In the latest trading session, 0.38 million HIVE Digital Technologies Ltd. (NASDAQ:HIVE) shares changed hands as the company’s beta touched 3.58. With the company’s most recent per share price at $3.03 changing hands around $0.03 or 0.83% at last look, the market valuation stands at $258.82M. HIVE’s current price is a discount, trading about -125.74% off its 52-week high of $6.84. The share price had its 52-week low at $1.36, which suggests the last value was 55.12% up since then. When we look at HIVE Digital Technologies Ltd.’s average trading volume, we note the 10-day average is 1.16 million shares, with the 3-month average coming to 1.11 million.
Analysts gave the HIVE Digital Technologies Ltd. (HIVE) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.00. If we narrow down to specifics, the data shows that 0 out of 2 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended HIVE as a Hold, 2 felt it is a Buy and 0 rated the stock as Underweight. HIVE Digital Technologies Ltd.’s EPS for the current quarter is expected to be -$0.23.
HIVE Digital Technologies Ltd. (NASDAQ:HIVE) trade information
Instantly HIVE is in green as seen in intraday trades today. With action 6.14%, the performance over the past five days has been green. The jump to weekly highs of 3.15 on Friday, 11/17/23 added 0.83% to the stock’s daily price. The company’s shares are showing year-to-date upside of 110.07%, with the 5-day performance at 6.14% in the green. However, in the 30-day time frame, HIVE Digital Technologies Ltd. (NASDAQ:HIVE) is 1.85% up. Looking at the short shares, we see there were 3.92 million shares sold at short interest cover period of 3.65 days.
The consensus price target for the stock as assigned by Wall Street analysts is $6.25, meaning bulls need an upside of 51.52% from its recent market value. According to analyst projections, HIVE’s forecast low is $6.00 with $6.50 as the target high. To hit the forecast high, the stock’s price needs a -114.52% plunge from its current level, while the stock would need to soar -98.02% for it to hit the projected low.
HIVE Digital Technologies Ltd. (HIVE) estimates and forecasts
Data shows that the HIVE Digital Technologies Ltd. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -1.79% over the past 6 months, a 72.26% in annual growth rate that is considerably higher than the industry average of -0.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for HIVE Digital Technologies Ltd. will rise 48.90%, while the growth in revenue is estimated to hit 83.50% for the next quarter. Year-over-year growth is forecast to reach 11.60% up from the last financial year.
Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of $23.53 million. 2 analysts are of the opinion that HIVE Digital Technologies Ltd.’s revenue for the quarter ending Dec 2023 will be $32.83 million. The company’s revenue for the corresponding quarters a year ago was $28.6 million and $14.32 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -17.70%. The estimates for the next quarter sales put growth at 129.30%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -32.45%. The 2023 estimates are for HIVE Digital Technologies Ltd. earnings to increase by 63.50%.
HIVE Digital Technologies Ltd. is expected to release its next quarterly earnings report between February 19 and February 23.
HIVE Digital Technologies Ltd. (NASDAQ:HIVE)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.32% of HIVE Digital Technologies Ltd. shares while 16.17% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 16.22%. There are 16.17% institutions holding the HIVE Digital Technologies Ltd. stock share, with Invesco Ltd. the top institutional holder. As of Sep 29, 2023, the company held 3.34% of the shares, roughly 2.92 million HIVE shares worth $8.87 million.
Toroso Investments, LLC holds the second largest percentage of outstanding shares, with 3.11% or 2.72 million shares worth $8.27 million as of Sep 29, 2023.
Among Mutual Funds, the top two as of Jul 30, 2023 were Amplify Transformational Data Sharing ETF and SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF. With 3.8 million shares estimated at $11.57 million under it, the former controlled 4.35% of total outstanding shares. On the other hand, SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF held about 1.51% of the shares, roughly 1.32 million shares worth around $4.03 million.