Van ECK Associates Corp Has $9.69 Million Stake in HIVE Digital Technologies Ltd. (NASDAQ:HIVE)

Van ECK Associates Corp boosted its holdings in shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) by 56.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,876,374 shares of the company’s stock after buying an additional 1,032,672 shares during the quarter. Van ECK Associates Corp owned about 2.68% of HIVE Digital Technologies worth $9,693,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Quadrature Capital Ltd bought a new stake in HIVE Digital Technologies during the fourth quarter valued at about $458,000. Invesco Ltd. boosted its holdings in HIVE Digital Technologies by 2.8% during the third quarter. Invesco Ltd. now owns 2,918,364 shares of the company’s stock valued at $8,989,000 after acquiring an additional 80,788 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in 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 acquiring an additional 54,615 shares during the period. Global Strategic Investment Solutions LLC bought a new stake in HIVE Digital Technologies during the fourth quarter valued at about $113,000. Finally, Baader Bank Aktiengesellschaft bought a new stake in HIVE Digital Technologies during the fourth quarter valued at about $100,000. 24.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on HIVE shares. Canaccord Genuity Group restated a “buy” rating and set a $6.00 price target on shares of HIVE Digital Technologies in a report on Wednesday, June 26th. HC Wainwright reiterated a “neutral” rating and issued a $3.50 target price on shares of HIVE Digital Technologies in a research note on Wednesday, June 26th. Finally, StockNews.com upgraded shares of HIVE Digital Technologies to a “sell” rating in a research note on Sunday, June 9th.

HIVE Digital Technologies Stock Performance

Shares of NASDAQ HIVE traded up $0.19 during mid-day trading on Friday, hitting $3.24. The company had a trading volume of 5,451,842 shares, compared to its average volume of 3,174,750. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.77 and a quick ratio of 6.77. The business’s 50-day simple moving average is $2.77 and its 200-day simple moving average is $3.31. HIVE Digital Technologies Ltd. has a 12 month low of $2.18 and a 12 month high of $6.84. The firm has a market cap of $379.34 million, a P/E ratio of -5.53 and a beta of 3.51.

HIVE Digital Technologies (NASDAQ:HIVE) last released its earnings results on Monday, June 24th. The company reported ($0.03) earnings per share for the quarter, beating 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 business had revenue of $36.88 million during the quarter, compared to analysts’ expectations of $39.70 million. As a group, analysts predict that HIVE Digital Technologies Ltd. will post -0.39 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.