HIVE Digital Technologies Ltd. [NASDAQ: HIVE] traded at a high on Thursday, posting a 9.97 gain after which it closed the day’ session at $3.42. The company report on February 9, 2024 at 1:00 AM that HIVE Digital Provides January 2024 Production Update Increasing Bitcoin HODL by 14%.
This news release constitutes a “designated news release” for the purposes of the Company’s amended and restated prospectus supplement dated August 17, 2023, to its short form base shelf prospectus dated May 1, 2023.
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Vancouver, British Columbia–(Newsfile Corp. – February 9, 2024) – HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (the “Company” or “HIVE”) is pleased to announce the unaudited production figures from the Company’s global Bitcoin operations for the month of January 2024, with 234.6 Bitcoin produced in January. The Company has maintained over 3.88 Exahash (“EH/s”) of Bitcoin mining capacity on average for January 2024, including ASIC and GPU BTC hashrate (all amounts in US dollars, unless otherwise indicated).
The results of the trading session contributed to over 3146590 shares changing hands. Over the past one week, the price volatility of HIVE Digital Technologies Ltd. stands at 5.55% while the volatility over the past one month is 8.16%.
The market cap for HIVE stock reached $299.69 million, with 87.63 million shares outstanding and 87.19 million shares in the current float. Compared to the average trading volume of 3.60M shares, HIVE reached a trading volume of 3146590 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say 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 $6.17 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 0.30, with the Price to Sales ratio for HIVE stock in the period of the last 12 months amounting to 3.80. The Price to Book ratio for the last quarter was 2.40, with the Price to Cash per share for the same quarter was set at 0.62.
How has HIVE stock performed recently?
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 5.56. With this latest performance, HIVE shares dropped by -18.57% in over the last four-week period, additionally sinking by -26.29% over the last 6 months – not to mention a drop of -4.74% 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 49.24, with the RSI for the last a single of trading hit 53.98, and the three-weeks RSI is set at 48.38 for HIVE Digital Technologies Ltd. [HIVE]. The present Moving Average for the last 50 days of trading for this stock 3.77, while it was recorded at 3.15 for the last single week of trading, and 3.67 for the last 200 days.
HIVE Digital Technologies Ltd. [HIVE]: Deeper insight into the fundamentals
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.
Earnings analysis for HIVE Digital Technologies Ltd. [HIVE]
With the latest financial reports released by the company, HIVE Digital Technologies Ltd. posted -1.09/share EPS, while the average EPS was predicted by analysts to be reported at 0.02/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -5,550.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HIVE.
Insider trade positions for 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 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in HIVE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in HIVE stock with ownership which is approximately 5.8325%.
