Tidal Investments LLC Grows Stake in HIVE Digital Technologies Ltd. (NASDAQ:HIVE)

Tidal Investments LLC raised its holdings in shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) by 5.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,210,339 shares of the company’s stock after buying an additional 200,024 shares during the period. Tidal Investments LLC’s holdings in HIVE Digital Technologies were worth $11,999,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of HIVE. Cubist Systematic Strategies LLC boosted its position in shares of HIVE Digital Technologies by 332.8% during the fourth quarter. Cubist Systematic Strategies LLC now owns 962,677 shares of the company’s stock valued at $2,744,000 after buying an additional 740,247 shares during the period. Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of HIVE Digital Technologies during the fourth quarter valued at approximately $2,058,000. Van ECK Associates Corp boosted its position in shares of HIVE Digital Technologies by 17.9% during the fourth quarter. Van ECK Associates Corp now owns 4,562,489 shares of the company’s stock valued at $13,003,000 after buying an additional 692,799 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of HIVE Digital Technologies by 126.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 736,287 shares of the company’s stock valued at $2,098,000 after buying an additional 411,071 shares during the period. Finally, Man Group plc purchased a new position in shares of HIVE Digital Technologies during the fourth quarter valued at approximately $1,118,000. Hedge funds and other institutional investors own 24.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. HC Wainwright restated a “buy” rating and set a $10.00 target price (up previously from $8.00) on shares of HIVE Digital Technologies in a research report on Thursday, February 13th. Rosenblatt Securities started coverage on HIVE Digital Technologies in a research report on Friday, March 7th. They set a “buy” rating and a $6.00 target price for the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $9.00 price target on shares of HIVE Digital Technologies in a report on Wednesday, March 26th. StockNews.com upgraded HIVE Digital Technologies to a “sell” rating in a report on Saturday. Finally, Cantor Fitzgerald lowered their price target on HIVE Digital Technologies from $10.00 to $8.00 and set an “overweight” rating for the company in a report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, HIVE Digital Technologies presently has a consensus rating of “Buy” and a consensus price target of $7.64.

HIVE Digital Technologies Stock Performance

Shares of NASDAQ:HIVE opened at $2.07 on Monday. The company has a market capitalization of $366.56 million, a price-to-earnings ratio of -41.40 and a beta of 3.52. HIVE Digital Technologies Ltd. has a 52 week low of $1.26 and a 52 week high of $5.54. The company has a quick ratio of 10.41, a current ratio of 10.41 and a debt-to-equity ratio of 0.03. The firm has a 50 day moving average of $1.65 and a 200 day moving average of $2.70.

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.