HIVE Digital Technologies (NASDAQ:HIVE) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

HIVE Digital Technologies (NASDAQ:HIVE) announced its earnings results on Monday. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate 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%

HIVE Digital Technologies stock traded up $0.03 during mid-day trading on Monday, hitting $1.81. The company’s stock had a trading volume of 14,428,348 shares, compared to its average volume of 17,871,449. The stock’s fifty day moving average is $2.60 and its two-hundred day moving average is $2.80. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $499.97 million, a PE ratio of -1.40 and a beta of 3.76. HIVE Digital Technologies has a 1 year low of $1.58 and a 1 year high of $5.34.

Insider Buying and Selling

In other news, Director Dave Perrill sold 12,500 shares of the company’s stock in a transaction on Wednesday, October 7th. The stock was sold at an average price of $2.75, for a total value of $34,375.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 9.44% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently commented on the company. Wall Street Zen downgraded HIVE Digital Technologies from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 12th. Chardan Capital reiterated a “buy” rating and issued a $7.50 target price on shares of HIVE Digital Technologies in a research report on Wednesday, September 16th. Canaccord Genuity Group restated a “buy” rating and set a $10.00 price target on shares of HIVE Digital Technologies in a research report on Monday, October 19th. Rosenblatt Securities raised their target price on shares of HIVE Digital Technologies from $5.50 to $6.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price target on shares of HIVE Digital Technologies in a report on Monday, August 17th. Six equities research 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.95.

HIVE Digital Technologies Company Profile

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.