Charles Schwab Investment Management Inc. Raises Position in HIVE Digital Technologies Ltd. $HIVE

Key Points

• Charles Schwab Investment Management Inc. significantly increased its stake in HIVE Digital Technologies by 87.9%, reaching ownership of 1,383,446 shares valued at approximately $2,006,000.
• Analysts have a consensus rating of "Buy" for HIVE, with target price estimates ranging from $5.00 to $10.00.
• HIVE Digital Technologies reported a revenue of $45.61 million for the last quarter, surpassing analyst expectations, and beat earnings estimates with a loss of ($0.06) per share compared to the anticipated ($0.08).

Charles Schwab Investment Management Inc. lifted its position in shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Free Report) by 87.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,383,446 shares of the company's stock after purchasing an additional 647,159 shares during the period. Charles Schwab Investment Management Inc. owned 0.81% of HIVE Digital Technologies worth $2,006,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of HIVE. Point72 Asia Singapore Pte. Ltd. purchased a new stake in HIVE Digital Technologies in the fourth quarter worth about $26,000. Y Intercept Hong Kong Ltd purchased a new stake in HIVE Digital Technologies in the first quarter worth about $31,000. Zhang Financial LLC purchased a new stake in HIVE Digital Technologies in the first quarter worth about $33,000. Wells Fargo & Company MN lifted its holdings in HIVE Digital Technologies by 60.9% in the fourth quarter. Wells Fargo & Company MN now owns 15,320 shares of the company's stock worth $44,000 after buying an additional 5,800 shares during the period. Finally, SBI Securities Co. Ltd. lifted its holdings in HIVE Digital Technologies by 30.9% in the first quarter. SBI Securities Co. Ltd. now owns 31,950 shares of the company's stock worth $46,000 after buying an additional 7,535 shares during the period. 24.42% of the stock is currently owned by hedge funds and other institutional investors.

HIVE Digital Technologies Stock Down 5.4%

Shares of HIVE traded down $0.16 on Thursday, hitting $2.73. 11,318,832 shares of the stock traded hands, compared to its average volume of 15,068,622. The company has a market capitalization of $627.51 million, a PE ratio of -13.67 and a beta of 3.45. 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 business has a 50 day simple moving average of $2.32 and a 200 day simple moving average of $1.99. HIVE Digital Technologies Ltd. has a one year low of $1.26 and a one year high of $5.54.

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

Analyst Ratings Changes

Several analysts have commented on HIVE shares. HC Wainwright lowered their price objective on shares of HIVE Digital Technologies from $9.00 to $6.00 and set a "buy" rating for the company in a report on Friday, June 27th. Cantor Fitzgerald raised their price objective on shares of HIVE Digital Technologies from $5.00 to $5.50 and gave the stock an "overweight" rating in a report on Friday, June 27th. Roth Capital raised their price objective on shares of HIVE Digital Technologies from $6.00 to $7.50 and gave the stock a "buy" rating in a report on Tuesday, August 26th. Canaccord Genuity Group raised their target price on shares of HIVE Digital Technologies from $9.00 to $10.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Finally, Zacks Research raised shares of HIVE Digital Technologies to a "hold" rating in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $6.93.

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.