Generali Investments CEE investicni spolecnost a.s. Grows Stock Position in HIVE Digital Technologies Ltd. $HIVE

Key Points

• Generali Investments CEE increased its stake in HIVE Digital Technologies by 45.4% in Q2, acquiring an additional 388,280 shares, bringing their total ownership to approximately $2.24 million.
• Several hedge funds, including Caitong International Asset Management, made significant adjustments to their HIVE holdings, indicating growing institutional interest in the cryptocurrency mining company.
• According to brokerages, HIVE Digital Technologies has mostly received positive ratings, with eight analysts rating it as a buy and a consensus target price of $6.93.

Generali Investments CEE investicni spolecnost a.s. raised its holdings in HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Free Report) by 45.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,244,230 shares of the company's stock after buying an additional 388,280 shares during the quarter. Generali Investments CEE investicni spolecnost a.s. owned about 0.58% of HIVE Digital Technologies worth $2,240,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HIVE. Y Intercept Hong Kong Ltd purchased a new stake in HIVE Digital Technologies in the first quarter valued at about $31,000. Zhang Financial LLC purchased a new stake in HIVE Digital Technologies in the first quarter valued at about $33,000. Caitong International Asset Management Co. Ltd raised its stake in HIVE Digital Technologies by 3,966.3% in the first quarter. Caitong International Asset Management Co. Ltd now owns 24,845 shares of the company's stock valued at $36,000 after buying an additional 24,234 shares during the last quarter. SBI Securities Co. Ltd. increased its holdings in shares of HIVE Digital Technologies by 30.9% in the first quarter. SBI Securities Co. Ltd. now owns 31,950 shares of the company's stock valued at $46,000 after purchasing an additional 7,535 shares during the period. Finally, Baader Bank Aktiengesellschaft acquired a new position in shares of HIVE Digital Technologies in the first quarter valued at about $51,000. 24.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on HIVE. Canaccord Genuity Group increased their price objective on HIVE Digital Technologies from $9.00 to $10.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Wall Street Zen raised HIVE Digital Technologies from a "strong sell" rating to a "hold" rating in a report on Saturday, August 16th. HC Wainwright cut their price objective on HIVE Digital Technologies from $9.00 to $6.00 and set a "buy" rating on the stock in a report on Friday, June 27th. Cantor Fitzgerald increased their price objective on HIVE Digital Technologies from $5.00 to $5.50 and gave the company an "overweight" rating in a report on Friday, June 27th. Finally, Roth Capital raised their target price on HIVE Digital Technologies from $6.00 to $7.50 and gave the stock a "buy" rating in a report on Tuesday, August 26th. Eight equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, HIVE Digital Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $6.93.

HIVE Digital Technologies Stock Performance

Shares of HIVE stock opened at $4.03 on Wednesday. The company has a market capitalization of $948.90 million, a P/E ratio of -20.15 and a beta of 3.45. The business's 50 day moving average is $2.83 and its two-hundred day moving average is $2.17. The company has a current ratio of 3.42, a quick ratio of 3.42 and a debt-to-equity ratio of 0.02. HIVE Digital Technologies Ltd. has a 12-month low of $1.26 and a 12-month high of $5.54.

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

HIVE Digital Technologies 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.

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