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

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) was the target of a large increase in short interest in July. As of July 15th, there was short interest totalling 6,190,000 shares, an increase of 13.4% from the June 30th total of 5,460,000 shares. Approximately 6.0% of the company’s stock are sold short. Based on an average trading volume of 3,760,000 shares, the short-interest ratio is currently 1.6 days.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. HC Wainwright upped their price objective on shares of HIVE Digital Technologies from $3.50 to $4.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. StockNews.com upgraded shares of HIVE Digital Technologies to a “sell” rating in a report on Sunday, June 9th. Canaccord Genuity Group reiterated a “buy” rating and issued a $6.00 price objective on shares of HIVE Digital Technologies in a report on Wednesday, June 26th. Finally, B. Riley assumed coverage on shares of HIVE Digital Technologies in a report on Friday, July 19th. They issued a “buy” rating and a $6.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $5.50.

HIVE Digital Technologies Price Performance

NASDAQ:HIVE traded up $0.05 during mid-day trading on Wednesday, hitting $3.63. The company’s stock had a trading volume of 6,442,565 shares, compared to its average volume of 3,384,861. HIVE Digital Technologies has a fifty-two week low of $2.18 and a fifty-two week high of $5.74. The company has a current ratio of 6.77, a quick ratio of 6.77 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $427.31 million, a price-to-earnings ratio of -6.15 and a beta of 3.51. The stock has a fifty day moving average of $3.25 and a 200-day moving average of $3.20.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its quarterly earnings results on Monday, June 24th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.10. HIVE Digital Technologies had a negative net margin of 44.73% and a negative return on equity of 28.52%. The firm had revenue of $36.88 million during the quarter, compared to analyst estimates of $39.70 million. As a group, equities analysts forecast that HIVE Digital Technologies will post -0.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Chesapeake Capital Corp IL acquired a new stake in shares of HIVE Digital Technologies during the fourth quarter worth approximately $92,000. Van ECK Associates Corp grew its stake in shares of HIVE Digital Technologies by 39.8% during the fourth quarter. Van ECK Associates Corp now owns 1,843,702 shares of the company’s stock valued at $8,352,000 after purchasing an additional 524,613 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of HIVE Digital Technologies by 6.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 914,308 shares of the company’s stock valued at $4,133,000 after purchasing an additional 54,615 shares during the last quarter. Scotia Capital Inc. bought a new stake in shares of HIVE Digital Technologies during the fourth quarter valued at approximately $64,000. Finally, Quadrature Capital Ltd bought a new stake in shares of HIVE Digital Technologies during the fourth quarter valued at approximately $458,000. Institutional investors and hedge funds own 24.42% of the company’s stock.

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.