Balyasny Asset Management L.P. Invests $133,000 in HIVE Digital Technologies Ltd. (NASDAQ:HIVE)

Balyasny Asset Management L.P. bought a new position in shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 46,701 shares of the company’s stock, valued at approximately $133,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of HIVE Digital Technologies during the 4th quarter valued at about $2,058,000. Van ECK Associates Corp boosted its stake in shares of HIVE Digital Technologies by 17.9% in the fourth quarter. Van ECK Associates Corp now owns 4,562,489 shares of the company’s stock worth $13,003,000 after buying an additional 692,799 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in HIVE Digital Technologies by 126.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 736,287 shares of the company’s stock worth $2,098,000 after acquiring an additional 411,071 shares during the period. Quantbot Technologies LP purchased a new position in HIVE Digital Technologies during the fourth quarter valued at approximately $854,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in HIVE Digital Technologies in the fourth quarter valued at approximately $811,000. 24.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on HIVE shares. Rosenblatt Securities began coverage on shares of HIVE Digital Technologies in a research note on Friday, March 7th. They set a “buy” rating and a $6.00 price objective on the stock. StockNews.com upgraded shares of HIVE Digital Technologies to a “sell” rating in a research report on Saturday. HC Wainwright reiterated a “buy” rating and issued a $10.00 price objective (up previously from $8.00) on shares of HIVE Digital Technologies in a research report on Thursday, February 13th. Canaccord Genuity Group reissued a “buy” rating and set a $9.00 target price on shares of HIVE Digital Technologies in a research note on Wednesday, March 26th. Finally, Cantor Fitzgerald dropped their target price on HIVE Digital Technologies from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 11th. 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $7.64.

HIVE Digital Technologies Stock Up 12.5%

HIVE stock opened at $2.07 on Monday. HIVE Digital Technologies Ltd. has a 52 week low of $1.26 and a 52 week high of $5.54. The company has a quick ratio of 10.41, a current ratio of 10.41 and a debt-to-equity ratio of 0.03. The firm has a 50-day simple moving average of $1.65 and a 200-day simple moving average of $2.70. The stock has a market capitalization of $366.56 million, a P/E ratio of -41.40 and a beta of 3.52.

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.