HIVE Digital Technologies Ltd. [NASDAQ: HIVE] jumped around 0.06 points on Tuesday, while shares priced at $4.33 at the close of the session, up 1.41%. The company report on February 22, 2024 at 6:00 AM that RETRANSMISSION: HIVE Announces Purchase of 1,000 New Energy Efficient Bitmain S21 Antminers for Immediate Delivery and HODL Increase to 2,070 Bitcoin.
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 22, 2024) – HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (the “Company” or “HIVE”) is pleased to announce the purchase of 1,000 Bitmain S21 Antminers (the “S21”), which would provide 200 petahash per second (“PH/s”) of high efficiency Bitcoin mining capacity. The S21 is the newest and most efficient Bitmain Bitcoin mining ASIC system, boasting 17.5 joules per Terahash (“J/TH”). Additionally, HIVE now has 2,070 Bitcoin on the balance sheet as of February 21, 2024.
Compared to the average trading volume of 4.11M shares, HIVE reached a trading volume of 4186976 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. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price to Buy. The new note on the price target was released on January 31, 2023, representing the official price target for HIVE Digital Technologies Ltd. stock. Previously, the target price had yet another raise to $3.75, while Stifel analysts kept a Buy rating on HIVE stock.
The Average True Range (ATR) for HIVE Digital Technologies Ltd. is set at 0.34, with the Price to Sales ratio for HIVE stock in the period of the last 12 months amounting to 4.54. The Price to Book ratio for the last quarter was 2.23, with the Price to Cash per share for the same quarter was set at 0.96.
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 1.88. With this latest performance, HIVE shares gained by 29.64% in over the last four-week period, additionally plugging by 25.51% over the last 6 months – not to mention a rise of 52.46% 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 59.48, with the RSI for the last a single of trading hit 62.18, and the three-weeks RSI is set at 57.26 for HIVE Digital Technologies Ltd. [HIVE]. The present Moving Average for the last 50 days of trading for this stock 3.90, while it was recorded at 4.12 for the last single week of trading, and 3.73 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 3.51 and a Current Ratio set at 3.51.
Earnings analysis for HIVE Digital Technologies Ltd. [HIVE]
With the latest financial reports released by the company, HIVE Digital Technologies Ltd. posted -0.16/share EPS, while the average EPS was predicted by analysts to be reported at -0.29/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 44.80%. 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%.
