HIVE Digital Technologies Ltd (NASDAQ:HIVE) shares, rose in value, with the stock price up by 0.80% to the previous day’s close as strong demand from buyers drove the stock to $3.13.
Actively observing the price movement in the recent trading, the stock is buoying the session at $3.11, falling within a range of $3.09 and $3.17. Referring to stock’s 52-week performance, its high was $5.54, and the low was $2.18. On the whole, HIVE has fluctuated by 0.16% over the past month.
With the market capitalization of HIVE Digital Technologies Ltd currently standing at about $404.54 million, investors are eagerly awaiting this quarter’s results, scheduled for in February.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 116.28M, with a low estimate of 24.6M and a high estimate of 31.2M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 28.14M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that HIVE’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium-term indicators have put the stock in the category of 50% Buy while long-term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the price of HIVE currently trading nearly 1.51% and -14.44% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 45.31, while the 7-day volatility ratio is showing 6.53% which for the 30-day chart, stands at 6.54%. Furthermore, HIVE Digital Technologies Ltd (HIVE)’s beta value is 4.02, and its average true range (ATR) is 0.23.
A comparison of HIVE Digital Technologies Ltd (HIVE) with its peers suggests the former has fared considerably weaker in the market. HIVE showed an intraday change of 0.80% in today’s session so far, and over the past year, it grew by 3.81%%.
Data on historical trading for HIVE Digital Technologies Ltd (NASDAQ:HIVE) indicates that the trading volumes over the past 10 days have averaged 9.36 and over the past 3 months, they’ve averaged 8.14 million. According to company’s latest data on outstanding shares, there are 129.04 million shares outstanding.
Nearly 0.60% of HIVE Digital Technologies Ltd’s shares belong to company insiders and institutional investors own 23.51% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 3.96 million shares as on 2024-12-31, resulting in a short ratio of 0.43. The stock has risen by 10.00% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the HIVE stock heading into the next quarter.
