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 - Free Report) in a research report report published on Thursday morning, Benzinga reports. The firm currently has a $6.00 price objective on the stock.

HIVE has been the subject of several other reports. HC Wainwright restated a neutral rating and set a $3.50 price objective on shares of HIVE Digital Technologies in a research report on Wednesday, February 14th. StockNews.com upgraded shares of HIVE Digital Technologies to a sell rating in a research report on Monday, March 18th.

HIVE Digital Technologies Price Performance

Shares of NASDAQ HIVE traded up $0.13 during mid-day trading on Thursday, reaching $3.37. The company's stock had a trading volume of 4,449,106 shares, compared to its average volume of 3,269,029. The stock has a 50-day moving average of $3.48 and a two-hundred day moving average of $3.47. The stock has a market capitalization of $355.37 million, a P/E ratio of -5.27 and a beta of 3.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.51 and a current ratio of 3.51. HIVE Digital Technologies has a 1-year low of $2.75 and a 1-year high of $6.84.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last issued its earnings results on Tuesday, February 13th. The company reported ($0.08) EPS for the quarter, beating analysts' consensus estimates of ($0.23) by $0.15. The business had revenue of $31.25 million during the quarter, compared to analysts' expectations of $27.20 million. HIVE Digital Technologies had a negative net margin of 57.15% and a negative return on equity of 34.90%. On average, equities research analysts anticipate that HIVE Digital Technologies will post -0.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of HIVE. State Street Corp purchased a new position in HIVE Digital Technologies during the second quarter worth about $1,007,000. UBS Group AG boosted its stake in shares of HIVE Digital Technologies by 174.5% in the third quarter. UBS Group AG now owns 17,829 shares of the company's stock valued at $67,000 after purchasing an additional 11,333 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of HIVE Digital Technologies by 154.6% in the third quarter. Tower Research Capital LLC TRC now owns 15,072 shares of the company's stock valued at $56,000 after purchasing an additional 9,153 shares during the period. BlackRock Inc. boosted its stake in shares of HIVE Digital Technologies by 25.9% in the third quarter. BlackRock Inc. now owns 82,303 shares of the company's stock valued at $310,000 after purchasing an additional 16,951 shares during the period. Finally, Almanack Investment Partners LLC. purchased a new position in shares of HIVE Digital Technologies in the third quarter valued at approximately $44,000. Hedge funds and other institutional investors own 24.42% of the company's stock.

HIVE Digital Technologies Company Profile

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.