Charles Schwab Investment Management Inc. Boosts Holdings 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. grew its position in 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 SEC. The firm owned 1,383,446 shares of the company's stock after acquiring an additional 647,159 shares during the period. Charles Schwab Investment Management Inc. owned about 0.81% of HIVE Digital Technologies worth $2,006,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of HIVE Digital Technologies during the 4th quarter worth about $26,000. Y Intercept Hong Kong Ltd acquired a new position in shares of HIVE Digital Technologies during the 1st quarter worth about $31,000. Zhang Financial LLC acquired a new position in shares of HIVE Digital Technologies during the 1st quarter worth about $33,000. Wells Fargo & Company MN raised its position in shares of HIVE Digital Technologies by 60.9% during the 4th quarter. Wells Fargo & Company MN now owns 15,320 shares of the company's stock worth $44,000 after purchasing an additional 5,800 shares during the last quarter. Finally, SBI Securities Co. Ltd. raised its position in shares of HIVE Digital Technologies by 30.9% during 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 during the last quarter. Institutional investors and hedge funds own 24.42% of the company's stock.

HIVE Digital Technologies Trading Down 1.8%

Shares of HIVE Digital Technologies stock traded down $0.05 during mid-day trading on Friday, hitting $2.66. The stock had a trading volume of 13,046,476 shares, compared to its average volume of 17,572,456. The firm has a 50-day moving average of $2.35 and a two-hundred day moving average of $1.99. HIVE Digital Technologies Ltd. has a 12-month low of $1.26 and a 12-month high of $5.54. The company has a quick ratio of 3.42, a current ratio of 3.42 and a debt-to-equity ratio of 0.02. The firm has a market cap of $612.54 million, a P/E ratio of -13.30 and a beta of 3.45.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last posted 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. HIVE Digital Technologies had a negative net margin of 17.47% and a negative return on equity of 17.39%. The business had revenue of $45.61 million during the quarter, compared to analysts' expectations of $45.16 million. Sell-side analysts forecast that HIVE Digital Technologies Ltd. will post -0.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Roth Capital upped their price target on shares of HIVE Digital Technologies from $6.00 to $7.50 and gave the stock a "buy" rating in a research report on Tuesday, August 26th. Wall Street Zen upgraded shares of 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 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. Rosenblatt Securities cut their price objective on shares of HIVE Digital Technologies from $5.50 to $5.00 and set a "buy" rating for the company in a report on Friday, June 27th. Finally, Cantor Fitzgerald increased their price objective on shares of HIVE Digital Technologies from $5.00 to $5.50 and gave the company an "overweight" rating in a report on Friday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $6.93.

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.