HIVE Blockchain Technologies Ltd. [HIVE] Stock trading around $1.16 per share: What’s Next?

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HIVE Blockchain Technologies Ltd. [NASDAQ: HIVE] stock went on a downward path that fall over -17.14% on Monday, amounting to a one-week price decrease of less than -23.18%. The company report on May 4, 2022 that HIVE Blockchain Provides April 2022 Production 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. – May 4, 2022) – HIVE Blockchain Technologies Ltd. (TSX.V: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 April 2022, with a BTC HODL balance of 2,832 Bitcoin and 15,914 Ethereum as of May 2, 2022. In addition, the Company is providing an update on our continued operational scaling with renewable green energy.

Over the last 12 months, HIVE stock dropped by -62.52%.

The market cap for the stock reached $640.56 million, with 388.43 million shares outstanding and 369.72 million shares in the current float. Compared to the average trading volume of 7.80M shares, HIVE stock reached a trading volume of 8410673 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 2.61. The Price to Book ratio for the last quarter was 0.81, with the Price to Cash per share for the same quarter was set at 0.60.

HIVE Stock Performance Analysis:

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 -23.18. With this latest performance, HIVE shares dropped by -38.95% in over the last four-week period, additionally sinking by -73.76% over the last 6 months – not to mention a drop of -62.52% 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 27.15, with the RSI for the last a single of trading hit 21.76, and the three-weeks RSI is set at 31.66 for HIVE Blockchain Technologies Ltd. [HIVE]. The present Moving Average for the last 50 days of trading for this stock 1.8250, while it was recorded at 1.4280 for the last single week of trading, and 2.6602 for the last 200 days.

Insight into HIVE Blockchain Technologies Ltd. Fundamentals:

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.

HIVE Blockchain Technologies Ltd. [HIVE] Insider Position Details

There are presently around $35 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 $4.35 million in HIVE stocks shares; and FMR LLC, currently with $3.54 million in HIVE stock with ownership of nearly 0.789% of the company’s market capitalization.

54 institutional holders increased their position in HIVE Blockchain Technologies Ltd. [NASDAQ:HIVE] by around 8,514,001 shares. Additionally, 36 investors decreased positions by around 12,630,616 shares, while 29 investors held positions by with 9,403,855 shares. The mentioned changes placed institutional holdings at 30,548,472 shares, according to the latest SEC report filing. HIVE stock had 31 new institutional investments in for a total of 5,204,678 shares, while 26 institutional investors sold positions of 2,961,753 shares during the same period.