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

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) was the target of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 9,670,000 shares, an increase of 38.5% from the February 13th total of 6,980,000 shares. Currently, 6.3% of the shares of the company are short sold. Based on an average daily volume of 10,220,000 shares, the short-interest ratio is currently 0.9 days.

HIVE Digital Technologies Price Performance

Shares of HIVE traded up $0.07 during midday trading on Friday, hitting $1.74. 5,894,267 shares of the company traded hands, compared to its average volume of 5,494,345. The firm has a 50 day moving average of $2.64 and a 200-day moving average of $3.23. HIVE Digital Technologies has a 52 week low of $1.66 and a 52 week high of $5.54. The stock has a market cap of $275.08 million, a price-to-earnings ratio of -34.80 and a beta of 3.51. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.41 and a current ratio of 10.41.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.05. HIVE Digital Technologies had a negative net margin of 5.45% and a negative return on equity of 8.95%. On average, analysts forecast that HIVE Digital Technologies will post -0.32 EPS for the current fiscal year.

Institutional Trading of HIVE Digital Technologies

Institutional investors have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in HIVE Digital Technologies in the fourth quarter worth about $26,000. Lifeworks Advisors LLC bought a new stake in HIVE Digital Technologies in the third quarter worth about $35,000. Wells Fargo & Company MN lifted its stake in HIVE Digital Technologies by 60.9% in the fourth quarter. Wells Fargo & Company MN now owns 15,320 shares of the company’s stock worth $44,000 after purchasing an additional 5,800 shares during the last quarter. Quadrature Capital Ltd bought a new stake in HIVE Digital Technologies in the third quarter worth about $50,000. Finally, Franklin Resources Inc. bought a new stake in HIVE Digital Technologies in the fourth quarter worth about $53,000. Institutional investors own 24.42% of the company’s stock.

Analysts Set New Price Targets

HIVE has been the subject of a number of research analyst reports. StockNews.com raised shares of HIVE Digital Technologies to a “sell” rating in a research report on Tuesday, January 14th. Canaccord Genuity Group lifted their target price on shares of HIVE Digital Technologies from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Roth Mkm started coverage on shares of HIVE Digital Technologies in a research report on Thursday, December 19th. They set a “buy” rating and a $7.50 price objective for the company. Keefe, Bruyette & Woods started coverage on shares of HIVE Digital Technologies in a research report on Wednesday, January 8th. They set an “outperform” rating for the company. Finally, Cantor Fitzgerald cut their price objective on shares of HIVE Digital Technologies from $10.00 to $8.00 and set an “overweight” rating for the company in a research report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, HIVE Digital Technologies presently has an average rating of “Buy” and an average price target of $7.64.

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.