HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Short Interest Down 12.2% in September

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) was the target of a large decrease in short interest in the month of 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 trading volume, of 3,440,000 shares, the days-to-cover ratio is currently 1.6 days. Currently, 4.5% of the company’s stock are short sold.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On HIVE Digital Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of HIVE Digital Technologies during the second quarter valued at approximately $36,000. Sloy Dahl & Holst LLC bought a new stake in shares of HIVE Digital Technologies during the 1st quarter worth $41,000. Impact Partnership Wealth LLC boosted its holdings 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 worth $151,000 after buying an additional 32,760 shares during the last quarter. Quadrature Capital Ltd purchased a new position in HIVE Digital Technologies in the fourth quarter valued at about $458,000. Finally, Vident Advisory LLC lifted its stake in HIVE Digital Technologies by 78.6% in the first quarter. Vident Advisory LLC now owns 1,737,308 shares of the company’s stock valued at $5,856,000 after purchasing an additional 764,387 shares during the last quarter. Hedge funds and other institutional investors own 24.42% of the company’s stock.

HIVE Digital Technologies Stock Up 3.6 %

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

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