HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Short Interest Update

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) saw a significant growth in short interest in February. As of February 15th, there was short interest totalling 6,980,000 shares, a growth of 29.5% from the January 31st total of 5,390,000 shares. Approximately 4.5% of the company’s stock are short sold. Based on an average daily volume of 9,710,000 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Investors Weigh In On HIVE Digital Technologies

Several large investors have recently added to or reduced their stakes in HIVE. Van ECK Associates Corp boosted its position in HIVE Digital Technologies by 17.9% during the fourth quarter. Van ECK Associates Corp now owns 4,562,489 shares of the company’s stock worth $13,003,000 after purchasing an additional 692,799 shares during the period. Tidal Investments LLC lifted its stake in shares of HIVE Digital Technologies by 5.0% during the 4th quarter. Tidal Investments LLC now owns 4,210,339 shares of the company’s stock valued at $11,999,000 after buying an additional 200,024 shares in the last quarter. State Street Corp boosted its holdings in HIVE Digital Technologies by 2.9% in the 3rd quarter. State Street Corp now owns 3,214,101 shares of the company’s stock worth $10,060,000 after buying an additional 91,056 shares during the period. Vident Advisory LLC grew its stake in HIVE Digital Technologies by 26.1% in the 4th quarter. Vident Advisory LLC now owns 2,831,492 shares of the company’s stock valued at $8,072,000 after buying an additional 585,511 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in HIVE Digital Technologies by 332.8% during the 4th quarter. Cubist Systematic Strategies LLC now owns 962,677 shares of the company’s stock valued at $2,744,000 after acquiring an additional 740,247 shares during the period. Hedge funds and other institutional investors own 24.42% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Canaccord Genuity Group increased their price target on HIVE Digital Technologies from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Roth Capital raised shares of HIVE Digital Technologies to a “strong-buy” rating in a research report on Wednesday, December 18th. StockNews.com raised shares of HIVE Digital Technologies to a “sell” rating in a research report on Tuesday, January 14th. 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, Northland Securities increased their price target on HIVE Digital Technologies from $5.50 to $7.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $8.08.

HIVE Digital Technologies Stock Performance

Shares of HIVE stock remained flat at $1.90 during trading hours on Tuesday. 12,812,996 shares of the stock traded hands, compared to its average volume of 10,778,880. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.41 and a quick ratio of 10.41. The firm has a market cap of $297.56 million, a PE ratio of -38.00 and a beta of 3.46. The company’s 50-day moving average price is $2.84 and its two-hundred day moving average price is $3.31. HIVE Digital Technologies has a 12 month low of $1.78 and a 12 month high of $5.54.

HIVE Digital Technologies (NASDAQ:HIVE) last released its earnings results on Tuesday, February 11th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.05. HIVE Digital Technologies had a negative return on equity of 8.95% and a negative net margin of 5.45%. Sell-side analysts anticipate that HIVE Digital Technologies will post -0.32 EPS for the current year.

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.