Van ECK Associates Corp Trims Holdings in HIVE Digital Technologies Ltd. (NASDAQ:HIVE)

Van ECK Associates Corp reduced its holdings in shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) by 0.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 3,869,690 shares of the company’s stock after selling 24,915 shares during the period. Van ECK Associates Corp’s holdings in HIVE Digital Technologies were worth $12,112,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of HIVE Digital Technologies during the second quarter worth about $36,000. Gladstone Institutional Advisory LLC purchased a new position in shares of HIVE Digital Technologies in the 3rd quarter valued at approximately $44,000. Impact Partnership Wealth LLC increased its holdings in shares of HIVE Digital Technologies by 202.4% in the second quarter. Impact Partnership Wealth LLC now owns 48,945 shares of the company’s stock valued at $151,000 after purchasing an additional 32,760 shares during the period. Vident Advisory LLC raised its stake in shares of HIVE Digital Technologies by 78.6% during the first quarter. Vident Advisory LLC now owns 1,737,308 shares of the company’s stock worth $5,856,000 after purchasing an additional 764,387 shares during the last quarter. Finally, MMCAP International Inc. SPC acquired a new stake in shares of HIVE Digital Technologies during the first quarter worth $11,227,000. 24.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. HC Wainwright raised shares of HIVE Digital Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $4.00 to $5.00 in a research note on Thursday, August 15th. Cantor Fitzgerald initiated coverage on shares of HIVE Digital Technologies in a report on Tuesday, October 29th. They set an “overweight” rating and a $9.00 price target for the company. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $6.00 price objective on shares of HIVE Digital Technologies in a report on Wednesday, August 21st. Northland Securities began coverage on HIVE Digital Technologies in a research note on Thursday, September 19th. They set an “outperform” rating and a $5.50 target price for the company. Finally, B. Riley assumed coverage on shares of HIVE Digital Technologies in a research report on Friday, July 19th. They set a “buy” rating and a $6.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $6.25.

HIVE Digital Technologies Stock Performance

Shares of HIVE opened at $3.64 on Wednesday. The company has a current ratio of 7.35, a quick ratio of 7.35 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average of $3.26 and a two-hundred day moving average of $3.12. HIVE Digital Technologies Ltd. has a 12-month low of $2.18 and a 12-month high of $5.74. The stock has a market cap of $444.95 million, a P/E ratio of -9.84 and a beta of 3.43.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.08). HIVE Digital Technologies had a negative return on equity of 20.88% and a negative net margin of 25.74%. The business had revenue of $32.24 million for the quarter, compared to the consensus estimate of $31.85 million. As a group, research analysts predict that HIVE Digital Technologies Ltd. will post -0.28 EPS 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.