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

HIVE Digital Technologies (NASDAQ:HIVE) posted 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 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 net margin of 12.04% and a negative return on equity of 10.78%. During the same quarter in the prior year, the company earned ($0.29) EPS.

HIVE Digital Technologies Stock Up 1.9 %

NASDAQ HIVE traded up $0.08 on Friday, hitting $4.38. 1,739,813 shares of the stock traded hands, compared to its average volume of 3,549,037. The company has a current ratio of 5.56, a quick ratio of 7.35 and a debt-to-equity ratio of 0.06. The stock has a 50-day moving average of $3.51 and a 200 day moving average of $3.20. HIVE Digital Technologies has a twelve month low of $2.18 and a twelve month high of $5.74. The company has a market capitalization of $555.52 million, a P/E ratio of -30.75 and a beta of 3.43.

Analyst Ratings Changes

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