HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Stock Holdings Trimmed by MMCAP International Inc. SPC

MMCAP International Inc. SPC reduced its position in HIVE Digital Technologies Ltd. (NASDAQ:HIVE) by 4.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,392,564 shares of the company’s stock after selling 100,000 shares during the quarter. HIVE Digital Technologies makes up about 1.1% of MMCAP International Inc. SPC’s investment portfolio, making the stock its 26th biggest holding. MMCAP International Inc. SPC owned approximately 1.62% of HIVE Digital Technologies worth $6,819,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Lifeworks Advisors LLC acquired a new position in HIVE Digital Technologies in the third quarter valued at approximately $35,000. Gladstone Institutional Advisory LLC acquired a new position in HIVE Digital Technologies in the third quarter valued at approximately $44,000. Quadrature Capital Ltd acquired a new position in HIVE Digital Technologies in the third quarter valued at approximately $50,000. Tobam boosted its stake in HIVE Digital Technologies by 198.6% in the fourth quarter. Tobam now owns 19,060 shares of the company’s stock valued at $54,000 after acquiring an additional 12,676 shares during the period. Finally, Wellington Management Group LLP acquired a new position in HIVE Digital Technologies in the third quarter valued at approximately $120,000. 24.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HIVE has been the subject of a number of research reports. Northland Securities lifted their target price on HIVE Digital Technologies from $5.50 to $7.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Canaccord Genuity Group lifted their target price on HIVE Digital Technologies from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $9.00 price target on shares of HIVE Digital Technologies in a report on Tuesday, November 19th. 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 report on Thursday, February 13th. Finally, Roth Capital raised HIVE Digital Technologies to a “strong-buy” rating in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $8.08.

HIVE Digital Technologies Price Performance

Shares of NASDAQ:HIVE opened at $2.18 on Wednesday. HIVE Digital Technologies Ltd. has a 12 month low of $2.14 and a 12 month high of $5.54. The stock has a market cap of $341.41 million, a price-to-earnings ratio of -43.60 and a beta of 3.46. The stock’s 50 day moving average price is $2.95 and its 200 day moving average price is $3.34. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.41 and a quick ratio of 10.41.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its earnings results on Tuesday, February 11th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate 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%. Equities research analysts anticipate that HIVE Digital Technologies Ltd. will post -0.32 earnings per share 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.