Two Sigma Advisers LP Sells 950,060 Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE)

Two Sigma Advisers LP cut its holdings in HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Free Report) by 94.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,300 shares of the company's stock after selling 950,060 shares during the quarter. Two Sigma Advisers LP's holdings in HIVE Digital Technologies were worth $160,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Tidal Investments LLC boosted its stake in shares of HIVE Digital Technologies by 5.0% during the 4th quarter. Tidal Investments LLC now owns 4,210,339 shares of the company's stock worth $11,999,000 after acquiring an additional 200,024 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in HIVE Digital Technologies in the 4th quarter worth approximately $26,000. Point72 Asset Management L.P. bought a new stake in HIVE Digital Technologies during the fourth quarter worth approximately $249,000. Man Group plc bought a new stake in HIVE Digital Technologies during the fourth quarter worth approximately $1,118,000. Finally, Graham Capital Management L.P. grew its holdings in HIVE Digital Technologies by 66.1% during the fourth quarter. Graham Capital Management L.P. now owns 165,217 shares of the company's stock valued at $471,000 after purchasing an additional 65,722 shares during the last quarter. 24.42% of the stock is owned by institutional investors.

HIVE Digital Technologies Stock Performance

Shares of NASDAQ:HIVE remained flat at $2.01 on Monday. 14,166,824 shares of the stock traded hands, compared to its average volume of 7,565,242. The company has a fifty day moving average of $1.73 and a 200 day moving average of $2.45. The company has a quick ratio of 10.41, a current ratio of 10.41 and a debt-to-equity ratio of 0.03. HIVE Digital Technologies Ltd. has a 52 week low of $1.26 and a 52 week high of $5.54. The company has a market cap of $374.19 million, a P/E ratio of -40.20 and a beta of 3.45.

Analyst Upgrades and Downgrades

HIVE has been the topic of a number of research analyst reports. Cantor Fitzgerald lowered their target price on HIVE Digital Technologies from $10.00 to $8.00 and set an "overweight" rating on the stock in a report on Tuesday, March 11th. Rosenblatt Securities assumed coverage on shares of HIVE Digital Technologies in a research report on Friday, March 7th. They issued a "buy" rating and a $6.00 price target on the stock. Canaccord Genuity Group restated a "buy" rating and set a $9.00 price objective on shares of HIVE Digital Technologies in a report on Wednesday, March 26th. HC Wainwright reiterated a "buy" rating and issued a $10.00 target price (up previously from $8.00) on shares of HIVE Digital Technologies in a research note on Thursday, February 13th. Finally, Wall Street Zen raised HIVE Digital Technologies to a "sell" rating in a research report on Saturday, May 17th. One research analyst has rated the stock with a sell rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $7.64.

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.