Thinking Of Selling HIVE Digital Technologies Ltd. (NASDAQ: HIVE) Stock? Check This Out First

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) shares, rose in value on Thursday, April 04, with the stock price up by 2.02% to the previous day’s close as strong demand from buyers drove the stock to $3.28.

Actively observing the price movement in the recent trading, the stock is buoying the session at $3.21. The value of beta (5-year monthly) is 4.32. Referring to stock’s 52-week performance, its high was $6.84, and the low was $2.75. On the whole, HIVE has fluctuated by -3.68% over the past month.

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With the market capitalization of HIVE Digital Technologies Ltd. currently standing at about $342.57 million, investors are eagerly awaiting this quarter’s results, scheduled for Jun 28, 2024 – Jul 02, 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 50% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell 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 2.81% and -5.35% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 48.26, while the 7-day volatility ratio is showing 5.46% which for the 30-day chart, stands at 6.49%. Furthermore, HIVE Digital Technologies Ltd. (HIVE)’s beta value is 3.61, and its average true range (ATR) is 0.23.

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 2.02% in today’s session so far, and over the past year, it shrunk by -0.46%%.

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 3.13 million. According to company’s latest data on outstanding shares, there are 104.60 million shares outstanding.

Nearly 0.50% of HIVE Digital Technologies Ltd.’s shares belong to company insiders and institutional investors own 20.21% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 6.08 million shares as on Mar 15, 2024, resulting in a short ratio of 1.89. According to the data, the short interest in HIVE Digital Technologies Ltd. (HIVE) stood at 6.57% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 7.89 million. The stock has fallen by -27.70% 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.