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

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

HIVE Digital Technologies Trading Up 1.9 %

Shares of HIVE stock traded up $0.08 during trading hours on Friday, hitting $4.38. 1,739,813 shares of the company were exchanged, compared to its average volume of 3,549,037. The firm has a fifty day moving average of $3.51 and a 200 day moving average of $3.20. The company has a quick ratio of 7.35, a current ratio of 5.56 and a debt-to-equity ratio of 0.06. HIVE Digital Technologies has a 1 year low of $2.18 and a 1 year high of $5.74. The firm has a market cap of $555.52 million, a PE ratio of -30.75 and a beta of 3.43.

Analyst Upgrades and Downgrades

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