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

Van ECK Associates Corp boosted its stake in shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) by 39.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,843,702 shares of the company’s stock after buying an additional 524,613 shares during the quarter. Van ECK Associates Corp’s holdings in HIVE Digital Technologies were worth $8,352,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Invesco Ltd. boosted its position in shares of HIVE Digital Technologies by 2.8% during the third quarter. Invesco Ltd. now owns 2,918,364 shares of the company’s stock valued at $8,989,000 after buying an additional 80,788 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in HIVE Digital Technologies by 6.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 914,308 shares of the company’s stock valued at $4,133,000 after acquiring an additional 54,615 shares during the last quarter. Global Strategic Investment Solutions LLC bought a new position in HIVE Digital Technologies in the 4th quarter valued at $113,000. GSG Advisors LLC purchased a new stake in HIVE Digital Technologies in the third quarter worth $77,000. Finally, CWM LLC bought a new stake in shares of HIVE Digital Technologies during the third quarter worth $49,000. 24.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

HIVE Digital Technologies Stock Performance

HIVE opened at $2.44 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.51 and a quick ratio of 3.51. The business’s fifty day simple moving average is $3.17 and its 200-day simple moving average is $3.45. HIVE Digital Technologies Ltd. has a 12-month low of $2.41 and a 12-month high of $6.84.

HIVE Digital Technologies (NASDAQ:HIVE) last issued its earnings results on Tuesday, February 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.15. HIVE Digital Technologies had a negative net margin of 57.15% and a negative return on equity of 34.90%. The company had revenue of $31.25 million for the quarter, compared to analysts’ expectations of $27.20 million. As a group, sell-side analysts expect that HIVE Digital Technologies Ltd. will post -0.51 EPS for the current 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.