Why You Need HIVE Blockchain Technologies Ltd. (HIVE) On Your Watchlist


HIVE Blockchain Technologies Ltd. (NASDAQ:HIVE) saw a downside of -2.33% to $3.36 after subtracting -$0.08 on Tuesday. The 5-day average trading volume is 1,639,199 shares of the company’s common stock. It has gained $3.53 in the past week and touched a new high 2 times within the past 5 days. An average of 1,513,430 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,261,204.

HIVE’s 1-month performance is 94.35% or $1.83 on its low of $1.36 reached on 12/30/22. The company’s shares have touched a 52-week low of $1.36 and high of $12.05, with the stock’s rally to the 52-week high happening on 01/13/23. YTD, HIVE has achieved 138.89% or $1.98 and has reached a new high 7 times. However, the current price is down -72.12% from the 52-week high price.

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A new megatrend in the fintech market is well underway. Mobile payments are projected to boom into a massive $12 trillion market by 2028. According to Motley Fool this growth stock could "deliver huge returns." Not only in the immediate future but also over the next decade. Especially since the man behind this company is a serial entrepreneur who has been wildly successful over the years.

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Valuation Metrics

HIVE stock has a beta of 4.17. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.36 while the price-to-book (PB) in the most recent quarter is 0.92.

HIVE Blockchain Technologies Ltd.’s quick ratio for the period ended September 29 was 3.70, with the current ratio over the same period at 3.70. As well, the company’s long term debt to equity for the quarter ending September 29 was 0.11, while the total debt to equity was 0.16. In terms of profitability, the gross margin trailing 12 months is -28.60%. The firm’s gross profit as reported stood at $163.93 million against revenue of $211.18 million.

Earnings Surprise

For the quarterly period ending September 29 this year, HIVE Blockchain Technologies Ltd.’s cash and short-term investments amounted to $57.57 million against total debt of $36.43 million. Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 53.45% to -$6.08 million, while revenue of -$8.65 million was -42.27% off the previous quarter. Analysts expected HIVE to announce -$0.24 per share in earnings in its latest quarter, but it posted -$0.45, representing a -87.50% surprise. EBITDA for the quarter stood at more than $8.41 million. HIVE stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 49.88 million, with total debt at $36.43 million.

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 23 January was 74.74% to suggest the stock is trending Overbought, with historical volatility in this time period at 185.12%.

The stock’s 5-day moving average is $3.14, reflecting a +3.01% or $0.10 change from its current price. HIVE is currently trading +112.42% above its 20-day SMA, -30.06% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +49.34% and SMA200 by-64.19%.

Stochastic %K and %D was 87.77% and 79.67% and the average true range (ATR) pointed at 0.32. The RSI (14) points at 71.58%, while the 14-day stochastic is at 91.26% with the period’s ATR at 0.29. The stock’s 9-day MACD Oscillator is pointing at 0.26 and 0.66 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for HIVE Blockchain Technologies Ltd. (NASDAQ: HIVE), Stifel launched coverage with a Buy rating.


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