HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Stock Holdings Lessened by MMCAP International Inc. SPC

MMCAP International Inc. SPC lowered its stake in HIVE Digital Technologies Ltd. (NASDAQ:HIVE) by 4.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,392,564 shares of the company’s stock after selling 100,000 shares during the period. HIVE Digital Technologies accounts for approximately 1.1% of MMCAP International Inc. SPC’s holdings, making the stock its 26th biggest position. MMCAP International Inc. SPC’s holdings in HIVE Digital Technologies were worth $6,819,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of HIVE. Lifeworks Advisors LLC bought a new position in shares of HIVE Digital Technologies in the third quarter valued at $35,000. Gladstone Institutional Advisory LLC bought a new position in shares of HIVE Digital Technologies in the third quarter valued at $44,000. Quadrature Capital Ltd bought a new position in shares of HIVE Digital Technologies in the third quarter valued at $50,000. Tobam increased its holdings in shares of HIVE Digital Technologies by 198.6% in the fourth quarter. Tobam now owns 19,060 shares of the company’s stock valued at $54,000 after buying an additional 12,676 shares in the last quarter. Finally, Wellington Management Group LLP bought a new position in shares of HIVE Digital Technologies in the third quarter valued at $120,000. Institutional investors own 24.42% of the company’s stock.

HIVE Digital Technologies Trading Down 8.4 %

HIVE Digital Technologies stock opened at $2.18 on Wednesday. The company’s fifty day simple moving average is $2.95 and its 200-day simple moving average is $3.34. The company has a quick ratio of 10.41, a current ratio of 10.41 and a debt-to-equity ratio of 0.03. HIVE Digital Technologies Ltd. has a 12 month low of $2.14 and a 12 month high of $5.54. The stock has a market cap of $341.41 million, a P/E ratio of -43.60 and a beta of 3.46.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.06) EPS 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%. As a group, sell-side analysts forecast that HIVE Digital Technologies Ltd. will post -0.32 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Canaccord Genuity Group upped their price target on HIVE Digital Technologies from $8.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Roth Mkm initiated coverage on shares of HIVE Digital Technologies in a research report on Thursday, December 19th. They set a “buy” rating and a $7.50 price objective on the stock. Keefe, Bruyette & Woods initiated coverage on shares of HIVE Digital Technologies in a research report on Wednesday, January 8th. They set an “outperform” rating on the stock. HC Wainwright reiterated a “buy” rating and set a $10.00 price objective (up from $8.00) on shares of HIVE Digital Technologies in a research report on Thursday, February 13th. Finally, Roth Capital upgraded shares of HIVE Digital Technologies to a “strong-buy” rating in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, HIVE Digital Technologies currently has an average rating of “Buy” and a consensus price target of $8.08.

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.