💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Here's Why Canaccord Is Bullish On This Cryptocurrency Mining Company

Published 25/03/2022, 13:46
© Reuters.  Here's Why Canaccord Is Bullish On This Cryptocurrency Mining Company

  • Canaccord Genuity analyst Joseph Vafi initiated coverage of HIVE Blockchain Technologies Ltd (NASDAQ: HIVE) with a Buy rating and a $2.80 price target, suggesting an upside of 27%.
  • Digital assets, especially Bitcoin and Ethereum, successfully exited another test of their resiliency in the face of recent market volatility.
  • Vafi expects miners to benefit if bitcoin prices retrace higher.
  • In February, HIVE reported third-quarter results, with revenue from digital currency mining of $68.2 million, increasing 397% Y/Y.
  • Price Action: HIVE shares traded higher by 1.38% at $2.20 on the last check Friday.

Latest Ratings for HIVE

DateFirmActionFromTo
Jun 2021HC Wainwright & Co.Initiates Coverage OnBuy
Jun 2019Craig-HallumDowngradesBuyHold
May 2017Wunderlich SecuritiesUpgradesHoldBuy
View More Analyst Ratings for HIVE

View the Latest Analyst Ratings

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.