HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Shares Acquired by Tidal Investments LLC

Tidal Investments LLC increased its stake in shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Free Report) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,210,339 shares of the company's stock after buying an additional 200,024 shares during the quarter. Tidal Investments LLC owned about 2.84% of HIVE Digital Technologies worth $11,999,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of HIVE Digital Technologies during the fourth quarter worth about $26,000. Point72 Asset Management L.P. purchased a new position in shares of HIVE Digital Technologies during the fourth quarter worth about $249,000. Man Group plc purchased a new position in shares of HIVE Digital Technologies during the fourth quarter worth about $1,118,000. Graham Capital Management L.P. grew its holdings in shares of 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 worth $471,000 after buying an additional 65,722 shares during the last quarter. Finally, CoreCap Advisors LLC grew its holdings in shares of HIVE Digital Technologies by 99.9% during the fourth quarter. CoreCap Advisors LLC now owns 50,830 shares of the company's stock worth $145,000 after buying an additional 25,400 shares during the last quarter. Hedge funds and other institutional investors own 24.42% of the company's stock.

HIVE Digital Technologies Price Performance

Shares of HIVE stock traded down $0.05 during midday trading on Friday, reaching $1.96. 18,748,582 shares of the company traded hands, compared to its average volume of 7,049,199. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.41 and a quick ratio of 10.41. HIVE Digital Technologies Ltd. has a 1-year low of $1.26 and a 1-year high of $5.54. The firm has a market cap of $347.08 million, a PE ratio of -39.20 and a beta of 3.52. The firm's 50 day simple moving average is $1.68 and its two-hundred day simple moving average is $2.65.

Wall Street Analyst Weigh In

HIVE has been the topic of a number of research reports. Canaccord Genuity Group reissued a "buy" rating and set a $9.00 price target on shares of HIVE Digital Technologies in a report on Wednesday, March 26th. Rosenblatt Securities began 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 objective for the company. Cantor Fitzgerald reduced their price objective on shares of HIVE Digital Technologies from $10.00 to $8.00 and set an "overweight" rating for the company in a research report on Tuesday, March 11th. HC Wainwright restated a "buy" rating and issued a $10.00 price objective (up previously from $8.00) on shares of HIVE Digital Technologies in a research report on Thursday, February 13th. Finally, Wall Street Zen upgraded shares of HIVE Digital Technologies to a "sell" rating in a research report on Saturday, May 17th. One equities research analyst has rated the stock with a sell rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, HIVE Digital Technologies presently has a consensus rating of "Buy" and an average price target of $7.64.

HIVE Digital Technologies Company 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.