Tobam Boosts Position in HIVE Digital Technologies Ltd. $HIVE

Tobam lifted its holdings in HIVE Digital Technologies Ltd. (NASDAQ:HIVE) by 428.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 65,234 shares of the company’s stock after purchasing an additional 52,880 shares during the period. Tobam’s holdings in HIVE Digital Technologies were worth $117,000 at the end of the most recent reporting period.

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

HIVE Digital Technologies Stock Down 11.3%

NASDAQ HIVE opened at $4.10 on Thursday. The stock has a 50 day moving average price of $4.74 and a 200-day moving average price of $3.03. HIVE Digital Technologies Ltd. has a one year low of $1.26 and a one year high of $7.84. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.42 and a current ratio of 3.42. The company has a market capitalization of $974.61 million, a P/E ratio of -20.50 and a beta of 3.54.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. HIVE Digital Technologies had a negative net margin of 17.47% and a negative return on equity of 17.39%. The company had revenue of $45.61 million for the quarter, compared to the consensus estimate of $45.16 million. As a group, equities analysts predict that HIVE Digital Technologies Ltd. will post -0.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on HIVE. Roth Capital lifted their target price on HIVE Digital Technologies from $6.00 to $7.50 and gave the company a “buy” rating in a research report on Tuesday, August 26th. Canaccord Genuity Group reiterated a “buy” rating and issued a $10.00 price target on shares of HIVE Digital Technologies in a research report on Monday, October 13th. Zacks Research upgraded shares of HIVE Digital Technologies to a “hold” rating in a research report on Friday, August 8th. B. Riley reiterated a “buy” rating on shares of HIVE Digital Technologies in a research note on Wednesday, October 22nd. Finally, Rosenblatt Securities boosted their price objective on HIVE Digital Technologies from $5.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.