Chesapeake Capital Corp IL Takes Position in HIVE Digital Technologies Ltd. (NASDAQ:HIVE)

Chesapeake Capital Corp IL purchased a new stake in shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 32,850 shares of the company’s stock, valued at approximately $94,000.

Several other large investors have also made changes to their positions in HIVE. Charles Schwab Investment Management Inc. lifted its stake in shares of HIVE Digital Technologies by 48.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 325,216 shares of the company’s stock valued at $1,018,000 after acquiring an additional 106,103 shares during the period. Centiva Capital LP acquired a new position in shares of HIVE Digital Technologies during the third quarter valued at $235,000. Quadrature Capital Ltd acquired a new position in shares of HIVE Digital Technologies during the third quarter valued at $50,000. State Street Corp lifted its stake in shares of HIVE Digital Technologies by 2.9% during the third quarter. State Street Corp now owns 3,214,101 shares of the company’s stock valued at $10,060,000 after acquiring an additional 91,056 shares during the period. Finally, Wellington Management Group LLP acquired a new position in shares of HIVE Digital Technologies during the third quarter valued at $120,000. Institutional investors and hedge funds own 24.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HIVE. Rosenblatt Securities began coverage on HIVE Digital Technologies in a research note on Friday, March 7th. They issued a “buy” rating and a $6.00 target price on the stock. Roth Capital raised HIVE Digital Technologies to a “strong-buy” rating in a research note on Wednesday, December 18th. Keefe, Bruyette & Woods began coverage on HIVE Digital Technologies in a research note on Wednesday, January 8th. They issued an “outperform” rating on the stock. Roth Mkm began coverage on HIVE Digital Technologies in a research note on Thursday, December 19th. They issued a “buy” rating and a $7.50 target price on the stock. Finally, Cantor Fitzgerald cut their target price on HIVE Digital Technologies from $10.00 to $8.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, HIVE Digital Technologies has a consensus rating of “Buy” and an average target price of $7.64.

HIVE Digital Technologies Trading Down 7.4 %

NASDAQ HIVE opened at $1.62 on Wednesday. The firm has a market cap of $256.11 million, a P/E ratio of -32.40 and a beta of 3.51. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.41 and a quick ratio of 10.41. The stock’s 50-day moving average is $2.58 and its 200-day moving average is $3.21. HIVE Digital Technologies Ltd. has a one year low of $1.61 and a one year high of $5.54.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.05. HIVE Digital Technologies had a negative return on equity of 8.95% and a negative net margin of 5.45%. Sell-side analysts anticipate that HIVE Digital Technologies Ltd. will post -0.32 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.