Cubist Systematic Strategies LLC Purchases 740,247 Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE)

Cubist Systematic Strategies LLC boosted its holdings in shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) by 332.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 962,677 shares of the company’s stock after buying an additional 740,247 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in HIVE Digital Technologies were worth $2,744,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Impact Partnership Wealth LLC lifted its position in shares of HIVE Digital Technologies by 11.0% during the 4th quarter. Impact Partnership Wealth LLC now owns 53,231 shares of the company’s stock worth $152,000 after purchasing an additional 5,277 shares during the last quarter. Tobam increased its stake in HIVE Digital Technologies by 198.6% in the fourth quarter. Tobam now owns 19,060 shares of the company’s stock valued at $54,000 after acquiring an additional 12,676 shares during the period. Gladstone Institutional Advisory LLC grew its stake in shares of HIVE Digital Technologies by 114.1% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 30,025 shares of the company’s stock valued at $86,000 after purchasing an additional 16,000 shares during the period. Van ECK Associates Corp raised its stake in HIVE Digital Technologies by 17.9% during the fourth 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 in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of HIVE Digital Technologies during the 4th quarter worth about $70,000. 24.42% of the stock is owned by institutional investors.

HIVE Digital Technologies Trading Up 1.1 %

NASDAQ:HIVE opened at $1.85 on Friday. The business’s 50-day simple moving average is $1.64 and its 200-day simple moving average is $2.78. 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 fifty-two week low of $1.26 and a fifty-two week high of $5.54. The stock has a market capitalization of $315.27 million, a PE ratio of -37.00 and a beta of 3.52.

HIVE Digital Technologies (NASDAQ:HIVE) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate 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 expect that HIVE Digital Technologies Ltd. will post -0.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on HIVE shares. Rosenblatt Securities assumed coverage on 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 target price on shares of 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. HC Wainwright reissued a “buy” rating and set a $10.00 price target (up from $8.00) on shares of HIVE Digital Technologies in a research note on Thursday, February 13th. Canaccord Genuity Group restated a “buy” rating and issued a $9.00 price target on shares of HIVE Digital Technologies in a research report on Wednesday, March 26th. Finally, StockNews.com upgraded HIVE Digital Technologies to a “sell” rating in a report on Tuesday, January 14th. 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, the stock presently has a consensus rating of “Buy” and a consensus 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.