Tobam Purchases 52,880 Shares of HIVE Digital Technologies Ltd. $HIVE

Tobam increased its position in HIVE Digital Technologies Ltd. (NASDAQ:HIVE) by 428.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 65,234 shares of the company’s stock after acquiring an additional 52,880 shares during the quarter. Tobam’s holdings in HIVE Digital Technologies were worth $117,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Y Intercept Hong Kong Ltd bought a new position in shares of HIVE Digital Technologies in the first quarter worth $31,000. Caitong International Asset Management Co. Ltd boosted its stake in HIVE Digital Technologies by 3,966.3% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 24,845 shares of the company’s stock worth $36,000 after purchasing an additional 24,234 shares during the period. Ethos Financial Group LLC purchased a new position in HIVE Digital Technologies during the 2nd quarter valued at about $36,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of HIVE Digital Technologies during the second quarter valued at about $38,000. Finally, SBI Securities Co. Ltd. increased its position in shares of HIVE Digital Technologies by 30.9% during the first quarter. SBI Securities Co. Ltd. now owns 31,950 shares of the company’s stock valued at $46,000 after buying an additional 7,535 shares during the period. Hedge funds and other institutional investors own 24.42% of the company’s stock.

HIVE Digital Technologies Stock Performance

Shares of HIVE Digital Technologies stock opened at $4.10 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.42 and a quick ratio of 3.42. The stock has a market cap of $974.61 million, a price-to-earnings ratio of -20.50 and a beta of 3.54. HIVE Digital Technologies Ltd. has a 1 year low of $1.26 and a 1 year high of $7.84. The firm’s 50-day moving average is $4.74 and its 200 day moving average is $3.03.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its quarterly 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 firm 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%. Sell-side analysts anticipate that HIVE Digital Technologies Ltd. will post -0.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $10.00 price objective on shares of HIVE Digital Technologies in a research note on Monday, October 13th. Rosenblatt Securities lifted their price objective on HIVE Digital Technologies from $5.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Northland Securities set a $7.50 target price on HIVE Digital Technologies in a research note on Tuesday, October 7th. Wall Street Zen upgraded HIVE Digital Technologies from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 16th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of HIVE Digital Technologies in a research note on Friday, October 31st. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, HIVE Digital Technologies has an average rating of “Moderate Buy” and a consensus price target 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.