HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Short Interest Down 7.8% in July

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) was the recipient of a significant drop in short interest in July. As of July 31st, there was short interest totalling 5,710,000 shares, a drop of 7.8% from the July 15th total of 6,190,000 shares. Currently, 5.5% of the shares of the stock are short sold. Based on an average trading volume of 4,050,000 shares, the days-to-cover ratio is presently 1.4 days.

Institutional Trading of HIVE Digital Technologies

Several institutional investors and hedge funds have recently bought and sold shares of HIVE. Chesapeake Capital Corp IL bought a new position in shares of HIVE Digital Technologies in the 4th quarter worth approximately $92,000. Van ECK Associates Corp grew its stake in HIVE Digital Technologies by 39.8% in the fourth 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 during the period. Scotia Capital Inc. bought a new position in HIVE Digital Technologies in the fourth quarter worth $64,000. Quadrature Capital Ltd purchased a new position in HIVE Digital Technologies during the fourth quarter valued at $458,000. Finally, Atria Wealth Solutions Inc. bought a new stake in shares of HIVE Digital Technologies during the 4th quarter valued at $45,000. 24.42% of the stock is currently owned by hedge funds and other institutional investors.

HIVE Digital Technologies Stock Up 0.7 %

NASDAQ HIVE opened at $3.07 on Tuesday. HIVE Digital Technologies has a 1 year low of $2.18 and a 1 year high of $5.74. The stock has a market capitalization of $361.39 million, a PE ratio of -5.20 and a beta of 3.52. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.77 and a quick ratio of 6.77. The business’s 50-day moving average is $3.31 and its 200 day moving average is $3.17.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its quarterly earnings data on Monday, June 24th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.10. The firm had revenue of $36.88 million for the quarter, compared to analyst estimates of $39.70 million. HIVE Digital Technologies had a negative return on equity of 28.52% and a negative net margin of 44.73%. Sell-side analysts forecast that HIVE Digital Technologies will post -0.36 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on HIVE shares. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $6.00 price objective on shares of HIVE Digital Technologies in a research note on Wednesday, June 26th. HC Wainwright upgraded shares of HIVE Digital Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $4.00 to $5.00 in a research report on Thursday, August 15th. B. Riley began coverage on HIVE Digital Technologies in a report on Friday, July 19th. They issued a “buy” rating and a $6.00 price objective on the stock. Finally, StockNews.com upgraded HIVE Digital Technologies to a “sell” rating in a report on Sunday, June 9th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat, HIVE Digital Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.75.

About HIVE Digital Technologies

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.