HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Short Interest Update

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) was the target of a large increase in short interest in July. As of July 15th, there was short interest totalling 6,190,000 shares, an increase of 13.4% from the June 30th total of 5,460,000 shares. Based on an average daily trading volume, of 3,760,000 shares, the short-interest ratio is currently 1.6 days. Approximately 6.0% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HIVE. HC Wainwright increased their target price on HIVE Digital Technologies from $3.50 to $4.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. StockNews.com raised HIVE Digital Technologies to a “sell” rating in a research note on Sunday, June 9th. Canaccord Genuity Group reissued a “buy” rating and set a $6.00 target price on shares of HIVE Digital Technologies in a research note on Wednesday, June 26th. Finally, B. Riley started coverage on HIVE Digital Technologies in a research note on Friday, July 19th. They set a “buy” rating and a $6.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $5.50.

HIVE Digital Technologies Price Performance

NASDAQ HIVE traded up $0.05 during mid-day trading on Wednesday, hitting $3.63. The stock had a trading volume of 6,442,565 shares, compared to its average volume of 3,384,861. HIVE Digital Technologies has a 52-week low of $2.18 and a 52-week high of $5.74. The company has a market cap of $427.31 million, a price-to-earnings ratio of -6.15 and a beta of 3.51. The company has a 50 day simple moving average of $3.25 and a 200 day simple moving average of $3.20. The company has a quick ratio of 6.77, a current ratio of 6.77 and a debt-to-equity ratio of 0.07.

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

Hedge Funds Weigh In On HIVE Digital Technologies

Hedge funds have recently bought and sold shares of the stock. Atria Wealth Solutions Inc. purchased a new position in HIVE Digital Technologies during the fourth quarter worth $45,000. Sloy Dahl & Holst LLC purchased a new position in HIVE Digital Technologies during the first quarter worth $41,000. Scotia Capital Inc. purchased a new position in HIVE Digital Technologies during the fourth quarter worth $64,000. Chesapeake Capital Corp IL acquired a new stake in shares of HIVE Digital Technologies during the fourth quarter worth $92,000. Finally, Baader Bank Aktiengesellschaft acquired a new stake in shares of HIVE Digital Technologies during the fourth quarter worth $100,000. Hedge funds and other institutional investors own 24.42% of the company’s stock.

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.