HIVE Blockchain Technologies Ltd. [NASDAQ: HIVE] gained 8.49% or 0.18 points to close at $2.30 with a heavy trading volume of 10702824 shares. The company report on March 8, 2022 that RETRANSMISSION: HIVE Blockchain Provides Update on February 2022 Production and At-The-Market Offering and Conclusion of Canadian At-The-Market Offering.
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This news release constitutes a “designated news release” for the purposes of the Company’s prospectus supplement dated February 2, 2021 to its amended and restated short form base shelf prospectus dated January 4, 2022.
Vancouver, British Columbia–(Newsfile Corp. – March 8, 2022) – HIVE Blockchain Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: HBF) (the “Company” or “HIVE”) is pleased to announce the production figures from the Company’s global Bitcoin and Ethereum mining operations for the month of February 2022, with a BTC HODL balance of 2,374 Bitcoin as of February 28, 2022. The Company is also providing an update on its at-the-market offering, and conclusion of the Canadian at-the-market agreement.
It opened the trading session at $2.24, the shares rose to $2.34 and dropped to $2.19, the range by which the price of stock traded the whole day. The daily chart for HIVE points out that the company has recorded -19.58% loss over the past six months. However, it is still -53.33% lower than its most recent low trading price.
If we look at the average trading volume of 8.79M shares, HIVE reached to a volume of 10702824 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about HIVE Blockchain Technologies Ltd. [HIVE]:
Stifel have made an estimate for HIVE Blockchain Technologies Ltd. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 25, 2022. While these analysts kept the previous recommendation, Canaccord Genuity raised their target price to Buy. The new note on the price target was released on March 25, 2022, representing the official price target for HIVE Blockchain Technologies Ltd. stock.
The Average True Range (ATR) for HIVE Blockchain Technologies Ltd. is set at 0.17, with the Price to Sales ratio for HIVE stock in the period of the last 12 months amounting to 5.03. The Price to Book ratio for the last quarter was 1.65, with the Price to Cash per share for the same quarter was set at 0.62.
Trading performance analysis for HIVE stock
HIVE Blockchain Technologies Ltd. [HIVE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 19.17. With this latest performance, HIVE shares gained by 20.42% in over the last four-week period, additionally sinking by -19.58% over the last 6 months – not to mention a drop of -33.14% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HIVE stock in for the last two-week period is set at 61.61, with the RSI for the last a single of trading hit 68.19, and the three-weeks RSI is set at 56.68 for HIVE Blockchain Technologies Ltd. [HIVE]. The present Moving Average for the last 50 days of trading for this stock 1.98, while it was recorded at 2.13 for the last single week of trading, and 2.76 for the last 200 days.
HIVE Blockchain Technologies Ltd. [HIVE]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and HIVE Blockchain Technologies Ltd. [HIVE] shares currently have an operating margin of +48.56 and a Gross Margin at +58.75. HIVE Blockchain Technologies Ltd.’s Net Margin is presently recorded at +63.78.
Return on Total Capital for HIVE is now 34.95, given the latest momentum, and Return on Invested Capital for the company is 48.69. Return on Equity for this stock inclined to 56.51, with Return on Assets sitting at 42.36. When it comes to the capital structure of this company, HIVE Blockchain Technologies Ltd. [HIVE] has a Total Debt to Total Equity ratio set at 22.97. Additionally, HIVE Total Debt to Total Capital is recorded at 18.68, with Total Debt to Total Assets ending up at 17.32. Long-Term Debt to Equity for the company is recorded at 18.28, with the Long-Term Debt to Total Capital now at 14.87.
Reflecting on the efficiency of the workforce at the company, HIVE Blockchain Technologies Ltd. [HIVE] managed to generate an average of $2,959,963 per employee. Receivables Turnover for the company is 8.18 with a Total Asset Turnover recorded at a value of 0.66.HIVE Blockchain Technologies Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 17.50 and a Current Ratio set at 17.50.
An analysis of insider ownership at HIVE Blockchain Technologies Ltd. [HIVE]
There are presently around $71 million, or 10.20% of HIVE stock, in the hands of institutional investors. The top three institutional holders of HIVE stocks are: INVESCO LTD. with ownership of 12,459,316, which is approximately -40.791% of the company’s market cap and around 10.38% of the total institutional ownership; MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., holding 3,746,967 shares of the stock with an approximate value of $7.94 million in HIVE stocks shares; and FMR LLC, currently with $6.47 million in HIVE stock with ownership of nearly 0.789% of the company’s market capitalization.
Positions in HIVE Blockchain Technologies Ltd. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 68 institutional holders increased their position in HIVE Blockchain Technologies Ltd. [NASDAQ:HIVE] by around 10,568,424 shares. Additionally, 24 investors decreased positions by around 9,765,277 shares, while 24 investors held positions by with 13,105,921 shares. The mentioned changes placed institutional holdings at 33,439,622 shares, according to the latest SEC report filing. HIVE stock had 44 new institutional investments in for a total of 6,740,702 shares, while 12 institutional investors sold positions of 93,893 shares during the same period.