HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Sees Large Increase in Short Interest

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) saw a significant growth in short interest in December. As of December 31st, there was short interest totalling 3,960,000 shares, a growth of 13.1% from the December 15th total of 3,500,000 shares. Based on an average daily trading volume, of 7,250,000 shares, the short-interest ratio is currently 0.5 days. Currently, 3.1% of the shares of the stock are short sold.

HIVE Digital Technologies Trading Up 1.6 %

HIVE stock traded up $0.05 during midday trading on Friday, reaching $3.20. 13,382,429 shares of the company traded hands, compared to its average volume of 8,295,840. HIVE Digital Technologies has a 52-week low of $2.18 and a 52-week high of $5.54. The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.56 and a current ratio of 5.56. The business has a 50 day moving average of $3.68 and a 200-day moving average of $3.47. The firm has a market capitalization of $452.61 million, a price-to-earnings ratio of -22.86 and a beta of 3.46.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. HIVE Digital Technologies had a negative return on equity of 10.78% and a negative net margin of 12.04%. The business had revenue of $22.65 million for the quarter, compared to the consensus estimate of $25.32 million. During the same period in the prior year, the business posted ($0.29) earnings per share. As a group, sell-side analysts expect that HIVE Digital Technologies will post -0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Canaccord Genuity Group boosted their target price on HIVE Digital Technologies from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $9.00 target price on shares of HIVE Digital Technologies in a research report on Tuesday, November 19th. Roth Mkm assumed coverage on HIVE Digital Technologies in a research report on Thursday, December 19th. They issued a “buy” rating and a $7.50 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $8.00 target price on shares of HIVE Digital Technologies in a research report on Tuesday, December 3rd. Finally, Keefe, Bruyette & Woods initiated coverage on HIVE Digital Technologies in a research report on Wednesday, January 8th. They issued an “outperform” rating on the stock. One equities research 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 data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $7.42.

Institutional Investors Weigh In On HIVE Digital Technologies

Several hedge funds and other institutional investors have recently modified their holdings of HIVE. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of HIVE Digital Technologies in the second quarter worth approximately $36,000. Gladstone Institutional Advisory LLC purchased a new stake in shares of HIVE Digital Technologies in the third quarter worth approximately $44,000. Lifeworks Advisors LLC purchased a new stake in shares of HIVE Digital Technologies in the third quarter worth approximately $35,000. Charles Schwab Investment Management Inc. raised its holdings in shares of HIVE Digital Technologies by 48.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 325,216 shares of the company’s stock worth $1,018,000 after buying an additional 106,103 shares during the period. Finally, Centiva Capital LP purchased a new stake in shares of HIVE Digital Technologies in the third quarter worth approximately $235,000. 24.42% of the stock is currently owned by hedge funds and other institutional investors.

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.