Wall Street Analyst Initiated HIVE Blockchain Technologies Ltd. [HIVE]. What else is Wall St. saying

HIVE Blockchain Technologies Ltd. [NASDAQ: HIVE] loss -4.12% on the last trading session, reaching $4.89 price per share at the time. The company report on August 16, 2022 that HIVE Announces Quarterly Revenue of $44.2 Million up 13% From The Same Quarter Last Year and Earnings for our 1st Quarter Ended June 30, 2022.

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Vancouver, British Columbia–(Newsfile Corp. – August 16, 2022) – HIVE Blockchain Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: HBFA) (the “Company” or “HIVE”) is pleased to announce the earnings report for the first quarter ended June 30, 2022 (all amounts in US dollars, unless otherwise indicated).

We achieved strong gross mining margin of $27.0 million for the quarter, a 18% increase over the prior quarter of $22.9 million. This fiscal achievement was driven by our global Bitcoin and Ethereum mining operations which experienced significant hashrate growth during this period. In addition to the Company’s expansions, HIVE maintains the best operational uptime amongst all its peers, with HIVE repeatedly emerging at the most efficient crypto-miner based on digital assets mined per Exahash (commonly measured as quantity of mined Bitcoin per Exahash of reported hashrate).

HIVE Blockchain Technologies Ltd. represents 126.62 million in outstanding shares, while the company has a total market value of $619.17 million with the latest information. HIVE stock price has been found in the range of $4.8505 to $5.19.

If compared to the average trading volume of 2.05M shares, HIVE reached a trading volume of 1943908 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]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HIVE shares is $5.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HIVE stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

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 0.54, with the Price to Sales ratio for HIVE stock in the period of the last 12 months amounting to 2.28. The Price to Book ratio for the last quarter was 1.20, with the Price to Cash per share for the same quarter was set at 0.85.

Trading performance analysis for HIVE stock

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 -22.63. With this latest performance, HIVE shares gained by 25.06% in over the last four-week period, additionally sinking by -49.33% over the last 6 months – not to mention a drop of -69.05% 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 46.59, with the RSI for the last a single of trading hit 41.10, and the three-weeks RSI is set at 48.91 for HIVE Blockchain Technologies Ltd. [HIVE]. The present Moving Average for the last 50 days of trading for this stock 4.30, while it was recorded at 5.14 for the last single week of trading, and 9.00 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 +37.04 and a Gross Margin at +45.48. HIVE Blockchain Technologies Ltd.’s Net Margin is presently recorded at +37.99.

Return on Equity for this stock inclined to 30.49, with Return on Assets sitting at 25.31.

HIVE Blockchain Technologies Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.10 and a Current Ratio set at 3.10.

An analysis of insider ownership at HIVE Blockchain Technologies Ltd. [HIVE]

There are presently around $33 million, or 9.34% of HIVE stock, in the hands of institutional investors. The top three institutional holders of HIVE stocks are: INVESCO LTD. with ownership of 2,493,050, which is approximately 13.917% of the company’s market cap and around 9.64% of the total institutional ownership; MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., holding 912,543 shares of the stock with an approximate value of $4.46 million in HIVE stocks shares; and VAN ECK ASSOCIATES CORP, currently with $3.24 million in HIVE stock with ownership of nearly 43.247% of the company’s market capitalization.

43 institutional holders increased their position in HIVE Blockchain Technologies Ltd. [NASDAQ:HIVE] by around 1,752,244 shares. Additionally, 59 investors decreased positions by around 1,187,507 shares, while 20 investors held positions by with 3,709,037 shares. The mentioned changes placed institutional holdings at 6,648,788 shares, according to the latest SEC report filing. HIVE stock had 23 new institutional investments in for a total of 681,024 shares, while 50 institutional investors sold positions of 970,465 shares during the same period.


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