HIVE Digital Technologies Ltd. [HIVE] Is Currently 3.92 above its 200 Period Moving Avg: What Does This Mean?

HIVE Digital Technologies Ltd. [NASDAQ: HIVE] gained 3.92% or 0.15 points to close at $3.98 with a heavy trading volume of 5054086 shares. The company report on December 4, 2023 at 6:00 AM that RETRANSMISSION: HIVE Digital Announces New Purchase of 5,000 Bitmain S19k Pro ASIC Miners as Production Approaches 5 Exahash.

This news release constitutes a “designated news release” for the purposes of the Company’s prospectus supplement dated May 10, 2023, to its short form base shelf prospectus dated May 1, 2023.

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Vancouver, Canada–(Newsfile Corp. – December 4, 2023) – HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (the “Company” or “HIVE”), a leading digital asset miner and “green” focused data center builder and operator provides a strategic update and announces the purchase of 5,000 Bitmain S19k Pro ASIC miners (all amounts in US dollars, unless otherwise indicated).

It opened the trading session at $3.83, the shares rose to $4.2091 and dropped to $3.75, the range by which the price of stock traded the whole day. The daily chart for HIVE points out that the company has recorded 28.39% gains over the past six months. However, it is still -192.65% lower than its most recent low trading price.

If we look at the average trading volume of 1.20M shares, HIVE reached to a volume of 5054086 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 Digital 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 $5.33 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 1.67. 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.

H.C. Wainwright have made an estimate for HIVE Digital Technologies Ltd. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 20, 2023.

The Average True Range (ATR) for HIVE Digital Technologies Ltd. is set at 0.25, with the Price to Sales ratio for HIVE stock in the period of the last 12 months amounting to 4.42. The Price to Book ratio for the last quarter was 2.79, with the Price to Cash per share for the same quarter was set at 0.62.

Trading performance analysis for HIVE stock

HIVE Digital Technologies Ltd. [HIVE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 26.35. With this latest performance, HIVE shares gained by 19.16% in over the last four-week period, additionally plugging by 28.39% over the last 6 months – not to mention a rise of 80.09% 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 71.78, with the RSI for the last a single of trading hit 79.42, and the three-weeks RSI is set at 65.81 for HIVE Digital Technologies Ltd. [HIVE]. The present Moving Average for the last 50 days of trading for this stock 3.10, while it was recorded at 3.50 for the last single week of trading, and 3.51 for the last 200 days.

HIVE Digital Technologies Ltd. [HIVE]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and HIVE Digital Technologies Ltd. [HIVE] shares currently have an operating margin of -49.62 and a Gross Margin at -29.28. HIVE Digital Technologies Ltd.’s Net Margin is presently recorded at -222.37.

Return on Total Capital for HIVE is now -17.69, given the latest momentum, and Return on Invested Capital for the company is -82.44. Return on Equity for this stock declined to -91.02, with Return on Assets sitting at -75.35. When it comes to the capital structure of this company, HIVE Digital Technologies Ltd. [HIVE] has a Total Debt to Total Equity ratio set at 23.80. Additionally, HIVE Total Debt to Total Capital is recorded at 19.22, with Total Debt to Total Assets ending up at 18.06. Long-Term Debt to Equity for the company is recorded at 16.61, with the Long-Term Debt to Total Capital now at 13.42.

Reflecting on the efficiency of the workforce at the company, HIVE Digital Technologies Ltd. [HIVE] managed to generate an average of -$17,379,271 per employee. Receivables Turnover for the company is 12.44 with a Total Asset Turnover recorded at a value of 0.34.HIVE Digital Technologies Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.52 and a Current Ratio set at 2.52.

An analysis of Institutional ownership at HIVE Digital Technologies Ltd. [HIVE]

The top three institutional holders of HIVE stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in HIVE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in HIVE stock with ownership which is approximately 5.7994%.