HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Short Interest Up 29.5% in February

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

Hedge Funds Weigh In On HIVE Digital Technologies

Several institutional investors have recently bought and sold shares of HIVE. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of HIVE Digital Technologies during the fourth quarter valued at approximately $26,000. Lifeworks Advisors LLC bought a new stake in HIVE Digital Technologies in the third quarter valued at approximately $35,000. Gladstone Institutional Advisory LLC acquired a new stake in HIVE Digital Technologies during the 3rd quarter worth $44,000. Wells Fargo & Company MN raised its position in shares of HIVE Digital Technologies by 60.9% during the fourth quarter. Wells Fargo & Company MN now owns 15,320 shares of the company’s stock worth $44,000 after purchasing an additional 5,800 shares during the period. Finally, Quadrature Capital Ltd acquired a new stake in HIVE Digital Technologies during the 3rd quarter worth approximately $50,000. Institutional investors own 24.42% of the company’s stock.

HIVE Digital Technologies Price Performance

NASDAQ:HIVE traded down $0.03 during trading hours on Thursday, reaching $1.94. The company had a trading volume of 3,719,538 shares, compared to its average volume of 5,334,441. The firm has a market capitalization of $303.04 million, a PE ratio of -38.90 and a beta of 3.46. The stock has a 50-day moving average of $2.81 and a two-hundred day moving average of $3.30. HIVE Digital Technologies has a one year low of $1.78 and a one year 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.

HIVE Digital Technologies (NASDAQ:HIVE) last announced 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 net margin of 5.45% and a negative return on equity of 8.95%. Analysts forecast that HIVE Digital Technologies will post -0.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on HIVE shares. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price target (up from $8.00) on shares of HIVE Digital Technologies in a research report on Thursday, February 13th. StockNews.com raised shares of HIVE Digital Technologies to a “sell” rating in a research report on Tuesday, January 14th. Northland Securities increased their price target on shares of HIVE Digital Technologies from $5.50 to $7.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Keefe, Bruyette & Woods initiated coverage on shares of HIVE Digital Technologies in a report on Wednesday, January 8th. They set an “outperform” rating on the stock. Finally, Roth Mkm began coverage on shares of HIVE Digital Technologies in a research note on Thursday, December 19th. They issued a “buy” rating and a $7.50 target price for the company. One research analyst has rated the stock with a sell rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $8.08.

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.