Van ECK Associates Corp Grows Stake in HIVE Digital Technologies Ltd. (NASDAQ:HIVE)

Van ECK Associates Corp lifted its position in shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) by 17.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,562,489 shares of the company’s stock after buying an additional 692,799 shares during the quarter. Van ECK Associates Corp owned approximately 3.16% of HIVE Digital Technologies worth $13,003,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Gladstone Institutional Advisory LLC grew its holdings in HIVE Digital Technologies by 114.1% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 30,025 shares of the company’s stock worth $86,000 after acquiring an additional 16,000 shares in the last quarter. Tobam increased its holdings in HIVE Digital Technologies by 198.6% during the fourth quarter. Tobam now owns 19,060 shares of the company’s stock valued at $54,000 after buying an additional 12,676 shares during the period. Impact Partnership Wealth LLC raised its stake in HIVE Digital Technologies by 11.0% in the fourth quarter. Impact Partnership Wealth LLC now owns 53,231 shares of the company’s stock worth $152,000 after buying an additional 5,277 shares in the last quarter. Virtu Financial LLC boosted its position in HIVE Digital Technologies by 527.9% during the 3rd quarter. Virtu Financial LLC now owns 71,990 shares of the company’s stock valued at $225,000 after acquiring an additional 60,524 shares in the last quarter. Finally, Toronto Dominion Bank increased its holdings in shares of HIVE Digital Technologies by 86,334.5% in the 3rd quarter. Toronto Dominion Bank now owns 50,132 shares of the company’s stock valued at $157,000 after acquiring an additional 50,074 shares during the period. Institutional investors own 24.42% of the company’s stock.

HIVE Digital Technologies Price Performance

Shares of HIVE opened at $2.85 on Friday. The company’s fifty day moving average price is $3.14 and its 200-day moving average price is $3.36. HIVE Digital Technologies Ltd. has a 1-year low of $2.18 and a 1-year high of $5.54. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.56 and a quick ratio of 5.56. The firm has a market capitalization of $422.00 million, a PE ratio of -20.36 and a beta of 3.46.

HIVE Digital Technologies (NASDAQ:HIVE) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.05. HIVE Digital Technologies had a negative net margin of 12.04% and a negative return on equity of 10.78%. On average, equities research analysts predict that HIVE Digital Technologies Ltd. will post -0.34 EPS for the current year.

Analyst Upgrades and Downgrades

HIVE has been the topic of a number of recent research reports. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective (up previously from $8.00) on shares of HIVE Digital Technologies in a research report on Thursday. Roth Capital upgraded shares of HIVE Digital Technologies to a “strong-buy” rating in a report on Wednesday, December 18th. Cantor Fitzgerald reiterated an “overweight” rating and set a $9.00 price objective on shares of HIVE Digital Technologies in a research note on Tuesday, November 19th. Roth Mkm initiated coverage on shares of HIVE Digital Technologies in a research note on Thursday, December 19th. They issued a “buy” rating and a $7.50 target price for the company. Finally, StockNews.com raised shares of HIVE Digital Technologies to a “sell” rating in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $8.08.

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.