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

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) saw a significant drop in short interest during the month of October. As of October 15th, there was short interest totaling 10,840,000 shares, a drop of 28.2% from the September 30th total of 15,090,000 shares. Approximately 4.7% of the shares of the company are sold short. Based on an average daily trading volume, of 31,880,000 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily trading volume, of 31,880,000 shares, the days-to-cover ratio is presently 0.3 days. Approximately 4.7% of the shares of the company are sold short.

Institutional Trading of HIVE Digital Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vident Advisory LLC grew its position in HIVE Digital Technologies by 53.0% in the 2nd quarter. Vident Advisory LLC now owns 3,766,446 shares of the company’s stock valued at $6,780,000 after acquiring an additional 1,305,057 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in HIVE Digital Technologies by 104.2% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,793,562 shares of the company’s stock worth $3,233,000 after purchasing an additional 915,105 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in HIVE Digital Technologies by 87.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,383,446 shares of the company’s stock worth $2,006,000 after purchasing an additional 647,159 shares during the last quarter. Voya Investment Management LLC purchased a new stake in HIVE Digital Technologies in the third quarter valued at approximately $1,672,000. Finally, Goldman Sachs Group Inc. lifted its stake in HIVE Digital Technologies by 328.2% in the first quarter. Goldman Sachs Group Inc. now owns 520,877 shares of the company’s stock valued at $755,000 after buying an additional 399,223 shares during the last quarter. 24.42% of the stock is owned by institutional investors and hedge funds.

HIVE Digital Technologies Stock Performance

NASDAQ:HIVE traded up $0.18 during midday trading on Monday, hitting $5.38. The company’s stock had a trading volume of 24,856,301 shares, compared to its average volume of 19,836,746. The firm has a market cap of $1.28 billion, a P/E ratio of -26.90 and a beta of 3.54. HIVE Digital Technologies has a fifty-two week low of $1.26 and a fifty-two week high of $7.84. The firm’s 50 day moving average is $4.44 and its 200-day moving average is $2.86. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.42 and a quick ratio of 3.42.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The business had revenue of $45.61 million for the quarter, compared to analysts’ expectations of $45.16 million. HIVE Digital Technologies had a negative net margin of 17.47% and a negative return on equity of 17.39%. Equities analysts anticipate that HIVE Digital Technologies will post -0.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on HIVE. Northland Securities set a $7.50 price objective on shares of HIVE Digital Technologies in a report on Tuesday, October 7th. Zacks Research upgraded shares of HIVE Digital Technologies to a “hold” rating in a research report on Friday, August 8th. B. Riley restated a “buy” rating on shares of HIVE Digital Technologies in a research report on Wednesday, October 22nd. Weiss Ratings reiterated a “sell (d+)” rating on shares of HIVE Digital Technologies in a research report on Friday. Finally, Wall Street Zen upgraded shares of HIVE Digital Technologies from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 16th. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $8.00.

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.