HIVE Digital Technologies' (HIVE) "Buy" Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of HIVE Digital Technologies (NASDAQ:HIVE - Free Report) in a report published on Thursday,Benzinga reports. Canaccord Genuity Group currently has a $9.00 price target on the stock.

A number of other brokerages also recently issued reports on HIVE. HC Wainwright decreased their price target 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. Rosenblatt Securities reduced their price objective on shares of HIVE Digital Technologies from $5.50 to $5.00 and set a "buy" rating on the stock in a report on Friday, June 27th. Cantor Fitzgerald increased their target price on HIVE Digital Technologies from $5.00 to $5.50 and gave the company an "overweight" rating in a report on Friday, June 27th. Finally, Wall Street Zen raised HIVE Digital Technologies to a "sell" rating in a report on Saturday, May 17th. One investment analyst has rated the stock with a sell rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $6.57.

HIVE Digital Technologies Trading Up 3.3%

Shares of NASDAQ HIVE traded up $0.08 during mid-day trading on Thursday, hitting $2.33. The company had a trading volume of 23,328,073 shares, compared to its average volume of 8,774,763. The business's 50-day simple moving average is $1.87 and its 200 day simple moving average is $2.20. HIVE Digital Technologies has a 1-year low of $1.26 and a 1-year high of $5.54. 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 (NASDAQ:HIVE - Get Free Report) last posted its quarterly earnings results on Wednesday, June 25th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.20). HIVE Digital Technologies had a negative net margin of 48.65% and a negative return on equity of 20.30%. The company had revenue of $31.16 million during the quarter, compared to analyst estimates of $31.47 million. Equities analysts anticipate that HIVE Digital Technologies will post -0.32 EPS for the current year.

Hedge Funds Weigh In On HIVE Digital Technologies

Several hedge funds have recently made changes to their positions in HIVE. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of HIVE Digital Technologies in the 4th quarter valued at about $26,000. Y Intercept Hong Kong Ltd acquired a new position in HIVE Digital Technologies during the first quarter worth approximately $31,000. Zhang Financial LLC acquired a new position in HIVE Digital Technologies during the first quarter worth approximately $33,000. Caitong International Asset Management Co. Ltd increased its position in 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 buying an additional 24,234 shares during the period. Finally, Wells Fargo & Company MN increased its position in HIVE Digital Technologies by 60.9% during the fourth quarter. Wells Fargo & Company MN now owns 15,320 shares of the company's stock worth $44,000 after buying an additional 5,800 shares during the period. Hedge funds and other institutional investors 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.