Man Group plc Invests $1.12 Million in HIVE Digital Technologies Ltd. (NASDAQ:HIVE)

Man Group plc purchased a new position in shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 391,085 shares of the company's stock, valued at approximately $1,118,000. Man Group plc owned approximately 0.26% of HIVE Digital Technologies at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in HIVE. Impact Partnership Wealth LLC increased its position in shares of HIVE Digital Technologies by 11.0% during the fourth quarter. Impact Partnership Wealth LLC now owns 53,231 shares of the company's stock worth $152,000 after purchasing an additional 5,277 shares in the last quarter. Tobam increased its position in shares of HIVE Digital Technologies by 198.6% during the fourth quarter. Tobam now owns 19,060 shares of the company's stock worth $54,000 after purchasing an additional 12,676 shares in the last quarter. Gladstone Institutional Advisory LLC increased its position in shares of HIVE Digital Technologies by 114.1% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 30,025 shares of the company's stock worth $86,000 after purchasing an additional 16,000 shares in the last quarter. Van ECK Associates Corp increased its position in shares of HIVE Digital Technologies by 17.9% during the fourth quarter. Van ECK Associates Corp now owns 4,562,489 shares of the company's stock worth $13,003,000 after purchasing an additional 692,799 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in shares of HIVE Digital Technologies during the fourth quarter worth $70,000. 24.42% of the stock is owned by institutional investors and hedge funds.

HIVE Digital Technologies Price Performance

Shares of HIVE stock traded down $0.03 during mid-day trading on Thursday, hitting $1.87. 6,056,838 shares of the stock were exchanged, compared to its average volume of 7,137,290. The firm has a fifty day moving average of $1.69 and a 200 day moving average of $2.61. 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 $330.26 million, a PE ratio of -37.30 and a beta of 3.52.

Wall Street Analysts Forecast Growth

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

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.