Market Analysts see HIVE Blockchain Technologies Ltd. [HIVE] gaining to $3.75. Time to buy?

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HIVE Blockchain Technologies Ltd. [NASDAQ: HIVE] closed the trading session at $1.51 on 05/02/22. The day’s price range saw the stock hit a low of $1.435, while the highest price level was $1.53. The company report on April 6, 2022 that RETRANSMISSION: HIVE Blockchain Provides March 2022 Production and Intel Update.

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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. – April 6, 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 March 2022, with a BTC HODL balance of 2,568 Bitcoin and 16,196 Ethereum as of April 3, 2022. In addition to this the Company is pleased to announce two milestone accomplishments of reaching 2 Exahash of Bitcoin mining and 6 Terahash of Ethereum mining this month.

The stocks have a year to date performance of -42.80 percent and weekly performance of -10.12 percent. The stock has been moved at -57.34 percent over the last six months. The stock has performed -29.11 percent around the most recent 30 days and changed -24.12 percent over the most recent 3-months.

If compared to the average trading volume of 8.06M shares, HIVE reached to a volume of 8874342 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 0.13, with the Price to Sales ratio for HIVE stock in the period of the last 12 months amounting to 3.52. The Price to Book ratio for the last quarter was 1.06, with the Price to Cash per share for the same quarter was set at 0.58.

HIVE stock trade performance evaluation

HIVE Blockchain Technologies Ltd. [HIVE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.12. With this latest performance, HIVE shares dropped by -29.11% in over the last four-week period, additionally sinking by -57.34% over the last 6 months – not to mention a drop of -59.52% 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 36.07, with the RSI for the last a single of trading hit 33.22, and the three-weeks RSI is set at 38.68 for HIVE Blockchain Technologies Ltd. [HIVE]. The present Moving Average for the last 50 days of trading for this stock 1.8716, while it was recorded at 1.5420 for the last single week of trading, and 2.6790 for the last 200 days.

HIVE Blockchain Technologies Ltd. [HIVE]: An insightful look at the core fundamentals

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.

HIVE Blockchain Technologies Ltd. [HIVE]: Insider Ownership positions

There are presently around $46 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 $5.66 million in HIVE stocks shares; and FMR LLC, currently with $4.61 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 June and at the time of the June reporting period, where 55 institutional holders increased their position in HIVE Blockchain Technologies Ltd. [NASDAQ:HIVE] by around 8,573,037 shares. Additionally, 36 investors decreased positions by around 12,556,519 shares, while 27 investors held positions by with 9,476,193 shares. The mentioned changes placed institutional holdings at 30,605,749 shares, according to the latest SEC report filing. HIVE stock had 33 new institutional investments in for a total of 5,264,612 shares, while 25 institutional investors sold positions of 2,903,539 shares during the same period.