HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Short Interest Up 13.1% in December

HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Get Free Report) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 3,960,000 shares, an increase of 13.1% from the December 15th total of 3,500,000 shares. Based on an average daily volume of 7,250,000 shares, the days-to-cover ratio is presently 0.5 days. Currently, 3.1% of the company's shares are sold short.

Institutional Investors Weigh In On HIVE Digital Technologies

Hedge funds have recently modified their holdings of the company. XTX Topco Ltd acquired a new stake in shares of HIVE Digital Technologies during the 3rd quarter worth about $463,000. Charles Schwab Investment Management Inc. boosted its stake in 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 worth $1,018,000 after buying an additional 106,103 shares during the period. State Street Corp boosted its stake in HIVE Digital Technologies by 2.9% during the third quarter. State Street Corp now owns 3,214,101 shares of the company's stock worth $10,060,000 after buying an additional 91,056 shares during the period. Centiva Capital LP acquired a new stake in shares of HIVE Digital Technologies during the third quarter valued at about $235,000. Finally, Virtu Financial LLC raised its stake in shares of HIVE Digital Technologies by 527.9% in the 3rd quarter. Virtu Financial LLC now owns 71,990 shares of the company's stock valued at $225,000 after acquiring an additional 60,524 shares during the period. Hedge funds and other institutional investors own 24.42% of the company's stock.

Analyst Upgrades and Downgrades

HIVE has been the subject of several analyst reports. Keefe, Bruyette & Woods assumed coverage on shares of HIVE Digital Technologies in a research note on Wednesday, January 8th. They issued an "outperform" rating for the company. Roth Mkm initiated coverage on HIVE Digital Technologies in a research note on Thursday, December 19th. They set a "buy" rating and a $7.50 price target for the company. StockNews.com raised HIVE Digital Technologies to a "sell" rating in a research report on Tuesday, January 14th. Canaccord Genuity Group lifted their target price on HIVE Digital Technologies from $6.00 to $7.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. Finally, Northland Securities boosted their target price on shares of HIVE Digital Technologies from $5.50 to $7.00 and gave the company an "outperform" rating in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $7.42.

HIVE Digital Technologies Price Performance

HIVE traded up $0.05 on Friday, reaching $3.20. 13,382,429 shares of the company's stock were exchanged, compared to its average volume of 8,295,840. HIVE Digital Technologies has a twelve month low of $2.18 and a twelve month high of $5.54. The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.56 and a current ratio of 5.56. The stock's fifty day moving average price is $3.68 and its 200-day moving average price is $3.47.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.03. HIVE Digital Technologies had a negative return on equity of 10.78% and a negative net margin of 12.04%. The company had revenue of $22.65 million during the quarter, compared to analysts' expectations of $25.32 million. During the same period in the prior year, the business earned ($0.29) EPS. On average, analysts anticipate that HIVE Digital Technologies will post -0.34 EPS for the current 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.