Future Outlook And Stock Price Trends Among HIVE Digital Technologies Ltd. Stocks (NASDAQ: HIVE)

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In the last trading session, 2.3 million shares of the HIVE Digital Technologies Ltd. (NASDAQ:HIVE) were traded, and its beta was 3.60. Most recently the company’s share price was $3.20, and it changed around -$0.15 or -4.48% from the last close, which brings the market valuation of the company to $334.72M. HIVE currently trades at a discount to its 52-week high of $6.84, offering almost -113.75% off that amount. The share price’s 52-week low was $2.75, which indicates that the current value has risen by an impressive 14.06% since then. We note from HIVE Digital Technologies Ltd.’s average daily trading volume that its 10-day average is 2.77 million shares, with the 3-month average coming to 3.25 million.

HIVE Digital Technologies Ltd. stock received a consensus recommendation rating of Hold, based on a mean score of 1.67. If we narrow it down even further, the data shows that 1 out of 6 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 2 recommended HIVE as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. HIVE Digital Technologies Ltd. is expected to report earnings per share of -$0.14 for the current quarter.

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HIVE Digital Technologies Ltd. (NASDAQ:HIVE) trade information

Instantly HIVE has showed a red trend with a performance of -4.48% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -29.36% year-to-date, but still up 0.31% over the last five days. On the other hand, HIVE Digital Technologies Ltd. (NASDAQ:HIVE) is -17.31% down in the 30-day period. We can see from the shorts that 6.08 million shares have been sold at a short interest cover period of 1.89 day(s).

HIVE Digital Technologies Ltd. (HIVE) estimates and forecasts

HIVE Digital Technologies Ltd. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 3.90 percent over the past six months and at a 66.45% annual growth rate that is well above the industry average of 11.90%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 12.50% in revenue this quarter, and will report a decrease of -31.60% in the next quarter. The year-over-year growth rate is expected to be 5.50%, up from the previous year.

Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $34.68 million in revenue for the current quarter. 2 analysts expect HIVE Digital Technologies Ltd. to make $24.1 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $18.22 million and $22.1 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 90.30%. Forecasts for the next quarter put sales growth at 9.00%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -32.45%.

HIVE Dividends

HIVE Digital Technologies Ltd.’s next quarterly earnings report is expected to be released on February 13.

HIVE Digital Technologies Ltd. (NASDAQ:HIVE)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.24% of HIVE Digital Technologies Ltd. shares, and 20.66% of them are in the hands of institutional investors. The stock currently has a share float of 20.70%. HIVE Digital Technologies Ltd. stock is held by 119 institutions, with Invesco Ltd. being the largest institutional investor. By Jun 29, 2023, it held 3.28% of the shares, which is about 2.84 million shares worth $13.14 million.

Toroso Investments, LLC, with 3.25% or 2.81 million shares worth $13.02 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Amplify Transformational Data Sharing ETF and SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF were the top two Mutual Funds as of Jul 30, 2023. The former held 3.8 million shares worth $20.62 million, making up 4.40% of all outstanding shares. On the other hand, SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF held roughly 1.31 million shares worth around $4.8 million, which represents about 1.52% of the total shares outstanding.