Van ECK Associates Corp Increases Stake in HIVE Digital Technologies Ltd. (NASDAQ:HIVE)

Van ECK Associates Corp lifted its position in HIVE Digital Technologies Ltd. (NASDAQ:HIVE) by 17.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 4,562,489 shares of the company’s stock after acquiring an additional 692,799 shares during the quarter. Van ECK Associates Corp’s holdings in HIVE Digital Technologies were worth $13,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in HIVE. Lifeworks Advisors LLC acquired a new stake in shares of HIVE Digital Technologies during the 3rd quarter valued at about $35,000. Gladstone Institutional Advisory LLC purchased a new position in shares of HIVE Digital Technologies during the 3rd quarter valued at approximately $44,000. Quadrature Capital Ltd acquired a new stake in HIVE Digital Technologies in the 3rd quarter valued at $50,000. Tobam increased its holdings in HIVE Digital Technologies by 198.6% in the 4th quarter. Tobam now owns 19,060 shares of the company’s stock worth $54,000 after acquiring an additional 12,676 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new position in HIVE Digital Technologies during the third quarter worth $120,000. 24.42% of the stock is owned by hedge funds and other institutional investors.

HIVE Digital Technologies Trading Down 0.3 %

Shares of HIVE opened at $2.85 on Friday. The company has a current ratio of 5.56, a quick ratio of 5.56 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average price of $3.14 and a 200 day moving average price of $3.36. HIVE Digital Technologies Ltd. has a 12-month low of $2.18 and a 12-month high of $5.54. The firm has a market capitalization of $422.00 million, a P/E ratio of -20.36 and a beta of 3.46.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.05. HIVE Digital Technologies had a negative net margin of 12.04% and a negative return on equity of 10.78%. Sell-side analysts forecast that HIVE Digital Technologies Ltd. will post -0.34 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on HIVE shares. HC Wainwright reiterated a “buy” rating and issued a $10.00 target price (up previously from $8.00) on shares of HIVE Digital Technologies in a research report on Thursday. Canaccord Genuity Group increased their target price on HIVE Digital Technologies from $8.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday. Northland Securities lifted their price target on HIVE Digital Technologies from $5.50 to $7.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Roth Mkm assumed coverage on HIVE Digital Technologies in a research note on Thursday, December 19th. They issued a “buy” rating and a $7.50 price objective for the company. Finally, Roth Capital raised shares of HIVE Digital Technologies to a “strong-buy” rating in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $8.08.

HIVE Digital Technologies 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.