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

HIVE Digital Technologies (NASDAQ:HIVE) posted 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. HIVE Digital Technologies had a negative net margin of 12.04% and a negative return on equity of 10.78%. The firm had revenue of $22.65 million for the quarter, compared to analyst estimates of $25.32 million. During the same quarter in the previous year, the business posted ($0.29) earnings per share.

HIVE Digital Technologies Price Performance

NASDAQ:HIVE traded up $0.02 during trading hours on Friday, reaching $4.32. The company had a trading volume of 2,541,302 shares, compared to its average volume of 3,553,553. The stock has a 50-day moving average of $3.51 and a two-hundred 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 one year low of $2.18 and a one year high of $5.74. The firm has a market capitalization of $547.91 million, a PE ratio of -30.75 and a beta of 3.43.

Analyst Ratings Changes

HIVE has been the subject of a number of recent analyst reports. Northland Capmk upgraded HIVE Digital Technologies to a “strong-buy” rating in a research report on Thursday, September 19th. HC Wainwright boosted their price target on HIVE Digital Technologies from $5.00 to $8.00 and gave the company a “buy” rating in a research note on Thursday. Canaccord Genuity Group raised their target price on HIVE Digital Technologies from $6.00 to $7.00 and gave the company a “buy” rating in a report on Thursday. Northland Securities raised their target price 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. Finally, Cantor Fitzgerald started coverage on HIVE Digital Technologies in a research report on Tuesday, October 29th. They issued an “overweight” rating and a $9.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $7.17.

About HIVE Digital Technologies

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.