gave the stock an "overweight" rating in a research note on Friday, June 27th. One investment analyst has rated the stock with a sell rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, HIVE Digital Technologies currently has an average rating of "Buy" and a consensus target price of $6.57.
Read Our Latest Research Report on HIVE
HIVE Digital Technologies Stock Performance
HIVE traded up $0.08 during trading on Thursday, hitting $2.33. The company's stock had a trading volume of 23,328,073 shares, compared to its average volume of 8,781,003. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 0.03. HIVE Digital Technologies has a one year low of $1.26 and a one year high of $5.54. The firm has a market cap of $463.12 million, a PE ratio of -6.46 and a beta of 3.40. The business's 50 day simple moving average is $1.89 and its 200-day simple moving average is $2.17.
HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last released its quarterly earnings results on Wednesday, June 25th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.20). HIVE Digital Technologies had a negative return on equity of 20.30% and a negative net margin of 48.65%. The business had revenue of $31.16 million during the quarter, compared to the consensus estimate of $31.47 million. As a group, sell-side analysts predict that HIVE Digital Technologies will post -0.32 EPS for the current fiscal year.
Hedge Funds Weigh In On HIVE Digital Technologies
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. boosted its position in shares of HIVE Digital Technologies by 328.2% during the first quarter. Goldman Sachs Group Inc. now owns 520,877 shares of the company's stock worth $755,000 after acquiring an additional 399,223 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of HIVE Digital Technologies by 18.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 878,457 shares of the company's stock worth $1,283,000 after acquiring an additional 137,651 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of HIVE Digital Technologies by 3,966.3% during the first quarter. Caitong International Asset Management Co. Ltd now owns 24,845 shares of the company's stock worth $36,000 after acquiring an additional 24,234 shares during the last quarter. Invesco Ltd. boosted its position in shares of HIVE Digital Technologies by 42.0% during the first quarter. Invesco Ltd. now owns 143,541 shares of the company's stock worth $208,000 after acquiring an additional 42,449 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of HIVE Digital Technologies by 11.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 69,309 shares of the company's stock worth $100,000 after acquiring an additional 6,958 shares during the last quarter. Institutional investors own 24.42% of the company's stock.
About HIVE Digital Technologies
(
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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.
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