The stock of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) increased by $0.43 on Tuesday to at $3.87, up 12.35 percent. The last five days have seen an average of 1,135,105 shares of common stock traded. 21 times new highs were reached in the current year, with a gain of $2.55. The average number of shares traded over the last 20 days was 1,178,681, while the average volume over the last 50 days totaled 1,778,927.
HIVE stock dropped -28.69% since last month. On 08/29/23, the company’s shares reached a one-month low of $3.36. The stock touched a high of $6.84 on 07/13/23, after rallying from a low of $1.36 in 52 weeks. The price of HIVE stock has risen by 168.40% or $2.55 this year, reaching a new high 21 times. Still, the stock price is down -43.49% from the 52-week high.
Valuation Metrics
Beta for the stock is 3.73. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 3.86, the price-to-book (PB) ratio of 1.70.
Financial Health
For the three months ended June 29, HIVE Digital Technologies Ltd.’s quick ratio was 3.10, while its current ratio was 3.10, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.16, and the total debt to equity ratio is 0.24. As far as profitability goes, gross margin for the trailing twelve months is -47.90% percent. Based on annual data, it had gross profit of $50.6 million and revenue of $106.32 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. There was a -120.60% return on investment (ROI) in the past year.
Earnings Surprise
According to HIVE Digital Technologies Ltd.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $38.04 million, while revenues fell by -6.41% to $33.02 million. It was predicted that HIVE Digital Technologies Ltd.’s quarterly earnings would be -$0.19, but it ended up being -$0.14, beating the consensus by -35.70%. EBITDA was $2.67 million for the quarter. At the end of HIVE Digital Technologies Ltd.’s most recent quarter ended June 29, its liabilities totaled 46.79 million, while its total debt was $34.49 million.
Technical Picture
Here’s a quick look at HIVE Digital Technologies Ltd.’s (HIVE) price momentum from a technical perspective. As of 28 August, the RSI 9-day stood at 49.41%, suggesting the stock is Neutral, with a 117.00% historical volatility rate.
The stochastic %K and %D were 15.92% and 9.24% respectively, while the average true range (ATR) was 0.34. Based on the 14-day stochastic reading of 41.10%, the RSI (14) reading is 45.92%. On the 9-day MACD Oscillator, the stock is at -0.01, and the 14-day reading is at -0.29.
Analyst Ratings
Analysts have assigned HIVE Digital Technologies Ltd. (HIVE) an Buy rating. HIVE is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 3 others recommend it as a buy.
What is HIVE’s price target for the next 12 months?
The current consensus forecast for the stock is between $6.50 and $7.00, with a median target price of $7.00. In analyzing these forecasts, the average price target given by analysts for HIVE Digital Technologies Ltd. (HIVE) is $6.83.
