HIVE Digital Technologies (NASDAQ:HIVE) Issues Earnings Results

HIVE Digital Technologies (NASDAQ:HIVE) released its earnings results on Monday. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01, Zacks reports. HIVE Digital Technologies had a negative return on equity of 31.98% and a negative net margin of 98.49%.

HIVE Digital Technologies Trading Up 1.7%

Shares of NASDAQ:HIVE traded up $0.03 during midday trading on Monday, reaching $1.81. The company had a trading volume of 14,428,348 shares, compared to its average volume of 17,871,449. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.96 and a current ratio of 1.96. HIVE Digital Technologies has a 1-year low of $1.58 and a 1-year high of $5.34. The firm has a market cap of $499.97 million, a price-to-earnings ratio of -1.40 and a beta of 3.76. The company has a fifty day simple moving average of $2.60 and a two-hundred day simple moving average of $2.80.

Insiders Place Their Bets

In other news, Director Dave Perrill sold 100,000 shares of HIVE Digital Technologies stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $2.72, for a total transaction of $272,000.00. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 9.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on HIVE. Weiss Ratings upgraded HIVE Digital Technologies from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, August 14th. Chardan Capital restated a “buy” rating and issued a $7.50 price objective on shares of HIVE Digital Technologies in a report on Wednesday, September 16th. Rosenblatt Securities raised their target price on HIVE Digital Technologies from $5.50 to $6.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Wall Street Zen cut HIVE Digital Technologies from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 12th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $10.00 target price on shares of HIVE Digital Technologies in a report on Monday, October 19th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $6.95.

About HIVE Digital Technologies

HIVE Digital Technologies Ltd. is a digital asset infrastructure company focused primarily on Bitcoin mining and the operation of data centers. The company uses specialized computing equipment and energy infrastructure to support cryptocurrency mining, while also developing facilities designed to accommodate high-performance computing and artificial intelligence applications.

Founded as HIVE Blockchain Technologies, the company adopted the HIVE Digital Technologies name in 2023 to reflect its broader focus beyond cryptocurrency mining.