HIVE Digital Technologies Ltd. (NASDAQ:HIVE) shares, rose in value, with the stock price down by -5.75% to the previous day’s close as strong demand from buyers drove the stock to $2.95.
Actively observing the price movement in the last trading, the stock closed the session at $3.13. The value of beta (5-year monthly) was 4.32. Referring to stock’s 52-week performance, its high was $6.84, and the low was $2.66. On the whole, HIVE has fluctuated by -18.51% over the past month.
With the market capitalization of HIVE Digital Technologies Ltd. currently standing at about $296.53 million, investors are eagerly awaiting this quarter’s results, scheduled for Feb 13, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.14, which is expected to increase to -$0.25 for fiscal year -$0.58 and then to about -$0.62 by fiscal year 2025. Data indicates that the EPS growth is expected to be 79.60% in 2025, while the next year’s EPS growth is forecast to be -6.90%.
Analysts have estimated the company’s revenue for the quarter at $34.68 million, with a low estimate of $29.5 million and a high estimate of $42.8 million. According to the average forecast, sales growth in current quarter could jump up 90.30%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $112.17 million, representing an increase of 5.50% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that HIVE’s technical picture suggests that short-term indicators denote the stock is a 25% Buy on average. However, medium term indicators have put the stock in the category of Hold while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of HIVE currently trading nearly -22.78% and -19.53% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 34.97, while the 7-day volatility ratio is showing 7.54% which for the 30-day chart, stands at 8.83%. Furthermore, HIVE Digital Technologies Ltd. (HIVE)’s beta value is 3.58, and its average true range (ATR) is 0.31.
A comparison of HIVE Digital Technologies Ltd. (HIVE) with its peers suggests the former has fared considerably weaker in the market. HIVE showed an intraday change of -5.75% in last session, and over the past year, it grew by 8.86%%.
Data on historical trading for HIVE Digital Technologies Ltd. (NASDAQ:HIVE) indicates that the trading volumes over the past 10 days have averaged 2.7 million and over the past 3 months, they’ve averaged 4.26 million. According to company’s latest data on outstanding shares, there are 100.52 million shares outstanding.
Nearly 0.36% of HIVE Digital Technologies Ltd.’s shares belong to company insiders and institutional investors own 20.69% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 7.89 million shares as on Feb 29, 2024, resulting in a short ratio of 1.89. According to the data, the short interest in HIVE Digital Technologies Ltd. (HIVE) stood at 7.04% of shares outstanding as of Feb 29, 2024; the number of short shares registered in Jan 31, 2024 reached 9.6 million. The stock has fallen by -34.88% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the HIVE stock heading into the next quarter.
