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

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) saw a large increase in short interest during the month of 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. Based on an average daily trading volume, of 7,250,000 shares, the short-interest ratio is currently 0.5 days. Currently, 3.1% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on HIVE. StockNews.com raised shares of HIVE Digital Technologies to a “sell” rating in a research report on Tuesday. Northland Securities upped their price objective on shares of HIVE Digital Technologies from $5.50 to $7.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Canaccord Genuity Group upped their price objective on shares of HIVE Digital Technologies from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. HC Wainwright reissued a “buy” rating and issued a $8.00 price objective on shares of HIVE Digital Technologies in a research report on Tuesday, December 3rd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $9.00 price objective on shares of HIVE Digital Technologies in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $7.42.

HIVE Digital Technologies Stock Performance

HIVE stock traded up $0.05 during trading on Friday, hitting $3.20. 13,382,429 shares of the company’s stock traded hands, compared to its average volume of 8,295,840. The stock has a fifty day moving average price of $3.68 and a two-hundred day moving average price of $3.47. The company has a quick ratio of 5.56, a current ratio of 5.56 and a debt-to-equity ratio of 0.06. HIVE Digital Technologies has a 52 week low of $2.18 and a 52 week high of $5.54. The stock 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 released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.03. HIVE Digital Technologies had a negative net margin of 12.04% and a negative return on equity of 10.78%. The firm had revenue of $22.65 million for the quarter, compared to analyst estimates of $25.32 million. During the same quarter in the prior year, the business earned ($0.29) earnings per share. As a group, equities analysts anticipate that HIVE Digital Technologies will post -0.34 EPS for the current fiscal year.

Institutional Trading of HIVE Digital Technologies

Several hedge funds have recently made changes to their positions in HIVE. XTX Topco Ltd bought a new stake in shares of HIVE Digital Technologies in the 3rd quarter worth approximately $463,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of HIVE Digital Technologies by 48.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 325,216 shares of the company’s stock worth $1,018,000 after purchasing an additional 106,103 shares during the last quarter. State Street Corp increased its position 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 valued at $10,060,000 after acquiring an additional 91,056 shares during the period. Centiva Capital LP acquired a new stake in HIVE Digital Technologies in the 3rd quarter valued at approximately $235,000. Finally, Virtu Financial LLC increased its position in HIVE Digital Technologies by 527.9% in the 3rd quarter. Virtu Financial LLC now owns 71,990 shares of the company’s stock valued at $225,000 after acquiring an additional 60,524 shares during the period. Institutional investors own 24.42% of the company’s stock.

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.