HIVE Digital Technologies (NASDAQ:HIVE) Issues Quarterly Earnings Results

HIVE Digital Technologies (NASDAQ:HIVE) announced its quarterly earnings results on Tuesday. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.03, Zacks reports. The firm had revenue of $22.65 million during the quarter, compared to analysts’ expectations of $25.32 million. HIVE Digital Technologies had a negative net margin of 12.04% and a negative return on equity of 10.78%. During the same quarter in the prior year, the company earned ($0.29) EPS.

HIVE Digital Technologies Trading Up 2.8 %

Shares of HIVE Digital Technologies stock traded up $0.12 during mid-day trading on Friday, hitting $4.42. 2,182,644 shares of the stock were exchanged, compared to its average volume of 3,550,575. The company has a 50-day simple moving average of $3.51 and a 200 day simple moving average of $3.20. The company has a current ratio of 5.56, a quick ratio of 7.35 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $560.59 million, a price-to-earnings ratio of -30.75 and a beta of 3.43. HIVE Digital Technologies has a twelve month low of $2.18 and a twelve month high of $5.74.

Wall Street Analysts Forecast Growth

HIVE has been the subject of several recent analyst reports. Northland Capmk upgraded shares of HIVE Digital Technologies to a “strong-buy” rating in a research note on Thursday, September 19th. HC Wainwright boosted their target price on HIVE Digital Technologies from $5.00 to $8.00 and gave the stock a “buy” rating in a research note on Thursday. Cantor Fitzgerald assumed coverage on HIVE Digital Technologies in a research report on Tuesday, October 29th. They set an “overweight” rating and a $9.00 target price on the stock. B. Riley started coverage on shares of HIVE Digital Technologies in a research note on Friday, July 19th. They issued a “buy” rating and a $6.00 target price for the company. Finally, Canaccord Genuity Group boosted their price objective on shares of HIVE Digital Technologies from $6.00 to $7.00 and gave the company a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $7.17.

HIVE Digital Technologies Company Profile

HIVE Digital Technologies Ltd. operates as a cryptocurrency mining company in Canada, Sweden, and Iceland. The company engages in the mining and sale of digital currencies, including Ethereum Classic, Bitcoin, and other coins. It also operates data centers; and offers infrastructure solutions. The company was formerly known as HIVE Blockchain Technologies Ltd.