HIVE Digital Technologies Ltd. (NASDAQ:HIVE) price closed lower on Friday, September 15, dropping -3.07% below its previous close.
A look at the daily price movement shows that the last close reads $3.26, with intraday deals fluctuated between $3.12 and $3.27. The company’s 5Y monthly beta was ticking 4.43. Taking into account the 52-week price action we note that the stock hit a 52-week high of $6.84 and 52-week low of $1.36. The stock subtracted -24.04% on its value in the past month.
HIVE Digital Technologies Ltd., which has a market valuation of $379.71 million, is expected to release its quarterly earnings report Nov 13, 2023 – Nov 17, 2023. Analysts tracking HIVE have forecast the quarterly EPS to shrink by -0.19 per share this quarter, while the same analysts predict the annual EPS to hit -$0.73 for the year 2023 and up to $0 for 2025.
On average, analysts have forecast the company’s revenue for the quarter will hit $23.85 million, with the likely lows of $23.4 million and highs of $24.3 million. The average estimate suggests sales growth for the quarter will likely fall by -16.60% when compared to those recorded in the same quarter in the last financial year. Staying with the analyst view, there is a consensus estimate of $115.72 million for the company’s annual revenue in 2024. Per this projection, the revenue is forecast to grow 8.80% above that which the company brought in 2024.
Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give HIVE a short term outlook of 50% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 50% Buy, while an average of long term indicators are currently assigning the stock as 50% Sell.
The overview shows that HIVE’s price is at present -9.96% off the SMA20 and -29.90% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 35.33, with weekly volatility standing at 6.68%. The indicator jumps to 7.55% when calculated based on the past 30 days. HIVE Digital Technologies Ltd. (NASDAQ:HIVE)’s beta value is holding at 3.71, while the average true range (ATR) indicator is currently reading 0.27.
Turning out attention to how the HIVE Digital Technologies Ltd. stock has performed in comparison to its peers in the industry, here’s what we find: HIVE’s stock is -3.07% on the day and -30.55% in the past 12 months. Another comparison is with Omnicell Inc. (OMCL) whose stock price was up 2.43% in the last trading session, and has flourished -42.95% over the past year. Also, PDF Solutions Inc. (PDFS) showed down trend of -6.05% while its price kept floating at 25.43% over the past year. Elsewhere in the market, the S&P 500 Index has stumbled -1.22% in last trading session, with the Dow Jones Industrial also saw a negative session on the day with -0.83%.
An analysis of the HIVE Digital Technologies Ltd. (NASDAQ:HIVE) stock in terms of its daily trading volume indicates that the 3-month average is 1.64 million. However, this figure increases on the past 10-day timeline to an average of 0.89 million.
Current records show that the company has 120.16M in outstanding shares. The insiders’ percentage holdings are 0.32% of outstanding shares while the percentage share held by institutions stands at 16.17%. The stats also highlight that short interest as of Aug 30, 2023, stood at 3.7 million shares, which puts the short ratio at the time at 3.02. From this we can glean that short interest is 4.33% of company’s current outstanding shares. Notably, we see that shares short in August rose slightly given the previous month’s figure stood at 3.34 million. But the 119.44% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.