Hive Blockchain Technologies, a Canadian company listed on the Toronto Stock Exchange (TSX:HIVE), has seen a significant increase in its average one-year price target. The target has been revised to 8.11 per share, which represents a 34.45% increase from the previous estimate of 6.04 dated August 31, 2023.
The average price target is based on the estimates provided by analysts, and the latest targets range from a low of 6.56 to a high of 9.88 per share. This indicates an average increase of 99.38% from the latest reported closing price of 4.07 per share.
In terms of fund sentiment, there are 68 funds or institutions reporting positions in Hive Blockchain Technologies. This represents a decrease of 11 owners or 13.92% in the last quarter. The average portfolio weight of all funds dedicated to HIVE is 0.54%, which is a decrease of 1.10%. Additionally, the total shares owned by institutions have decreased by 9.93% to 13,082K shares in the last three months.
Looking at the activities of other shareholders, Invesco holds 2,838K shares, representing 3.30% ownership of the company. This is a decrease of 56.95% from their previous filing, but the firm has increased its portfolio allocation in HIVE by 810.37% over the last quarter.
Similarly, Toroso Investments holds 2,813K shares, representing 3.27% ownership of the company. This is a decrease of 2.77% from their prior filing, but the firm has increased its portfolio allocation in HIVE by 38.81% over the last quarter.
Another significant shareholder is the SPDR S&P Kensho New Economies Composite ETF (KOMP), which holds 1,305K shares, representing 1.52% ownership of the company. The firm has increased its portfolio allocation in HIVE by 318.76% over the last quarter.
BITQ – Bitwise Crypto Industry Innovators ETF holds 1,044K shares, representing 1.21% ownership of the company. This is an increase of 17.50% from their previous filing, and the firm has increased its portfolio allocation in HIVE by 20.37% over the last quarter.
Mirae Asset Global Investments Co. holds 885K shares, representing 1.03% ownership of the company. This is a decrease of 0.18% from their prior filing, but the firm has increased its portfolio allocation in HIVE by 36.62% over the last quarter.
It is important to note that the information provided above is sourced from Fintel, one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds. Fintel’s data covers fundamentals, analyst reports, ownership data, fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and more.
In conclusion, Hive Blockchain Technologies has received a revised average one-year price target of 8.11 per share, indicating a significant increase in value. The company has also seen changes in fund sentiment and shareholder activities, with some increasing their allocation in HIVE while others decrease their ownership. As always, investors should conduct their own research and consider various factors before making investment decisions.