HIVE Digital Technologies (NASDAQ:HIVE) Releases Earnings Results, Beats Expectations By $0.05 EPS

HIVE Digital Technologies (NASDAQ:HIVE) issued its earnings results on Tuesday. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.05, Zacks reports. HIVE Digital Technologies had a negative net margin of 12.04% and a negative return on equity of 10.78%.

HIVE Digital Technologies Stock Performance

NASDAQ HIVE traded down $0.11 during trading on Tuesday, reaching $2.72. The company’s stock had a trading volume of 12,555,550 shares, compared to its average volume of 11,080,705. The firm has a 50 day moving average price of $3.25 and a 200 day moving average price of $3.38. HIVE Digital Technologies has a 12 month low of $2.18 and a 12 month high of $5.54. The firm has a market capitalization of $402.75 million, a price-to-earnings ratio of -19.43 and a beta of 3.46. The company has a current ratio of 5.56, a quick ratio of 5.56 and a debt-to-equity ratio of 0.06.

Analyst Ratings Changes

Several research firms have issued reports on HIVE. Roth Mkm started coverage on HIVE Digital Technologies in a research note on Thursday, December 19th. They issued a “buy” rating and a $7.50 price objective on the stock. Keefe, Bruyette & Woods began coverage on HIVE Digital Technologies in a report on Wednesday, January 8th. They set an “outperform” rating for the company. Canaccord Genuity Group upped their price objective on shares of HIVE Digital Technologies from $7.00 to $8.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Roth Capital upgraded shares of HIVE Digital Technologies to a “strong-buy” rating in a research note on Wednesday, December 18th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $9.00 target price on shares of HIVE Digital Technologies in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $7.58.

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.