HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Shares Acquired by State Street Corp

State Street Corp lifted its stake in HIVE Digital Technologies Ltd. (NASDAQ:HIVE) by 2.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,214,101 shares of the company’s stock after buying an additional 91,056 shares during the quarter. State Street Corp owned approximately 2.53% of HIVE Digital Technologies worth $10,060,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Van ECK Associates Corp boosted its position in HIVE Digital Technologies by 35.4% in the 2nd quarter. Van ECK Associates Corp now owns 3,894,605 shares of the company’s stock worth $11,995,000 after purchasing an additional 1,018,231 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of HIVE Digital Technologies by 48.4% in the 3rd 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 period. Centiva Capital LP purchased a new stake in HIVE Digital Technologies during the third quarter worth $235,000. Impact Partnership Wealth LLC grew its position in HIVE Digital Technologies by 202.4% during the second quarter. Impact Partnership Wealth LLC now owns 48,945 shares of the company’s stock valued at $151,000 after buying an additional 32,760 shares during the period. Finally, Quadrature Capital Ltd purchased a new position in HIVE Digital Technologies in the third quarter valued at $50,000. 24.42% of the stock is owned by institutional investors and hedge funds.

HIVE Digital Technologies Price Performance

Shares of NASDAQ HIVE opened at $3.03 on Friday. The stock has a market capitalization of $416.02 million, a price-to-earnings ratio of -21.64 and a beta of 3.39. HIVE Digital Technologies Ltd. has a 52 week low of $2.18 and a 52 week high of $5.74. The firm has a 50-day simple moving average of $3.95 and a 200-day simple moving average of $3.47. The company has a quick ratio of 5.56, a current ratio of 5.56 and a debt-to-equity ratio of 0.06.

HIVE Digital Technologies (NASDAQ:HIVE) last released 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 for the quarter, compared to analyst estimates of $25.32 million. HIVE Digital Technologies had a negative net margin of 12.04% and a negative return on equity of 10.78%. During the same period last year, the company posted ($0.29) EPS. On average, equities analysts predict that HIVE Digital Technologies Ltd. will post -0.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

HIVE has been the subject of several recent analyst reports. Roth Mkm began coverage on HIVE Digital Technologies in a research note on Thursday, December 19th. They issued a “buy” rating and a $7.50 price target for the company. Northland Securities boosted their price objective on HIVE Digital Technologies from $5.50 to $7.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. HC Wainwright reissued a “buy” rating and issued a $8.00 price target on shares of HIVE Digital Technologies in a research note on Tuesday, December 3rd. Roth Capital upgraded shares of HIVE Digital Technologies to a “strong-buy” rating in a research report on Wednesday, December 18th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $9.00 target price on shares of HIVE Digital Technologies in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, HIVE Digital Technologies presently has a consensus rating of “Buy” and an average target price of $7.42.

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.