First Trust Advisors LP Cuts Position in HIVE Digital Technologies Ltd. (NASDAQ:HIVE)

First Trust Advisors LP cut its stake in shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Free Report) by 55.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 152,672 shares of the company's stock after selling 189,569 shares during the period. First Trust Advisors LP owned about 0.10% of HIVE Digital Technologies worth $435,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in HIVE. Van ECK Associates Corp grew its stake in HIVE Digital Technologies by 17.9% during the 4th quarter. Van ECK Associates Corp now owns 4,562,489 shares of the company's stock valued at $13,003,000 after acquiring an additional 692,799 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of HIVE Digital Technologies by 126.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 736,287 shares of the company's stock worth $2,098,000 after purchasing an additional 411,071 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in shares of HIVE Digital Technologies in the fourth quarter valued at approximately $2,058,000. XTX Topco Ltd increased its holdings in shares of HIVE Digital Technologies by 126.8% in the fourth quarter. XTX Topco Ltd now owns 335,499 shares of the company's stock valued at $956,000 after purchasing an additional 187,576 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in HIVE Digital Technologies during the fourth quarter worth approximately $854,000. 24.42% of the stock is currently owned by institutional investors and hedge funds.

HIVE Digital Technologies Trading Down 3.9%

NASDAQ HIVE traded down $0.08 during trading on Thursday, hitting $1.84. The stock had a trading volume of 5,336,971 shares, compared to its average volume of 6,583,408. The company has a quick ratio of 10.41, a current ratio of 10.41 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $312.71 million, a PE ratio of -37.10 and a beta of 3.52. The firm has a 50 day moving average price of $1.64 and a 200 day moving average price of $2.75. HIVE Digital Technologies Ltd. has a twelve month low of $1.26 and a twelve month high of $5.54.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.06) earnings per share for the quarter, beating analysts' consensus estimates of ($0.11) by $0.05. HIVE Digital Technologies had a negative net margin of 5.45% and a negative return on equity of 8.95%. As a group, equities research analysts forecast that HIVE Digital Technologies Ltd. will post -0.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on HIVE shares. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $9.00 target price on shares of HIVE Digital Technologies in a research note on Wednesday, March 26th. Rosenblatt Securities started coverage on shares of HIVE Digital Technologies in a research note on Friday, March 7th. They set a "buy" rating and a $6.00 target price on the stock. Cantor Fitzgerald decreased their target price on shares of HIVE Digital Technologies from $10.00 to $8.00 and set an "overweight" rating on the stock in a report on Tuesday, March 11th. Finally, HC Wainwright restated a "buy" rating and set a $10.00 price target (up previously from $8.00) on shares of HIVE Digital Technologies in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. 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.