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

HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Get Free Report) was the target of a significant growth in short interest in 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. Approximately 4.5% of the company's shares are sold short. Based on an average daily volume of 9,710,000 shares, the short-interest ratio is currently 0.7 days.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Vident Advisory LLC increased its holdings in shares of HIVE Digital Technologies by 26.1% during the fourth quarter. Vident Advisory LLC now owns 2,831,492 shares of the company's stock valued at $8,072,000 after acquiring an additional 585,511 shares in the last quarter. Tidal Investments LLC grew its position in HIVE Digital Technologies by 5.0% in the 4th quarter. Tidal Investments LLC now owns 4,210,339 shares of the company's stock valued at $11,999,000 after purchasing an additional 200,024 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in HIVE Digital Technologies during the 4th quarter valued at $26,000. Point72 Asset Management L.P. acquired a new position in HIVE Digital Technologies during the fourth quarter worth $249,000. Finally, Man Group plc bought a new position in shares of HIVE Digital Technologies in the fourth quarter valued at $1,118,000. 24.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Keefe, Bruyette & Woods initiated coverage on HIVE Digital Technologies in a report on Wednesday, January 8th. They set an "outperform" rating on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $9.00 price objective on shares of HIVE Digital Technologies in a research note on Tuesday, November 19th. Roth Capital raised shares of HIVE Digital Technologies to a "strong-buy" rating in a research report on Wednesday, December 18th. HC Wainwright restated a "buy" rating and issued a $10.00 price target (up previously from $8.00) on shares of HIVE Digital Technologies in a research report on Thursday, February 13th. Finally, Canaccord Genuity Group upped their price objective on shares of HIVE Digital Technologies from $8.00 to $9.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $8.08.

HIVE Digital Technologies Price Performance

Shares of NASDAQ:HIVE remained flat at $1.90 during mid-day trading on Tuesday. 12,812,996 shares of the stock traded hands, compared to its average volume of 10,778,880. The firm has a market capitalization of $297.56 million, a P/E ratio of -38.00 and a beta of 3.46. HIVE Digital Technologies has a 12 month low of $1.78 and a 12 month high of $5.54. The company has a 50 day moving average of $2.84 and a two-hundred day moving average of $3.31. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.41 and a quick ratio of 10.41.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last posted its quarterly earnings results 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 net margin of 5.45% and a negative return on equity of 8.95%. Research analysts expect that HIVE Digital Technologies 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.

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