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

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 5,860,000 shares, a growth of 23.6% from the August 15th total of 4,740,000 shares. Currently, 5.0% of the shares of the stock are short sold. Based on an average daily volume of 4,200,000 shares, the short-interest ratio is currently 1.4 days.

Analysts Set New Price Targets

HIVE has been the topic of a number of analyst reports. Canaccord Genuity Group reiterated a “buy” rating and set a $6.00 price objective on shares of HIVE Digital Technologies in a research note on Wednesday, August 21st. B. Riley assumed coverage on shares of HIVE Digital Technologies in a research note on Friday, July 19th. They issued a “buy” rating and a $6.00 price objective on the stock. StockNews.com raised HIVE Digital Technologies to a “sell” rating in a report on Sunday, June 9th. Finally, HC Wainwright upgraded HIVE Digital Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the company from $4.00 to $5.00 in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $5.75.

HIVE Digital Technologies Stock Down 3.9 %

Shares of NASDAQ HIVE opened at $2.96 on Tuesday. The company has a 50 day simple moving average of $3.27 and a 200 day simple moving average of $3.06. The company has a debt-to-equity ratio of 0.06, a current ratio of 7.35 and a quick ratio of 7.35. HIVE Digital Technologies has a 1 year low of $2.18 and a 1 year high of $5.74. The firm has a market cap of $348.44 million, a PE ratio of -5.02 and a beta of 3.48.

HIVE Digital Technologies (NASDAQ:HIVE) last released 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). HIVE Digital Technologies had a negative net margin of 25.74% and a negative return on equity of 20.88%. The firm had revenue of $32.24 million during the quarter, compared to the consensus estimate of $31.85 million. On average, research analysts forecast that HIVE Digital Technologies will post -0.28 EPS for the current year.

Institutional Investors Weigh In On HIVE Digital Technologies

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC acquired a new position in shares of HIVE Digital Technologies in the second quarter worth approximately $36,000. Sloy Dahl & Holst LLC bought a new position in HIVE Digital Technologies during the 1st quarter worth approximately $41,000. Scotia Capital Inc. bought a new position in HIVE Digital Technologies during the 4th quarter worth approximately $64,000. Chesapeake Capital Corp IL acquired a new position in shares of HIVE Digital Technologies in the 4th quarter worth approximately $92,000. Finally, Financial Advocates Investment Management boosted its stake in shares of HIVE Digital Technologies by 10.8% in the 4th quarter. Financial Advocates Investment Management now owns 31,644 shares of the company’s stock valued at $143,000 after purchasing an additional 3,080 shares during the last quarter. Institutional investors own 24.42% of the company’s stock.

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.