HIVE Digital Technologies Ltd (NASDAQ:HIVE) price on Wednesday, February 05, fall -2.74% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $2.84.
A look at the stock’s price movement, the close in the last trading session was $2.92, moving within a range at $2.84 and $2.98. Turning to its 52-week performance, $5.54 and $2.18 were the 52-week high and 52-week low respectively. Overall, HIVE moved -14.20% over the past month.
HIVE Digital Technologies Ltd’s market cap currently stands at around $366.47 million, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 28.24M for the company’s revenue for the quarter, with a low and high estimate of 24.55M and 31.2M respectively. The average forecast suggests down to a -9.65% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 117.54M, representing a 2.68% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that HIVE is a 100% Sell. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
3 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 2 recommend HIVE as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
HIVE’s current price about -5.65% and -16.29% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 40.29, while 7-day volatility ratio is 7.83% and 6.94% in the 30-day chart. Further, HIVE Digital Technologies Ltd (HIVE) has a beta value of 4.47, and an average true range (ATR) of 0.23. Analysts have given the company’s stock an average 52-week price target of $6.5, forecast between a low of $5 and high of $9. Looking at the price targets, the low is -76.06% off current price level while to achieve the yearly target high, price needs to move -216.9%. Nonetheless, investors will most likely welcome a -128.87% jump to $6.5 which is the analysts’ median price.
If we refocus on HIVE Digital Technologies Ltd (NASDAQ:HIVE), historical trading data shows that trading volumes averaged 12.28 over the past 10 days and 9.20 million over the past 3 months. The company’s latest data on shares outstanding shows there are 129.04 million shares.
The 0.60% of HIVE Digital Technologies Ltd’s shares are in the hands of company insiders while institutional holders own 24.15% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 4.25 million on 2025-01-15, giving us a short ratio of 0.43. Current price change has pushed the stock -0.35% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the HIVE stock continues to rise going into the next quarter.
