HIVE Digital Technologies (NASDAQ:HIVE) Price Target Raised to $9.00

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

Several other research firms also recently commented on HIVE. Roth Capital raised HIVE Digital Technologies to a “strong-buy” rating in a research note on Wednesday, December 18th. StockNews.com raised HIVE Digital Technologies to a “sell” rating in a research note on Tuesday, January 14th. Roth Mkm initiated coverage on HIVE Digital Technologies in a research note on Thursday, December 19th. They set a “buy” rating and a $7.50 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating and set a $9.00 target price on shares of HIVE Digital Technologies in a research note on Tuesday, November 19th. Finally, Northland Securities increased their target price on HIVE Digital Technologies from $5.50 to $7.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $8.08.

HIVE Digital Technologies Stock Down 0.3 %

Shares of NASDAQ HIVE opened at $2.85 on Wednesday. The business has a 50-day moving average price of $3.14 and a 200 day moving average price of $3.36. The company has a quick ratio of 5.56, a current ratio of 5.56 and a debt-to-equity ratio of 0.06. The stock has a market cap of $422.00 million, a PE ratio of -20.36 and a beta of 3.46. HIVE Digital Technologies has a 52-week low of $2.18 and a 52-week high of $5.54.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate 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%. Equities research analysts forecast 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 the company. Oxford Asset Management LLP acquired a new stake in shares of HIVE Digital Technologies in the 4th quarter worth approximately $201,000. Stifel Financial Corp acquired a new stake in shares of HIVE Digital Technologies in the 4th quarter worth approximately $223,000. XTX Topco Ltd grew its holdings in shares of HIVE Digital Technologies by 126.8% in the 4th quarter. XTX Topco Ltd now owns 335,499 shares of the company’s stock worth $956,000 after acquiring an additional 187,576 shares during the period. Phoenix Financial Ltd. grew its holdings in HIVE Digital Technologies by 89.8% during the 4th quarter. Phoenix Financial Ltd. now owns 115,200 shares of the company’s stock valued at $328,000 after buying an additional 54,500 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in HIVE Digital Technologies by 12.8% during the 4th quarter. Invesco Ltd. now owns 101,092 shares of the company’s stock valued at $288,000 after buying an additional 11,458 shares during the last quarter. 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.