Goldman Sachs Group Inc. Boosts Stock Position in HIVE Digital Technologies Ltd. $HIVE

Key Points

• Goldman Sachs Group Inc. significantly increased its stake in HIVE Digital Technologies by 328.2% in Q1, owning a total of 520,877 shares valued at approximately $755,000.
• Multiple hedge funds, including Charles Schwab and MIRAE ASSET GLOBAL, also boosted their positions in HIVE, indicating strong institutional interest in the company.
• Analysts have mixed opinions on HIVE's future, with price targets ranging from $5.50 to $10.00, reflecting a consensus rating of "Moderate Buy" for the stock.

Goldman Sachs Group Inc. grew its holdings in shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Free Report) by 328.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 520,877 shares of the company's stock after buying an additional 399,223 shares during the quarter. Goldman Sachs Group Inc. owned 0.26% of HIVE Digital Technologies worth $755,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in HIVE. Charles Schwab Investment Management Inc. raised its holdings in HIVE Digital Technologies by 87.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,383,446 shares of the company's stock valued at $2,006,000 after acquiring an additional 647,159 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of HIVE Digital Technologies by 18.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 878,457 shares of the company's stock worth $1,283,000 after purchasing an additional 137,651 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. raised its stake in shares of HIVE Digital Technologies by 18.5% in the 1st quarter. Generali Investments CEE investicni spolecnost a.s. now owns 855,950 shares of the company's stock valued at $1,241,000 after purchasing an additional 133,840 shares in the last quarter. Phoenix Financial Ltd. raised its stake in shares of HIVE Digital Technologies by 81.3% in the 1st quarter. Phoenix Financial Ltd. now owns 208,904 shares of the company's stock valued at $304,000 after purchasing an additional 93,704 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of HIVE Digital Technologies by 42.0% during the first quarter. Invesco Ltd. now owns 143,541 shares of the company's stock worth $208,000 after purchasing an additional 42,449 shares during the last quarter. Institutional investors and hedge funds own 24.42% of the company's stock.

Analyst Ratings Changes

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

HIVE Digital Technologies Trading Down 2.4%

Shares of NASDAQ:HIVE opened at $3.73 on Wednesday. The company has a 50 day moving average of $2.68 and a 200-day moving average of $2.10. The company has a current ratio of 3.42, a quick ratio of 3.42 and a debt-to-equity ratio of 0.02. The firm has a market cap of $869.09 million, a P/E ratio of -18.65 and a beta of 3.45. HIVE Digital Technologies Ltd. has a twelve month low of $1.26 and a twelve month high of $5.54.

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