Canaccord Genuity Group Reaffirms Buy Rating for HIVE Digital Technologies (NASDAQ:HIVE)

HIVE Digital Technologies (NASDAQ:HIVE)‘s stock had its “buy” rating reaffirmed by investment analysts at Canaccord Genuity Group in a research note issued on Tuesday,Benzinga reports. They presently have a $10.00 target price on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 225.73% from the company’s current price.

HIVE has been the subject of a number of other research reports. Weiss Ratings upgraded shares of HIVE Digital Technologies from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday. UBS Group set a $8.00 price objective on shares of HIVE Digital Technologies in a research note on Wednesday, June 3rd. B. Riley Financial upped their target price on shares of HIVE Digital Technologies from $5.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of HIVE Digital Technologies in a research note on Monday. Finally, Keefe, Bruyette & Woods raised their price target on HIVE Digital Technologies from $3.00 to $5.00 and gave the stock a “market perform” rating in a report on Friday, June 5th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, HIVE Digital Technologies currently has an average rating of “Moderate Buy” and an average target price of $6.95.

HIVE Digital Technologies Price Performance

Shares of NASDAQ HIVE opened at $3.07 on Tuesday. The stock has a market cap of $824.69 million, a P/E ratio of -2.38 and a beta of 3.79. HIVE Digital Technologies has a twelve month low of $1.73 and a twelve month high of $7.84. The stock has a 50 day moving average of $3.33 and a two-hundred day moving average of $2.86. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.10.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its earnings results on Friday, August 14th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.33). The business had revenue of $79.12 million for the quarter, compared to analysts’ expectations of $81.72 million. HIVE Digital Technologies had a negative return on equity of 29.90% and a negative net margin of 98.49%.During the same quarter last year, the business posted $0.18 earnings per share. On average, research analysts forecast that HIVE Digital Technologies will post -0.78 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Dave Perrill sold 175,000 shares of the firm’s stock in a transaction on Friday, June 19th. The shares were sold at an average price of $4.69, for a total value of $820,750.00. Following the completion of the sale, the director owned 162,500 shares in the company, valued at approximately $762,125. This trade represents a 51.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Luke Rossy sold 215,000 shares of HIVE Digital Technologies stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $3.97, for a total transaction of $853,550.00. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 681,700 shares of company stock worth $2,937,876.

Institutional Investors Weigh In On HIVE Digital Technologies

Institutional investors have recently made changes to their positions in the stock. SBI Securities Co. Ltd. boosted its stake in shares of HIVE Digital Technologies by 23.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 26,148 shares of the company’s stock worth $67,000 after acquiring an additional 4,964 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in HIVE Digital Technologies by 98.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 13,996 shares of the company’s stock worth $36,000 after purchasing an additional 6,956 shares in the last quarter. Captrust Financial Advisors raised its stake in HIVE Digital Technologies by 10.9% in the 4th quarter. Captrust Financial Advisors now owns 73,849 shares of the company’s stock valued at $191,000 after purchasing an additional 7,271 shares during the last quarter. Invesco Ltd. lifted its holdings in HIVE Digital Technologies by 6.4% in the 2nd quarter. Invesco Ltd. now owns 152,782 shares of the company’s stock valued at $275,000 after purchasing an additional 9,241 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in HIVE Digital Technologies by 1,885.8% in the 4th quarter. NewEdge Advisors LLC now owns 9,929 shares of the company’s stock valued at $26,000 after purchasing an additional 9,429 shares in the last quarter. 24.42% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting HIVE Digital Technologies

Here are the key news stories impacting HIVE Digital Technologies this week:

• Positive Sentiment: HIVE’s BUZZ High Performance Computing subsidiary signed a five-year, approximately $350 million GPU cloud services agreement with an investment-grade enterprise customer. The contract is expected to generate about $70 million in annualized revenue and lift BUZZ HPC’s total annualized revenue to approximately $180 million. HIVE will provide 2,016 Nvidia Blackwell Ultra GPUs. HIVE Digital Technologies inks five-year, $350M GPU cloud agreement
• Positive Sentiment: The company outlined a goal of reaching $200 million in GPU cloud annual recurring revenue, reinforcing its strategy of transitioning from a bitcoin-mining-focused business toward AI and high-performance computing. Sustainable-energy access and advanced cooling capabilities were cited as potential competitive advantages. Hive outlines $200M GPU cloud ARR target
• Positive Sentiment: Analyst support strengthened the bullish reaction. HC Wainwright reaffirmed a Buy rating and a $7 price target, while Chardan Capital reiterated Buy with a $7.50 target—both substantially above the recent trading level. HC Wainwright’s quarterly 2028 forecasts anticipate narrower losses of $0.05 to $0.07 per share.
• Neutral Sentiment: Options activity was unusually high, with investors purchasing 31,500 call options, 46% above typical call volume. This may signal increased speculative interest, but options activity alone does not establish a durable fundamental trend.
• Negative Sentiment: HIVE remains unprofitable: the latest reported quarter included a loss materially wider than analyst expectations, and analysts still forecast a full-year loss of approximately $0.78 per share. The GPU-cloud expansion will also require substantial capital and must be executed successfully to convert the contract into sustained earnings growth.

About HIVE Digital Technologies

HIVE Digital Technologies Ltd is a publicly traded blockchain infrastructure company that specializes in the mining of digital assets such as Bitcoin and Ethereum. Using high-performance GPU and ASIC hardware, HIVE deploys proprietary mining rigs across multiple data centers to validate transactions on major blockchain networks. The company’s operations are designed to maximize hashing power while maintaining efficiency and uptime, enabling it to build and hold a portfolio of mined cryptocurrencies.

Headquartered in Vancouver, British Columbia, HIVE Digital operates data center facilities in North America and Europe, including Canada, Sweden and Iceland.