HIVE Blockchain Technologies Ltd. (HIVE) Stock: Should Investors Follow These Insider Trades?

HIVE Blockchain Technologies Ltd. (NASDAQ:HIVE) saw a downside of -0.07% on Monday at $2.78 after subtracting $0.0. The 5-day average trading volume is 3,424,073 shares of the company’s common stock. It has gained $2.90 in the past week and touched a new high 3 times within the past 5 days. An average of 4,076,213 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 4,603,471.

HIVE’s 1-month performance is -14.98% or -$0.81 on its low of $2.50 reached on 09/20/21. The company’s shares have touched a 52-week low of $0.22 and high of $5.75, with the stock’s rally to the 52-week high happening on 02/19/21. YTD, HIVE has achieved 47.09% or $0.90 and has reached a new high 9 times. However, the current price is down -51.69%% from the 52-week high price.


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Valuation Metrics

The company’s PE ratio for the last five years has touched a high of 63.28 and a low of 5.761. HIVE stock has a beta of 4.38. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 15.37 while the price-to-book (PB) in the most recent quarter is 5.79, with the price to cash flow ratio at 650.05.

HIVE Blockchain Technologies Ltd.’s quick ratio for the recent quarter was 10.90, with the current ratio over the same period at 10.90 meaning that HIVE stock is able to fulfill its debt obligations. In terms of profitability, the gross margin trailing 12 months is 95.80%The trailing 12-month EBITDA margin is 64.96% while HIVE Blockchain Technologies Ltd.’s operating margin was 65.90%. The firm’s gross profit as reported stood at $50.12 million against revenue of $66.7 million.

Earnings Surprise

HIVE Blockchain Technologies Ltd.’s cash and short-term investments amounted to $57.57 million against total debt of $37.84 million. Net income and sales went up compared to those figures reported in the previous quarter. EBITDA for the quarter stood at more than $44.13 million. HIVE stock balance sheet for the recent quarter shows that total liabilities totaled 43.86 million, with total debt at $37.84 million

Technical Picture

Let’s look briefly at HIVE Blockchain Technologies Ltd. (HIVE) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 01 October was 48.12% to suggest the stock is trending Neutral, with historical volatility in this time period at 78.98%.

The stock’s 5-day moving average is $2.69, reflecting a -2.45% or -$0.07 change from its current price. HIVE is currently trading -22.50% above its 20-day SMA, -4.45% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by +27.98% and +52.46% respectively.

Stochastic %K and %D was 39.55% and 27.67% and the average true range (ATR) pointed at 0.20. The RSI (14) points at 47.55%, while the 14-day stochastic is at 50.46% with the period’s ATR at 0.21. The stock’s 9-day MACD Oscillator is pointing at -0.02 and -0.02 on the 14-day charts.

Analyst Ratings

Analysts offering their rating for HIVE stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate HIVE as a “sell,”, while 0 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 1 have offered a “buy” rating.

What is HIVE’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $4.00 and a high of $4.00, with their median price target at $4.00. Looking at these predictions, the average price target given by analysts is for HIVE Blockchain Technologies Ltd. (HIVE) stock is $4.00.

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