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

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) was the recipient of a significant decrease in short interest in September. As of September 30th, there was short interest totalling 5,340,000 shares, a decrease of 12.2% from the September 15th total of 6,080,000 shares. Based on an average daily volume of 3,440,000 shares, the short-interest ratio is presently 1.6 days. Currently, 4.5% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of HIVE Digital Technologies during the second quarter worth $36,000. Sloy Dahl & Holst LLC bought a new stake in shares of HIVE Digital Technologies in the 1st quarter valued at about $41,000. Impact Partnership Wealth LLC raised its position in shares of HIVE Digital Technologies by 202.4% in the 2nd quarter. Impact Partnership Wealth LLC now owns 48,945 shares of the company’s stock valued at $151,000 after acquiring an additional 32,760 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of HIVE Digital Technologies in the 4th quarter valued at approximately $458,000. Finally, Vident Advisory LLC boosted its stake in HIVE Digital Technologies by 78.6% during the 1st quarter. Vident Advisory LLC now owns 1,737,308 shares of the company’s stock worth $5,856,000 after acquiring an additional 764,387 shares during the last quarter. 24.42% of the stock is currently owned by institutional investors and hedge funds.

HIVE Digital Technologies Price Performance

HIVE traded up $0.12 during midday trading on Wednesday, hitting $3.45. The company had a trading volume of 4,901,428 shares, compared to its average volume of 3,318,929. The company has a debt-to-equity ratio of 0.06, a quick ratio of 7.35 and a current ratio of 7.35. The firm’s 50-day simple moving average is $3.08 and its 200-day simple moving average is $3.04. HIVE Digital Technologies has a twelve month low of $2.18 and a twelve month high of $5.74. The company has a market capitalization of $406.12 million, a PE ratio of -5.85 and a beta of 3.48.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.08). The business had revenue of $32.24 million for the quarter, compared to analyst estimates of $31.85 million. HIVE Digital Technologies had a negative return on equity of 20.88% and a negative net margin of 25.74%. Equities research analysts predict that HIVE Digital Technologies will post -0.28 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on the company. B. Riley assumed coverage on HIVE Digital Technologies in a research report on Friday, July 19th. They set a “buy” rating and a $6.00 target price for the company. Northland Securities started coverage on shares of HIVE Digital Technologies in a research report on Thursday, September 19th. They set an “outperform” rating and a $5.50 target price for the company. Northland Capmk raised shares of HIVE Digital Technologies to a “strong-buy” rating in a report on Thursday, September 19th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $6.00 price objective on shares of HIVE Digital Technologies in a research note on Wednesday, August 21st. Finally, HC Wainwright upgraded shares of HIVE Digital Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the company from $4.00 to $5.00 in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $5.70.

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.