HIVE Blockchain Technologies (NASDAQ:HIVE) Receives Buy Rating from Canaccord Genuity Group

by Arthur · March 22, 2023

HIVE Blockchain Technologies (NASDAQ:HIVE – Get Rating)The stock’s “buy” rating was reaffirmed by Canaccord Genuity Group in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $7.00 price target on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 112.77% from the company’s previous close.

→ Urgent warning (From Weiss Ratings)

Separately, HC Wainwright reaffirmed a “buy” rating and set a $5.00 price objective on shares of HIVE Blockchain Technologies in a research note on Wednesday, February 22nd.

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HIVE Blockchain Technologies Stocks Up 9.7%

Shares in HIVE opened at $3.29 on Wednesday. The company has a gearing ratio of 0.19, a quick ratio of 2.86 and a gearing ratio of 2.86. HIVE Blockchain Technologies has a one year low of $1.36 and a one year high of $11.70. The stock has a market cap of $275.60 million, a price-to-earnings ratio of -1.08 and a beta of 3.57. The stock has a 50 day moving average price of $3.09 and a 200 day moving average price of $2.88.

Hedge funds weigh in on HIVE Blockchain technologies

Several hedge funds and other institutional investors have recently bought and sold shares in HIVE. Toroso Investments LLC lifted its position in HIVE Blockchain Technologies by 8,288.1% during the 4th quarter. Toroso Investments LLC now owns 2,121,433 shares of the company’s stock worth $3,055,000 after buying an additional 2,096,142 shares in the last quarter. Millennium Management LLC lifted its position in HIVE Blockchain Technologies by 385.4% during the 4th quarter. Millennium Management LLC now owns 578,099 shares of the company’s stock worth $833,000 after buying an additional 458,999 shares in the last quarter. State Street Corp purchased a new position in HIVE Blockchain Technologies during the 2nd quarter worth approximately $1,007,000. Van ECK Associates Corp lifted its position in HIVE Blockchain Technologies by 49.3% during the 4th quarter. Van ECK Associates Corp now owns 857,157 shares of the company’s stock worth $1,235,000 after buying an additional 283,127 shares in the last quarter. Finally, Morgan Stanley lifted its position in HIVE Blockchain Technologies by 49.9% during the 4th quarter. Morgan Stanley now owns 360,304 shares of the company’s stock worth $519,000 after buying an additional 119,908 shares in the last quarter. 12.55% of the share is owned by institutional investors and hedge funds.

About HIVE Blockchain Technologies

(Get rating)

HIVE Blockchain Technologies Ltd. operates as a cryptocurrency mining company in Canada, Sweden and Iceland. It mines and sells digital currencies, including Ethereum, Ethereum Classic, and Bitcoin. The company was formerly known as Leeta Gold Corp. and changed its name to HIVE Blockchain Technologies Ltd.

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