HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Short Interest Down 28.2% in October

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) saw a large decrease in short interest during the month of October. As of October 15th, there was short interest totaling 10,840,000 shares, a decrease of 28.2% from the September 30th total of 15,090,000 shares. Based on an average daily volume of 31,880,000 shares, the short-interest ratio is presently 0.3 days. Currently, 4.7% of the company’s stock are short sold. Currently, 4.7% of the company’s stock are short sold. Based on an average daily volume of 31,880,000 shares, the short-interest ratio is presently 0.3 days.

Hedge Funds Weigh In On HIVE Digital Technologies

Institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. raised its position in HIVE Digital Technologies by 87.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,383,446 shares of the company’s stock worth $2,006,000 after buying an additional 647,159 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. raised its position in HIVE Digital Technologies by 45.4% during the 2nd quarter. Generali Investments CEE investicni spolecnost a.s. now owns 1,244,230 shares of the company’s stock worth $2,240,000 after buying an additional 388,280 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new position in HIVE Digital Technologies during the 2nd quarter worth $139,000. Goldman Sachs Group Inc. raised its position in HIVE Digital Technologies by 328.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 520,877 shares of the company’s stock worth $755,000 after buying an additional 399,223 shares during the last quarter. Finally, Invesco Ltd. raised its position in HIVE Digital Technologies by 42.0% during the 1st quarter. Invesco Ltd. now owns 143,541 shares of the company’s stock worth $208,000 after buying an additional 42,449 shares during the last quarter. 24.42% of the stock is owned by institutional investors and hedge funds.

HIVE Digital Technologies Stock Performance

Shares of HIVE Digital Technologies stock opened at $4.93 on Wednesday. The firm’s fifty day simple moving average is $4.53 and its 200-day simple moving average is $2.91. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -24.65 and a beta of 3.54. HIVE Digital Technologies has a 12 month low of $1.26 and a 12 month high of $7.84. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.42 and a quick ratio of 3.42.

HIVE Digital Technologies (NASDAQ:HIVE) last announced its earnings results on Thursday, August 14th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The business had revenue of $45.61 million for the quarter, compared to analysts’ expectations of $45.16 million. HIVE Digital Technologies had a negative net margin of 17.47% and a negative return on equity of 17.39%. As a group, equities analysts forecast that HIVE Digital Technologies will post -0.32 earnings per share for the current year.

Wall Street Analyst Weigh In

HIVE has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of HIVE Digital Technologies from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 16th. Weiss Ratings reissued a “sell (d+)” rating on shares of HIVE Digital Technologies in a research report on Friday, October 31st. Canaccord Genuity Group reissued a “buy” rating and issued a $10.00 price objective on shares of HIVE Digital Technologies in a research report on Monday, October 13th. B. Riley reissued a “buy” rating on shares of HIVE Digital Technologies in a report on Wednesday, October 22nd. Finally, Northland Securities set a $7.50 price objective on shares of HIVE Digital Technologies in a report on Tuesday, October 7th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $8.00.

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.