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

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

HIVE Digital Technologies Price Performance

Shares of HIVE Digital Technologies stock traded up $0.02 during midday trading on Friday, hitting $4.32. 2,435,986 shares of the company were exchanged, compared to its average volume of 3,552,408. The firm has a 50 day simple moving average of $3.51 and a 200-day simple moving average of $3.20. HIVE Digital Technologies has a 52 week low of $2.18 and a 52 week high of $5.74. The firm has a market cap of $547.91 million, a P/E ratio of -30.75 and a beta of 3.43. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.56 and a quick ratio of 7.35.

Wall Street Analyst Weigh In

HIVE has been the subject of several research analyst reports. Cantor Fitzgerald started coverage on shares of HIVE Digital Technologies in a research report on Tuesday, October 29th. They issued an “overweight” rating and a $9.00 price target for the company. B. Riley started coverage on HIVE Digital Technologies in a research note on Friday, July 19th. They issued a “buy” rating and a $6.00 price objective on the stock. Northland Securities upped their target price on HIVE Digital Technologies from $5.50 to $7.00 and gave the stock an “outperform” rating in a research report on Thursday. Canaccord Genuity Group lifted their price target on shares of HIVE Digital Technologies from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Thursday. Finally, HC Wainwright upped their price objective on shares of HIVE Digital Technologies from $5.00 to $8.00 and gave the stock a “buy” rating in a report on Thursday. One analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average 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.