HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Short Interest Up 13.1% in January

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) was the recipient of a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 3,960,000 shares, an increase of 13.1% from the December 31st total of 3,500,000 shares. Approximately 3.1% of the company’s shares are sold short. Based on an average daily trading volume, of 7,250,000 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Trading of HIVE Digital Technologies

A number of institutional investors have recently modified their holdings of the company. Lifeworks Advisors LLC purchased a new stake in HIVE Digital Technologies in the third quarter valued at about $35,000. Gladstone Institutional Advisory LLC acquired a new position in shares of HIVE Digital Technologies during the third quarter valued at about $44,000. Quadrature Capital Ltd purchased a new position in shares of HIVE Digital Technologies in the 3rd quarter valued at approximately $50,000. Tobam grew its position in HIVE Digital Technologies by 198.6% during the 4th quarter. Tobam now owns 19,060 shares of the company’s stock worth $54,000 after purchasing an additional 12,676 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new position in HIVE Digital Technologies during the 3rd quarter valued at approximately $120,000. 24.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the company. StockNews.com raised HIVE Digital Technologies to a “sell” rating in a research report on Tuesday, January 14th. Cantor Fitzgerald restated an “overweight” rating and issued a $9.00 price target on shares of HIVE Digital Technologies in a report on Tuesday, November 19th. Roth Mkm assumed coverage on shares of HIVE Digital Technologies in a report on Thursday, December 19th. They set a “buy” rating and a $7.50 price objective for the company. Northland Securities boosted their price objective on shares of HIVE Digital Technologies from $5.50 to $7.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Finally, Keefe, Bruyette & Woods began coverage on shares of HIVE Digital Technologies in a research report on Wednesday, January 8th. They set an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, HIVE Digital Technologies has a consensus rating of “Buy” and a consensus price target of $7.42.

HIVE Digital Technologies Stock Down 0.7 %

HIVE stock traded down $0.02 during trading on Monday, hitting $2.91. 13,791,041 shares of the company’s stock traded hands, compared to its average volume of 11,261,685. The business has a fifty day simple moving average of $3.38 and a two-hundred day simple moving average of $3.44. The company has a quick ratio of 5.56, a current ratio of 5.56 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $430.88 million, a P/E ratio of -20.78 and a beta of 3.46. HIVE Digital Technologies has a 1 year low of $2.18 and a 1 year high of $5.54.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.03. The firm had revenue of $22.65 million during the quarter, compared to analyst estimates of $25.32 million. HIVE Digital Technologies had a negative return on equity of 10.78% and a negative net margin of 12.04%. During the same period in the previous year, the company posted ($0.29) EPS. Sell-side analysts anticipate that HIVE Digital Technologies will post -0.34 EPS for the current year.

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.