Van ECK Associates Corp Acquires 1,032,672 Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE)

Van ECK Associates Corp raised its holdings in HIVE Digital Technologies Ltd. (NASDAQ:HIVE) by 56.0% in the first quarter, HoldingsChannel.com reports. The firm owned 2,876,374 shares of the company’s stock after purchasing an additional 1,032,672 shares during the quarter. Van ECK Associates Corp’s holdings in HIVE Digital Technologies were worth $9,693,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of HIVE. Invesco Ltd. boosted its holdings in HIVE Digital Technologies by 2.8% in the 3rd quarter. Invesco Ltd. now owns 2,918,364 shares of the company’s stock valued at $8,989,000 after purchasing an additional 80,788 shares during the period. Global Strategic Investment Solutions LLC bought a new stake in HIVE Digital Technologies in the 4th quarter valued at about $113,000. Mirae Asset Global Investments Co. Ltd. lifted 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 worth $4,133,000 after acquiring an additional 54,615 shares during the period. Atria Wealth Solutions Inc. bought a new stake in shares of HIVE Digital Technologies during the 4th quarter worth approximately $45,000. Finally, Baader Bank Aktiengesellschaft bought a new stake in shares of HIVE Digital Technologies during the 4th quarter worth approximately $100,000. Institutional investors own 24.42% of the company’s stock.

Analysts Set New Price Targets

HIVE has been the subject of a number of recent analyst reports. StockNews.com raised shares of HIVE Digital Technologies to a “sell” rating in a report on Sunday, June 9th. HC Wainwright reaffirmed a “neutral” rating and set a $3.50 price target on shares of HIVE Digital Technologies in a report on Wednesday, June 26th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $6.00 price target on shares of HIVE Digital Technologies in a report on Wednesday, June 26th.

HIVE Digital Technologies Price Performance

HIVE stock traded up $0.19 during trading on Friday, reaching $3.24. 5,451,842 shares of the company were exchanged, compared to its average volume of 3,174,750. The company has a 50-day moving average of $2.77 and a two-hundred day moving average of $3.31. The company has a market capitalization of $379.34 million, a price-to-earnings ratio of -5.53 and a beta of 3.51. HIVE Digital Technologies Ltd. has a twelve month low of $2.18 and a twelve month high of $6.84. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.77 and a quick ratio of 6.77.

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

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.