HIVE Digital Technologies (NASDAQ:HIVE) Issues Quarterly Earnings Results, Beats Estimates By $0.03 EPS

HIVE Digital Technologies (NASDAQ:HIVE) issued its quarterly earnings results on Tuesday. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.03, Zacks reports. The company had revenue of $22.65 million during the quarter, compared to analysts’ expectations of $25.32 million. HIVE Digital Technologies had a negative net margin of 12.04% and a negative return on equity of 10.78%. During the same quarter in the previous year, the company earned ($0.29) EPS.

HIVE Digital Technologies Stock Performance

NASDAQ:HIVE traded up $0.02 during trading hours on Friday, reaching $4.32. The stock had a trading volume of 2,541,302 shares, compared to its average volume of 3,553,553. The company has a debt-to-equity ratio of 0.06, a quick ratio of 7.35 and a current ratio of 5.56. The stock has a 50 day simple moving average of $3.51 and a 200 day simple moving average of $3.20. HIVE Digital Technologies has a 12-month low of $2.18 and a 12-month high of $5.74. The stock has a market cap of $547.91 million, a P/E ratio of -30.75 and a beta of 3.43.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Canaccord Genuity Group increased their target price on HIVE Digital Technologies from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Thursday. B. Riley initiated coverage on HIVE Digital Technologies in a research report on Friday, July 19th. They issued a “buy” rating and a $6.00 target price on the stock. Cantor Fitzgerald initiated coverage on HIVE Digital Technologies in a research note on Tuesday, October 29th. They issued an “overweight” rating and a $9.00 price target for the company. Northland Capmk upgraded HIVE Digital Technologies to a “strong-buy” rating in a research note on Thursday, September 19th. Finally, Northland Securities upped their target price on HIVE Digital Technologies from $5.50 to $7.00 and gave the company an “outperform” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $7.17.

About HIVE Digital Technologies

HIVE Digital Technologies Ltd. operates as a cryptocurrency mining company in Canada, Sweden, and Iceland. The company engages in the mining and sale of digital currencies, including Ethereum Classic, Bitcoin, and other coins. It also operates data centers; and offers infrastructure solutions. The company was formerly known as HIVE Blockchain Technologies Ltd.