HIVE Digital Technologies (NASDAQ:HIVE) Posts Earnings Results, Beats Expectations By $0.03 EPS

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

HIVE Digital Technologies Price Performance

Shares of NASDAQ HIVE traded up $0.02 during mid-day trading on Friday, reaching $4.32. 2,714,988 shares of the company were exchanged, compared to its average volume of 3,554,335. HIVE Digital Technologies has a 52 week low of $2.18 and a 52 week high of $5.74. The company has a quick ratio of 7.35, a current ratio of 5.56 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $547.91 million, a PE ratio of -30.75 and a beta of 3.43. The company’s 50 day moving average price is $3.51 and its 200 day moving average price is $3.20.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on HIVE shares. B. Riley started coverage on HIVE Digital Technologies in a research note on Friday, July 19th. They set a “buy” rating and a $6.00 price objective on the stock. Canaccord Genuity Group lifted their price target on HIVE Digital Technologies from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Thursday. Cantor Fitzgerald initiated coverage on HIVE Digital Technologies in a report on Tuesday, October 29th. They set an “overweight” rating and a $9.00 price target for the company. Northland Securities increased their price objective on shares of HIVE Digital Technologies from $5.50 to $7.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Northland Capmk raised shares of HIVE Digital Technologies to a “strong-buy” rating in a research report on Thursday, September 19th. One analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.