HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Sees Significant Growth in Short Interest

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totalling 3,960,000 shares, an increase of 13.1% from the December 15th total of 3,500,000 shares. Approximately 3.1% of the company’s stock are sold short. Based on an average trading volume of 7,250,000 shares, the short-interest ratio is presently 0.5 days.

Analyst Ratings Changes

Several research analysts recently commented on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $9.00 target price on shares of HIVE Digital Technologies in a research note on Tuesday, November 19th. Canaccord Genuity Group boosted their price objective on HIVE Digital Technologies from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Keefe, Bruyette & Woods started coverage on shares of HIVE Digital Technologies in a report on Wednesday, January 8th. They issued an “outperform” rating on the stock. Roth Capital upgraded shares of HIVE Digital Technologies to a “strong-buy” rating in a report on Wednesday, December 18th. Finally, HC Wainwright restated a “buy” rating and issued a $8.00 price objective on shares of HIVE Digital Technologies in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $7.42.

HIVE Digital Technologies Trading Up 1.6 %

NASDAQ HIVE opened at $3.20 on Monday. The firm’s fifty day moving average price is $3.68 and its 200 day moving average price is $3.47. HIVE Digital Technologies has a 12 month low of $2.18 and a 12 month high of $5.54. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.56 and a quick ratio of 5.56. The company has a market capitalization of $452.61 million, a price-to-earnings ratio of -22.86 and a beta of 3.46.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.03. HIVE Digital Technologies had a negative return on equity of 10.78% and a negative net margin of 12.04%. The company had revenue of $22.65 million for the quarter, compared to analyst estimates of $25.32 million. During the same quarter last year, the company posted ($0.29) earnings per share. On average, sell-side analysts expect that HIVE Digital Technologies will post -0.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On HIVE Digital Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC increased its stake in HIVE Digital Technologies by 527.9% in the third quarter. Virtu Financial LLC now owns 71,990 shares of the company’s stock valued at $225,000 after purchasing an additional 60,524 shares during the period. Toronto Dominion Bank increased its position in HIVE Digital Technologies by 86,334.5% in the 3rd quarter. Toronto Dominion Bank now owns 50,132 shares of the company’s stock valued at $157,000 after acquiring an additional 50,074 shares during the period. XTX Topco Ltd purchased a new stake in HIVE Digital Technologies during the 3rd quarter valued at approximately $463,000. Wellington Management Group LLP acquired a new stake in HIVE Digital Technologies during the 3rd quarter worth approximately $120,000. Finally, State Street Corp grew its stake in shares of HIVE Digital Technologies by 2.9% in the 3rd quarter. State Street Corp now owns 3,214,101 shares of the company’s stock valued at $10,060,000 after purchasing an additional 91,056 shares during the last quarter. Hedge funds and other 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.