As of Wednesday close, HIVE Digital Technologies Ltd.’s (NASDAQ:HIVE) stock was down -$0.05, moving down -1.19 percent to $4.16. The average number of shares traded per day over the past five days has been 1,265,800 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.48 fall in that time frame. In the last twenty days, the average volume was 1,145,505, while in the previous 50 days, it was 1,695,612.
Since last month, HIVE stock retreated -25.71%. Shares of the company fell to $4.07 on 08/16/23, the lowest level in the past month. A 52-week high of $7.27 was reached on 07/13/23 after having rallying from a 52-week low of $1.36. Since the beginning of this year, HIVE’s stock price has risen by 188.89% or $2.72, and marked a new high 21 times. However, the stock has declined by -42.78% since its 52-week high.
Valuation Metrics
The stock’s beta is 3.70. Besides these, the trailing price-to-sales (P/S) ratio of 3.19, the price-to-book (PB) ratio of 1.84.
Financial Health
According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.16, and the total debt-to-equity ratio was 0.23. On the profitability front, the trailing twelve-month gross margin is -96.00% percent. Based on annual data, HIVE earned $50.6 million in gross profit and brought in $106.32 million in revenue.
In HIVE Digital Technologies Ltd.’s quarter-end financial report for June 29, it reported total debt of $20.0 million against cash and short-term investments of $57.57 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. HIVE’s revenue fell -6.41% to $33.02 million during the quarter, while net income inched up to $38.04 million. While analysts expected HIVE Digital Technologies Ltd. to report -$0.14 quarterly earnings, the actual figure was -$0.19 per share, beating the consensus estimate by -35.70%. During the quarter, the company generated $2.67 million in EBITDA. The liabilities of HIVE Digital Technologies Ltd. were 46.79 million at the end of its most recent quarter ended June 29, and its total debt was $33.87 million.
Technical Picture
This quick technical analysis looks at HIVE Digital Technologies Ltd.’s (HIVE) price momentum. With a historical volatility rate of 67.72%, the RSI 9-day stood at 32.13% on 16 August.
With respect to its five-day moving average, the current HIVE Digital Technologies Ltd. price is down by -10.34% percent or -$0.48. At present, HIVE shares trade -28.03% below its 20-day simple moving average and +37.75% percent above its 100-day simple moving average. However, the stock is currently trading approximately +28.00% above its SMA50 and +23.81% above its SMA200.
Stochastic coefficient K was 8.62% and Stochastic coefficient D was 15.21%, while ATR was 0.35. Given the Stochastic reading of 6.29% for the 14-day period, the RSI (14) reading has been calculated as 38.57%. As of today, the MACD Oscillator reading stands at -0.23, while the 14-day reading stands at -0.45.
Analyst Ratings
HIVE Digital Technologies Ltd. (HIVE) has been rated Buy by analysts. According to 0 brokerage firms, HIVE is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate HIVE Digital Technologies Ltd. stock as buy, with 3 recommending it as overweight.
With a median target price of $7.00, the current consensus forecast for the stock is $6.50 – $7.00. Based on these forecasts, analysts predict HIVE Digital Technologies Ltd. (HIVE) will achieve an average price target of $6.83.
