HIVE Digital Technologies (NASDAQ:HIVE) Issues Quarterly Earnings Results

HIVE Digital Technologies (NASDAQ:HIVE) released its quarterly earnings results on Tuesday. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.05, Zacks reports. HIVE Digital Technologies had a negative return on equity of 10.78% and a negative net margin of 12.04%.

HIVE Digital Technologies Price Performance

HIVE traded down $0.11 during midday trading on Tuesday, hitting $2.72. The company had a trading volume of 12,555,550 shares, compared to its average volume of 11,080,705. HIVE Digital Technologies has a twelve month low of $2.18 and a twelve month high of $5.54. The firm’s 50-day simple moving average is $3.25 and its 200-day simple moving average is $3.38. The company has a market capitalization of $402.75 million, a PE ratio of -19.43 and a beta of 3.46. The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.56 and a current ratio of 5.56.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on HIVE shares. Cantor Fitzgerald restated an “overweight” rating and set a $9.00 price objective on shares of HIVE Digital Technologies in a research note on Tuesday, November 19th. Northland Securities boosted their price objective on shares of HIVE Digital Technologies from $5.50 to $7.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Keefe, Bruyette & Woods began coverage on shares of HIVE Digital Technologies in a report on Wednesday, January 8th. They issued an “outperform” rating on the stock. Roth Mkm started coverage on HIVE Digital Technologies in a report on Thursday, December 19th. They set a “buy” rating and a $7.50 target price for the company. Finally, Canaccord Genuity Group increased their price target on HIVE Digital Technologies from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $7.58.

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.