Bank of America Corp DE Trims Holdings in HIVE Digital Technologies Ltd. (NASDAQ:HIVE)

Bank of America Corp DE trimmed its stake in HIVE Digital Technologies Ltd. (NASDAQ:HIVE) by 63.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 47,593 shares of the company’s stock after selling 83,524 shares during the period. Bank of America Corp DE’s holdings in HIVE Digital Technologies were worth $136,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the business. Lifeworks Advisors LLC increased its stake in HIVE Digital Technologies by 46.2% during the 4th quarter. Lifeworks Advisors LLC now owns 16,307 shares of the company’s stock worth $46,000 after buying an additional 5,152 shares during the period. Wells Fargo & Company MN increased its stake in HIVE Digital Technologies by 60.9% during the 4th quarter. Wells Fargo & Company MN now owns 15,320 shares of the company’s stock worth $44,000 after buying an additional 5,800 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in HIVE Digital Technologies by 15.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,351 shares of the company’s stock worth $178,000 after buying an additional 8,158 shares during the period. Plancorp LLC increased its stake in HIVE Digital Technologies by 90.5% during the 4th quarter. Plancorp LLC now owns 20,000 shares of the company’s stock worth $57,000 after buying an additional 9,500 shares during the period. Finally, Invesco Ltd. increased its stake in HIVE Digital Technologies by 12.8% during the 4th quarter. Invesco Ltd. now owns 101,092 shares of the company’s stock worth $288,000 after buying an additional 11,458 shares during the period. 24.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HIVE has been the subject of several analyst reports. Wall Street Zen upgraded shares of HIVE Digital Technologies to a “sell” rating in a report on Saturday, May 17th. Canaccord Genuity Group restated a “buy” rating and issued a $9.00 target price on shares of HIVE Digital Technologies in a report on Wednesday, March 26th. Rosenblatt Securities began coverage on shares of HIVE Digital Technologies in a research note on Friday, March 7th. They set a “buy” rating and a $6.00 price target for the company. Finally, Cantor Fitzgerald decreased their price target on shares of HIVE Digital Technologies from $10.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $7.64.

HIVE Digital Technologies Stock Performance

Shares of HIVE opened at $1.90 on Tuesday. The company has a current ratio of 10.41, a quick ratio of 10.41 and a debt-to-equity ratio of 0.03. The stock has a market cap of $355.75 million, a P/E ratio of -38.00 and a beta of 3.45. The company has a 50-day moving average of $1.79 and a two-hundred day moving average of $2.37. HIVE Digital Technologies Ltd. has a 12-month low of $1.26 and a 12-month high of $5.54.

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.