Cubist Systematic Strategies LLC Raises Holdings in HIVE Digital Technologies Ltd. (NASDAQ:HIVE)

Cubist Systematic Strategies LLC grew its holdings in shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Free Report) by 332.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 962,677 shares of the company's stock after purchasing an additional 740,247 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.65% of HIVE Digital Technologies worth $2,744,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in 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 period. Van ECK Associates Corp grew its holdings in shares of HIVE Digital Technologies by 17.9% in the 4th quarter. Van ECK Associates Corp now owns 4,562,489 shares of the company's stock worth $13,003,000 after acquiring an additional 692,799 shares during the period. Quantbot Technologies LP acquired a new stake in shares of HIVE Digital Technologies in the 4th quarter worth approximately $854,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of HIVE Digital Technologies in the 4th quarter worth approximately $811,000. Finally, Wells Fargo & Company MN grew its holdings in shares of HIVE Digital Technologies by 60.9% in the 4th quarter. Wells Fargo & Company MN now owns 15,320 shares of the company's stock worth $44,000 after acquiring an additional 5,800 shares during the period. Institutional investors and hedge funds own 24.42% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on HIVE. HC Wainwright restated a "buy" rating and issued a $10.00 price target (up previously from $8.00) on shares of HIVE Digital Technologies in a report on Thursday, February 13th. Rosenblatt Securities started coverage on HIVE Digital Technologies in a research note on Friday, March 7th. They issued a "buy" rating and a $6.00 target price on the stock. Cantor Fitzgerald reduced their target price on HIVE Digital Technologies from $10.00 to $8.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 11th. Finally, 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. One equities research 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 a consensus price target of $7.64.

HIVE Digital Technologies Trading Up 10.6%

Shares of HIVE Digital Technologies stock traded up $0.20 during trading hours on Friday, reaching $2.04. 14,236,533 shares of the company's stock were exchanged, compared to its average volume of 6,652,242. HIVE Digital Technologies Ltd. has a 52-week low of $1.26 and a 52-week high of $5.54. The firm has a market capitalization of $360.36 million, a price-to-earnings ratio of -40.50 and a beta of 3.52. The company has a fifty day moving average of $1.64 and a 200-day moving average of $2.73. The company has a current ratio of 10.41, a quick ratio of 10.41 and a debt-to-equity ratio of 0.03.

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

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.