Arrowstreet Capital Limited Partnership Takes $811,000 Position in HIVE Digital Technologies Ltd. (NASDAQ:HIVE)

Arrowstreet Capital Limited Partnership purchased a new position in shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 284,389 shares of the company's stock, valued at approximately $811,000. Arrowstreet Capital Limited Partnership owned about 0.19% of HIVE Digital Technologies at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. State Street Corp lifted its position in HIVE Digital Technologies by 2.9% in 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 last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of HIVE Digital Technologies by 126.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 736,287 shares of the company's stock valued at $2,098,000 after purchasing an additional 411,071 shares during the period. Van ECK Associates Corp grew its position in HIVE Digital Technologies by 17.9% in the 4th quarter. Van ECK Associates Corp now owns 4,562,489 shares of the company's stock valued at $13,003,000 after buying an additional 692,799 shares during the last quarter. Quantbot Technologies LP acquired a new position in HIVE Digital Technologies in the 4th quarter valued at $854,000. Finally, XTX Topco Ltd acquired a new stake in shares of HIVE Digital Technologies in the 3rd quarter worth $463,000. Hedge funds and other institutional investors own 24.42% of the company's stock.

HIVE Digital Technologies Trading Down 1.7 %

Shares of HIVE stock traded down $0.03 on Thursday, reaching $1.44. 1,300,778 shares of the stock were exchanged, compared to its average volume of 5,984,390. HIVE Digital Technologies Ltd. has a 1-year low of $1.26 and a 1-year high of $5.54. The stock has a market cap of $237.66 million, a P/E ratio of -28.70 and a beta of 3.55. The company has a quick ratio of 10.41, a current ratio of 10.41 and a debt-to-equity ratio of 0.03. The firm has a 50 day moving average of $1.91 and a two-hundred day moving average of $2.97.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate 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%. On average, research analysts anticipate that HIVE Digital Technologies Ltd. will post -0.32 EPS for the current year.

Wall Street Analysts Forecast Growth

HIVE has been the subject of a number of recent analyst reports. Rosenblatt Securities started coverage on shares of HIVE Digital Technologies in a research report on Friday, March 7th. They issued a "buy" rating and a $6.00 price objective for the company. StockNews.com raised HIVE Digital Technologies to a "sell" rating in a report on Tuesday, January 14th. Cantor Fitzgerald cut their price objective on 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. Roth Mkm started coverage on shares of HIVE Digital Technologies in a research note on Thursday, December 19th. They set a "buy" rating and a $7.50 price target on the stock. Finally, Canaccord Genuity Group reiterated a "buy" rating and issued a $9.00 price objective on shares of HIVE Digital Technologies in a research note on Wednesday, March 26th. One analyst has rated the stock with a sell rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $7.64.

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.