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

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) was the target of a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 3,840,000 shares, a growth of 15.7% from the May 31st total of 3,320,000 shares. Based on an average trading volume of 2,880,000 shares, the days-to-cover ratio is presently 1.3 days. Approximately 3.7% of the shares of the company are short sold.

HIVE Digital Technologies Stock Down 2.8 %

Shares of HIVE stock opened at $3.08 on Monday. HIVE Digital Technologies has a 1 year low of $2.18 and a 1 year high of $6.84. The company has a current ratio of 6.77, a quick ratio of 6.77 and a debt-to-equity ratio of 0.07. The stock has a 50 day simple moving average of $2.76 and a 200 day simple moving average of $3.32.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its quarterly earnings results on Monday, June 24th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.10. HIVE Digital Technologies had a negative return on equity of 28.52% and a negative net margin of 44.73%. The business had revenue of $36.88 million during the quarter, compared to the consensus estimate of $39.70 million. Equities analysts expect that HIVE Digital Technologies will post -0.39 earnings per share for the current fiscal year.

Institutional Trading of HIVE Digital Technologies

Several large investors have recently made changes to their positions in the company. Invesco Ltd. lifted its position in shares of HIVE Digital Technologies by 2.8% during the 3rd quarter. Invesco Ltd. now owns 2,918,364 shares of the company’s stock worth $8,989,000 after buying an additional 80,788 shares during the last quarter. Global Strategic Investment Solutions LLC acquired a new stake in shares of HIVE Digital Technologies in the 4th quarter valued at approximately $113,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of HIVE Digital Technologies by 6.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 914,308 shares of the company’s stock valued at $4,133,000 after acquiring an additional 54,615 shares in the last quarter. Atria Wealth Solutions Inc. bought a new stake in HIVE Digital Technologies during the 4th quarter worth $45,000. Finally, Van ECK Associates Corp increased its holdings in HIVE Digital Technologies by 39.8% in the 4th quarter. Van ECK Associates Corp now owns 1,843,702 shares of the company’s stock worth $8,352,000 after purchasing an additional 524,613 shares in the last quarter. Institutional investors and hedge funds own 24.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on HIVE shares. StockNews.com raised shares of HIVE Digital Technologies to a “sell” rating in a research report on Sunday, June 9th. Canaccord Genuity Group restated a “buy” rating and set a $6.00 price objective on shares of HIVE Digital Technologies in a report on Wednesday, June 26th. Finally, HC Wainwright reiterated a “neutral” rating and set a $3.50 price objective on shares of HIVE Digital Technologies in a research report on Wednesday, June 26th.

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.