Short Interest in HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Increases By 38.5%

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) was the target of a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 9,670,000 shares, a growth of 38.5% from the February 13th total of 6,980,000 shares. Based on an average daily trading volume, of 10,220,000 shares, the short-interest ratio is presently 0.9 days. Approximately 6.3% of the company’s shares are sold short.

Hedge Funds Weigh In On HIVE Digital Technologies

Hedge funds have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in HIVE Digital Technologies during the 4th quarter valued at $26,000. Lifeworks Advisors LLC acquired a new stake in HIVE Digital Technologies during the 3rd quarter valued at $35,000. Wells Fargo & Company MN grew its holdings in HIVE Digital Technologies by 60.9% during the 4th quarter. Wells Fargo & Company MN now owns 15,320 shares of the company’s stock valued at $44,000 after purchasing an additional 5,800 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in HIVE Digital Technologies during the 3rd quarter valued at $50,000. Finally, Franklin Resources Inc. acquired a new stake in HIVE Digital Technologies during the 4th quarter valued at $53,000. Hedge funds and other institutional investors own 24.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Rosenblatt Securities assumed 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. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price target (up previously from $8.00) on shares of HIVE Digital Technologies in a research note on Thursday, February 13th. Cantor Fitzgerald cut their price target on shares of HIVE Digital Technologies from $10.00 to $8.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 11th. Roth Capital raised shares of HIVE Digital Technologies to a “strong-buy” rating in a research note on Wednesday, December 18th. Finally, StockNews.com raised shares of HIVE Digital Technologies to a “sell” rating in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $7.64.

HIVE Digital Technologies Trading Up 0.6 %

Shares of HIVE stock traded up $0.01 during mid-day trading on Monday, reaching $1.75. The company’s stock had a trading volume of 7,510,764 shares, compared to its average volume of 5,502,416. The company’s 50 day simple moving average is $2.64 and its 200-day simple moving average is $3.23. HIVE Digital Technologies has a 12-month low of $1.66 and a 12-month 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 market capitalization of $276.66 million, a PE ratio of -35.00 and a beta of 3.51.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its earnings results on Tuesday, February 11th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates 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%. On average, research analysts predict that HIVE Digital Technologies will post -0.32 EPS 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.