Canaccord Genuity Maintains Buy on HIVE Digital, Raises Price Target to $10

Canaccord Genuity Maintains Buy on HIVE Digital, Raises Price Target to $10

In a significant move, Canaccord Genuity has maintained its buy rating on HIVE Digital Technologies (NASDAQ:HIVE) while raising the price target to $10. This decision comes amidst a flurry of analyst upgrades and price target adjustments for the cryptocurrency mining company.

HIVE Digital Technologies reported a quarterly loss of ($0.31) earnings per share, missing expectations, with a negative net margin of 48.65%. Despite this, the company has seen a shift in analyst sentiment, with Wall Street Zen upgrading its rating from a "strong sell" to a "hold" [1]. Other brokerages have also commented on HIVE, with Cantor Fitzgerald lifting their price target to $5.50 and giving the stock an "overweight" rating [1], while HC Wainwright decreased their price target to $6.00 with a "buy" rating [1]. Canaccord Genuity Group restated a "buy" rating and set a $9.00 target price [1], and Rosenblatt Securities cut their price target to $5.00 with a "buy" rating [1]. Zacks Research upgraded HIVE to a "hold" rating [1].

The consensus among analysts is currently a "Buy" rating, with an average price target of $6.67 [1]. Despite the recent earnings report, HIVE's stock has shown resilience, with a market capitalization of $509.13 million and a price-to-earnings ratio of -11.10. The company's debt-to-equity ratio of 0.03 and a current ratio of 3.72 indicate a strong balance sheet.

HIVE Digital Technologies operates as a cryptocurrency mining company in Canada, Sweden, and Iceland, engaging in the mining and sale of digital currencies, including Ethereum Classic, Bitcoin, and other coins. The company also operates data centers and offers infrastructure solutions.

Canaccord Genuity's decision to maintain a buy rating and raise the price target to $10 reflects a bullish outlook on HIVE's growth prospects, particularly in the cryptocurrency mining and AI sectors. The company's strategic expansion in Paraguay and focus on renewable energy and sustainable practices position it well for future growth.

References:
[1] https://www.marketbeat.com/instant-alerts/hive-digital-technologies-nasdaqhive-upgraded-by-wall-street-zen-to-hold-rating-2025-08-16/
[2] https://finance.yahoo.com/news/hive-digital-technologies-ltd-hive-010029345.html
[3] https://www.marketbeat.com/stocks/NASDAQ/HIVE/forecast/