HIVE Digital Technologies (NASDAQ:HIVE) Receives “Buy” Rating from Canaccord Genuity Group

HIVE Digital Technologies (NASDAQ:HIVE)‘s stock had its “buy” rating reaffirmed by equities research analysts at Canaccord Genuity Group in a note issued to investors on Wednesday, Benzinga reports. They currently have a $6.00 target price on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 84.62% from the company’s current price.

Other research analysts have also issued research reports about the company. StockNews.com raised HIVE Digital Technologies to a “sell” rating in a research report on Sunday, June 9th. HC Wainwright reaffirmed a “neutral” rating and set a $3.50 price objective on shares of HIVE Digital Technologies in a research report on Wednesday.

HIVE Digital Technologies Stock Up 8.7 %

HIVE stock traded up $0.26 on Wednesday, reaching $3.25. 6,847,773 shares of the company traded hands, compared to its average volume of 3,102,697. HIVE Digital Technologies has a one year low of $2.18 and a one year high of $6.84. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.51 and a quick ratio of 3.51. The company has a market cap of $380.51 million, a P/E ratio of -5.51 and a beta of 3.48. The firm has a fifty day simple moving average of $2.73 and a 200-day simple moving average of $3.32.

Institutional Trading of HIVE Digital Technologies

A number of institutional investors and hedge funds have recently modified their holdings of HIVE. MMCAP International Inc. SPC bought a new stake in shares of HIVE Digital Technologies in the first quarter worth $11,227,000. Invesco Ltd. grew its holdings in shares of HIVE Digital Technologies by 2.8% in the third quarter. Invesco Ltd. now owns 2,918,364 shares of the company’s stock worth $8,989,000 after acquiring an additional 80,788 shares during the period. Van ECK Associates Corp grew its holdings in shares of HIVE Digital Technologies by 56.0% in the first quarter. Van ECK Associates Corp now owns 2,876,374 shares of the company’s stock worth $9,693,000 after acquiring an additional 1,032,672 shares during the period. Vident Advisory LLC grew its holdings in shares of HIVE Digital Technologies by 78.6% in the first quarter. Vident Advisory LLC now owns 1,737,308 shares of the company’s stock worth $5,856,000 after acquiring an additional 764,387 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of HIVE Digital Technologies by 6.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 914,308 shares of the company’s stock worth $4,133,000 after acquiring an additional 54,615 shares during the period. 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.