HIVE Digital Technologies (NASDAQ:HIVE) Issues Quarterly Earnings Results, Beats Estimates By $0.03 EPS

HIVE Digital Technologies (NASDAQ:HIVE) announced its earnings results 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. The company had revenue of $22.65 million for the quarter, compared to analyst estimates of $25.32 million. HIVE Digital Technologies had a negative net margin of 12.04% and a negative return on equity of 10.78%. During the same period in the prior year, the business earned ($0.29) earnings per share.

HIVE Digital Technologies Price Performance

NASDAQ:HIVE traded up $0.02 during trading hours on Friday, hitting $4.32. The company’s stock had a trading volume of 2,435,986 shares, compared to its average volume of 3,552,408. HIVE Digital Technologies has a twelve month low of $2.18 and a twelve month high of $5.74. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.56 and a quick ratio of 7.35. The stock has a fifty day simple moving average of $3.51 and a 200-day simple moving average of $3.20. The company has a market capitalization of $547.91 million, a P/E ratio of -30.75 and a beta of 3.43.

Wall Street Analyst Weigh In

HIVE has been the topic of several research reports. Canaccord Genuity Group upped 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. Northland Securities raised their target price on shares of HIVE Digital Technologies from $5.50 to $7.00 and gave the company an “outperform” rating in a research note on Thursday. Northland Capmk raised shares of HIVE Digital Technologies to a “strong-buy” rating in a research note on Thursday, September 19th. HC Wainwright raised their price objective on shares of HIVE Digital Technologies from $5.00 to $8.00 and gave the company a “buy” rating in a research note on Thursday. Finally, B. Riley initiated coverage on HIVE Digital Technologies in a research note on Friday, July 19th. They issued a “buy” rating and a $6.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.