Van ECK Associates Corp Buys 524,613 Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE)

Van ECK Associates Corp raised its holdings in shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Free Report) by 39.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,843,702 shares of the company's stock after purchasing an additional 524,613 shares during the quarter. Van ECK Associates Corp owned approximately 1.96% of HIVE Digital Technologies worth $8,352,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Personal CFO Solutions LLC bought a new position in HIVE Digital Technologies during the 3rd quarter worth $31,000. Golden Green Inc. bought a new position in HIVE Digital Technologies during the third quarter worth about $31,000. Atria Wealth Solutions Inc. acquired a new stake in HIVE Digital Technologies in the 4th quarter worth about $45,000. CWM LLC bought a new stake in HIVE Digital Technologies in the 3rd quarter valued at about $49,000. Finally, GSG Advisors LLC acquired a new position in shares of HIVE Digital Technologies during the 3rd quarter worth approximately $77,000. 24.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

HIVE has been the subject of a number of analyst reports. HC Wainwright reiterated a "neutral" rating and issued a $3.50 price target on shares of HIVE Digital Technologies in a research report on Wednesday, February 14th. StockNews.com upgraded HIVE Digital Technologies to a "sell" rating in a research report on Monday, March 18th. Finally, Canaccord Genuity Group restated a "buy" rating and issued a $6.00 price target on shares of HIVE Digital Technologies in a research report on Thursday, March 28th.

HIVE Digital Technologies Price Performance

Shares of NASDAQ HIVE traded down $0.05 during trading hours on Friday, hitting $2.44. 2,823,347 shares of the stock were exchanged, compared to its average volume of 2,112,293. The company's fifty day simple moving average is $3.14 and its two-hundred day simple moving average is $3.44. The company has a market cap of $262.30 million, a PE ratio of -3.81 and a beta of 3.55. HIVE Digital Technologies Ltd. has a 1-year low of $2.41 and a 1-year high of $6.84. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.51 and a current ratio of 3.51.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) last released its earnings results on Tuesday, February 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.23) by $0.15. HIVE Digital Technologies had a negative return on equity of 34.90% and a negative net margin of 57.15%. The firm had revenue of $31.25 million for the quarter, compared to analysts' expectations of $27.20 million. On average, sell-side analysts predict that HIVE Digital Technologies Ltd. will post -0.51 EPS for the current year.

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.