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

HIVE Digital Technologies (NASDAQ:HIVE) released its quarterly earnings results 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 company 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 quarter in the prior year, the company posted ($0.29) EPS.

HIVE Digital Technologies Trading Up 0.5 %

Shares of NASDAQ HIVE traded up $0.02 during midday trading on Friday, hitting $4.32. The stock had a trading volume of 2,714,988 shares, compared to its average volume of 3,554,335. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.56 and a quick ratio of 7.35. HIVE Digital Technologies has a fifty-two week low of $2.18 and a fifty-two week high of $5.74. The company’s 50-day simple moving average is $3.51 and its 200 day simple moving average is $3.20. The firm has a market cap of $547.91 million, a P/E ratio of -30.75 and a beta of 3.43.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on HIVE. B. Riley initiated coverage on HIVE Digital Technologies in a research note on Friday, July 19th. They set a “buy” rating and a $6.00 price target for the company. HC Wainwright raised their price objective on HIVE Digital Technologies from $5.00 to $8.00 and gave the stock a “buy” rating in a research report on Thursday. Canaccord Genuity Group raised their price objective on HIVE Digital Technologies from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday. Cantor Fitzgerald initiated coverage on HIVE Digital Technologies in a research report on Tuesday, October 29th. They issued an “overweight” rating and a $9.00 price objective for the company. Finally, Northland Capmk upgraded HIVE Digital Technologies to a “strong-buy” rating in a research report on Thursday, September 19th. One 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 company’s stock. According to data from MarketBeat, HIVE Digital Technologies 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.