Arrowstreet Capital Limited Partnership Purchases New Position in HIVE Digital Technologies Ltd. (NASDAQ:HIVE)

Arrowstreet Capital Limited Partnership acquired a new position in shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 284,389 shares of the company’s stock, valued at approximately $811,000.

Other hedge funds also recently made changes to their positions in the company. Lifeworks Advisors LLC grew its stake in HIVE Digital Technologies by 46.2% during the 4th quarter. Lifeworks Advisors LLC now owns 16,307 shares of the company’s stock worth $46,000 after buying an additional 5,152 shares during the last quarter. Tobam grew its position in shares of HIVE Digital Technologies by 198.6% during the fourth quarter. Tobam now owns 19,060 shares of the company’s stock worth $54,000 after acquiring an additional 12,676 shares during the last quarter. LPL Financial LLC acquired a new position in shares of HIVE Digital Technologies in the 4th quarter valued at $54,000. Plancorp LLC raised its position in HIVE Digital Technologies by 90.5% in the 4th quarter. Plancorp LLC now owns 20,000 shares of the company’s stock valued at $57,000 after purchasing an additional 9,500 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in HIVE Digital Technologies during the 4th quarter worth $70,000. Hedge funds and other institutional investors own 24.42% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on HIVE. StockNews.com upgraded shares of HIVE Digital Technologies to a “sell” rating in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods started coverage on HIVE Digital Technologies in a research report on Wednesday, January 8th. They issued an “outperform” rating on the stock. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective (up from $8.00) on shares of HIVE Digital Technologies in a research report on Thursday, February 13th. Roth Mkm began coverage on HIVE Digital Technologies in a research note on Thursday, December 19th. They issued a “buy” rating and a $7.50 target price on the stock. Finally, Roth Capital upgraded HIVE Digital Technologies to a “strong-buy” rating in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, HIVE Digital Technologies currently has a consensus rating of “Buy” and an average target price of $7.64.

HIVE Digital Technologies Trading Up 3.5 %

NASDAQ:HIVE opened at $1.48 on Friday. HIVE Digital Technologies Ltd. has a 1 year low of $1.26 and a 1 year high of $5.54. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.41 and a current ratio of 10.41. The stock has a fifty day moving average price of $1.99 and a two-hundred day moving average price of $3.00. The stock has a market capitalization of $245.11 million, a price-to-earnings ratio of -29.60 and a beta of 3.55.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.05. HIVE Digital Technologies had a negative net margin of 5.45% and a negative return on equity of 8.95%. As a group, sell-side analysts anticipate that HIVE Digital Technologies Ltd. will post -0.32 earnings per share for the current fiscal year.

About HIVE Digital Technologies

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.