HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp reduced its position in shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) by 0.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,869,690 shares of the company’s stock after selling 24,915 shares during the period. Van ECK Associates Corp owned about 3.29% of HIVE Digital Technologies worth $12,112,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of HIVE. Gladstone Institutional Advisory LLC acquired a new position in HIVE Digital Technologies during the 3rd quarter worth about $44,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of HIVE Digital Technologies in the second quarter valued at approximately $36,000. Impact Partnership Wealth LLC grew its holdings in shares of HIVE Digital Technologies by 202.4% in the second quarter. Impact Partnership Wealth LLC now owns 48,945 shares of the company’s stock valued at $151,000 after purchasing an additional 32,760 shares in the last quarter. Vident Advisory LLC increased its stake in HIVE Digital Technologies by 78.6% during the 1st quarter. Vident Advisory LLC now owns 1,737,308 shares of the company’s stock worth $5,856,000 after buying an additional 764,387 shares during the period. Finally, MMCAP International Inc. SPC acquired a new stake in HIVE Digital Technologies during the 1st quarter worth approximately $11,227,000. 24.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Cantor Fitzgerald initiated coverage on shares of HIVE Digital Technologies in a research note on Tuesday, October 29th. They issued an “overweight” rating and a $9.00 price target for the company. Northland Securities initiated coverage on HIVE Digital Technologies in a research report on Thursday, September 19th. They issued an “outperform” rating and a $5.50 price target on the stock. B. Riley started coverage on HIVE Digital Technologies in a research report on Friday, July 19th. They set a “buy” rating and a $6.00 price objective for the company. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $6.00 target price on shares of HIVE Digital Technologies in a report on Wednesday, August 21st. Finally, HC Wainwright raised shares of HIVE Digital Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the company from $4.00 to $5.00 in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $6.25.

HIVE Digital Technologies Stock Up 7.4 %

HIVE stock opened at $3.64 on Wednesday. The company’s 50 day moving average is $3.26 and its two-hundred day moving average is $3.12. HIVE Digital Technologies Ltd. has a twelve month low of $2.18 and a twelve month high of $5.74. The company has a current ratio of 7.35, a quick ratio of 7.35 and a debt-to-equity ratio of 0.06. The stock has a market cap of $444.95 million, a P/E ratio of -9.84 and a beta of 3.43.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.08) EPS for the quarter, hitting 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 for the quarter, compared to analyst estimates of $31.85 million. Research analysts expect that HIVE Digital Technologies Ltd. will post -0.28 earnings per share for the current fiscal year.

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.