At the last check on Friday, HIVE Digital Technologies Ltd.’s (NASDAQ:HIVE) stock was down -$0.2, moving down -5.34 percent to $3.45. The average number of shares traded per day over the past five days has been 1,199,038 shares. 2 times new highs have been achieved over the past 5 days, with a $0.06 gain in that time frame. In the last twenty days, the average volume was 1,264,974, while in the previous 50 days, it was 1,700,254.
Since last month, HIVE stock retreated -28.76%. Shares of the company fell to $3.36 on 08/29/23, the lowest level in the past month. A 52-week high of $6.84 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 139.93% or $2.07, and marked a new high 21 times. However, the stock has declined by -49.49% since its 52-week high.
Valuation Metrics
The stock’s beta is 3.71. Besides these, the trailing price-to-sales (P/S) ratio of 3.45, the price-to-book (PB) ratio of 1.52.
Financial Health
In the three months ended June 29, HIVE Digital Technologies Ltd.’s quick ratio stood at 3.10, while its current ratio was 3.10, showing that the company is able to pay off its debt. 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 0.24. On the profitability front, the trailing twelve-month gross margin is -47.90% 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. 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 $34.49 million.
Technical Picture
This quick technical analysis looks at HIVE Digital Technologies Ltd.’s (HIVE) price momentum. With a historical volatility rate of 109.65%, the RSI 9-day stood at 36.89% on 31 August.
With respect to its five-day moving average, the current HIVE Digital Technologies Ltd. price is up by +1.59% percent or $0.06. At present, HIVE shares trade -25.11% below its 20-day simple moving average and -0.14% percent below its 100-day simple moving average. However, the stock is currently trading approximately -7.28% below its SMA50 and +33.27% above its SMA200.
Stochastic coefficient K was 24.97% and Stochastic coefficient D was 28.99%, while ATR was 0.32. Given the Stochastic reading of 11.89% for the 14-day period, the RSI (14) reading has been calculated as 38.23%. As of today, the MACD Oscillator reading stands at 0.06, while the 14-day reading stands at -0.04.
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.
