Tidal Investments LLC Raises Stock Position in HIVE Digital Technologies Ltd. (NASDAQ:HIVE)

Tidal Investments LLC increased its stake in HIVE Digital Technologies Ltd. (NASDAQ:HIVE) by 5.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,210,339 shares of the company’s stock after purchasing an additional 200,024 shares during the quarter. Tidal Investments LLC owned 2.84% of HIVE Digital Technologies worth $11,999,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its holdings in HIVE Digital Technologies by 17.9% in the fourth quarter. Van ECK Associates Corp now owns 4,562,489 shares of the company’s stock worth $13,003,000 after purchasing an additional 692,799 shares during the last quarter. Cubist Systematic Strategies LLC boosted its stake in shares of HIVE Digital Technologies by 332.8% during the 4th quarter. Cubist Systematic Strategies LLC now owns 962,677 shares of the company’s stock worth $2,744,000 after acquiring an additional 740,247 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of HIVE Digital Technologies by 126.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 736,287 shares of the company’s stock worth $2,098,000 after acquiring an additional 411,071 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of HIVE Digital Technologies during the 4th quarter worth $2,058,000. Finally, Man Group plc purchased a new position in shares of HIVE Digital Technologies during the 4th quarter worth $1,118,000. Hedge funds and other institutional investors own 24.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. StockNews.com upgraded shares of HIVE Digital Technologies to a “sell” rating in a research note on Saturday. HC Wainwright reiterated a “buy” rating and issued a $10.00 price target (up previously from $8.00) on shares of HIVE Digital Technologies in a research note on Thursday, February 13th. Cantor Fitzgerald cut their price target on HIVE Digital Technologies from $10.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, March 11th. Rosenblatt Securities assumed coverage on HIVE Digital Technologies in a research note on Friday, March 7th. They issued a “buy” rating and a $6.00 price target for the company. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $9.00 price target on shares of HIVE Digital Technologies in a research note on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $7.64.

HIVE Digital Technologies Stock Up 12.5%

Shares of NASDAQ:HIVE opened at $2.07 on Monday. The company has a market cap of $366.56 million, a price-to-earnings ratio of -41.40 and a beta of 3.52. HIVE Digital Technologies Ltd. has a 12 month low of $1.26 and a 12 month high of $5.54. The company has a current ratio of 10.41, a quick ratio of 10.41 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $1.65 and a 200 day moving average price of $2.70.

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.