Geode Capital Management LLC Sells 6,280 Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE)

Geode Capital Management LLC lessened its stake in shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) by 0.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 703,605 shares of the company’s stock after selling 6,280 shares during the quarter. Geode Capital Management LLC owned approximately 0.55% of HIVE Digital Technologies worth $2,202,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. XTX Topco Ltd acquired a new stake in shares of HIVE Digital Technologies during the 3rd quarter valued at $463,000. Charles Schwab Investment Management Inc. raised its position in HIVE Digital Technologies by 48.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 325,216 shares of the company’s stock valued at $1,018,000 after purchasing an additional 106,103 shares during the last quarter. State Street Corp boosted its stake in shares of HIVE Digital Technologies by 2.9% during the third quarter. State Street Corp now owns 3,214,101 shares of the company’s stock valued at $10,060,000 after purchasing an additional 91,056 shares in the last quarter. Centiva Capital LP bought a new stake in shares of HIVE Digital Technologies during the third quarter worth about $235,000. Finally, Wellington Management Group LLP acquired a new position in shares of HIVE Digital Technologies in the third quarter valued at approximately $120,000. 24.42% of the stock is currently owned by institutional investors and hedge funds.

HIVE Digital Technologies Stock Performance

Shares of HIVE Digital Technologies stock opened at $3.13 on Wednesday. The company has a market cap of $438.79 million, a P/E ratio of -22.36 and a beta of 3.46. The company has a current ratio of 5.56, a quick ratio of 5.56 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average price of $3.82 and a two-hundred day moving average price of $3.47. HIVE Digital Technologies Ltd. has a 1-year low of $2.18 and a 1-year high of $5.54.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. The business had revenue of $22.65 million during the quarter, compared to the consensus estimate of $25.32 million. HIVE Digital Technologies had a negative return on equity of 10.78% and a negative net margin of 12.04%. During the same period in the previous year, the company posted ($0.29) earnings per share. As a group, analysts anticipate that HIVE Digital Technologies Ltd. will post -0.33 EPS for the current year.

Wall Street Analyst Weigh In

HIVE has been the topic of several recent research reports. Canaccord Genuity Group lifted their target price on shares of HIVE Digital Technologies from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Roth Mkm started coverage on shares of HIVE Digital Technologies in a report on Thursday, December 19th. They set a “buy” rating and a $7.50 price target on the stock. HC Wainwright restated a “buy” rating and issued a $8.00 price objective on shares of HIVE Digital Technologies in a report on Tuesday, December 3rd. Northland Capmk raised HIVE Digital Technologies to a “strong-buy” rating in a report on Thursday, September 19th. Finally, Roth Capital raised HIVE Digital Technologies to a “strong-buy” rating in a research note on Wednesday, December 18th. One analyst has rated the stock with a sell rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $7.42.

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.