HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Sees Significant Growth in Short Interest

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) was the recipient of a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 6,980,000 shares, a growth of 29.5% from the January 31st total of 5,390,000 shares. Based on an average daily trading volume, of 9,710,000 shares, the days-to-cover ratio is presently 0.7 days. Approximately 4.5% of the shares of the company are sold short.

Institutional Trading of HIVE Digital Technologies

A number of institutional investors have recently bought and sold shares of the company. Vident Advisory LLC lifted its stake in shares of HIVE Digital Technologies by 26.1% in the 4th quarter. Vident Advisory LLC now owns 2,831,492 shares of the company’s stock valued at $8,072,000 after purchasing an additional 585,511 shares during the last quarter. Tidal Investments LLC lifted its position in shares of HIVE Digital Technologies by 5.0% in the fourth quarter. Tidal Investments LLC now owns 4,210,339 shares of the company’s stock worth $11,999,000 after buying an additional 200,024 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of HIVE Digital Technologies during the 4th quarter worth about $26,000. Point72 Asset Management L.P. acquired a new position in shares of HIVE Digital Technologies during the 4th quarter valued at about $249,000. Finally, Man Group plc acquired a new stake in HIVE Digital Technologies in the 4th quarter worth approximately $1,118,000. Institutional investors and hedge funds own 24.42% of the company’s stock.

HIVE Digital Technologies Stock Performance

HIVE Digital Technologies stock traded down $0.03 during mid-day trading on Thursday, reaching $1.94. The company’s stock had a trading volume of 3,719,538 shares, compared to its average volume of 5,334,441. The company has a current ratio of 10.41, a quick ratio of 10.41 and a debt-to-equity ratio of 0.03. HIVE Digital Technologies has a twelve month low of $1.78 and a twelve month high of $5.54. The business has a 50 day moving average price of $2.81 and a 200-day moving average price of $3.30. The firm has a market cap of $303.04 million, a price-to-earnings ratio of -38.90 and a beta of 3.46.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its earnings results on Tuesday, February 11th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating 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 predict that HIVE Digital Technologies will post -0.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. HC Wainwright reissued a “buy” rating and set a $10.00 price target (up from $8.00) on shares of HIVE Digital Technologies in a research report on Thursday, February 13th. Roth Mkm assumed coverage on HIVE Digital Technologies in a report on Thursday, December 19th. They issued a “buy” rating and a $7.50 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $9.00 price target on shares of HIVE Digital Technologies in a research report on Tuesday, November 19th. Northland Securities raised their price target on HIVE Digital Technologies from $5.50 to $7.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Finally, Roth Capital upgraded shares of HIVE Digital Technologies to a “strong-buy” rating in a research 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 company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $8.08.

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.