HIVE Digital Technologies (NASDAQ:HIVE) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Key Points

• HIVE reported a quarterly loss of $0.15 per share, beating analyst expectations of a $0.16 loss by $0.01. Its net margin was -98.49% and return on equity was -31.98%.
• Shares traded at $1.81, within a 52-week range of $1.58 to $5.34; the stock was below its 50- and 200-day moving averages.
• Analysts maintain a consensus “Moderate Buy” rating and a $6.95 average price target. A company director also sold 100,000 shares for $272,000.

HIVE Digital Technologies (NASDAQ:HIVE - Get Free Report) announced its quarterly earnings results on Monday. The company reported ($0.15) earnings per share for the quarter, beating analysts' consensus estimates of ($0.16) by $0.01, Zacks reports. HIVE Digital Technologies had a negative net margin of 98.49% and a negative return on equity of 31.98%.

HIVE Digital Technologies Stock Performance

Shares of NASDAQ HIVE traded up $0.03 during midday trading on Monday, hitting $1.81. The company's stock had a trading volume of 14,428,348 shares, compared to its average volume of 17,871,449. HIVE Digital Technologies has a 1-year low of $1.58 and a 1-year high of $5.34. The firm's fifty day moving average price is $2.60 and its 200-day moving average price is $2.80. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.96 and a current ratio of 1.96. The firm has a market cap of $499.97 million, a P/E ratio of -1.40 and a beta of 3.76.

Insider Activity at HIVE Digital Technologies

In other HIVE Digital Technologies news, Director Dave Perrill sold 100,000 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $2.72, for a total value of $272,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 9.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on HIVE. Chardan Capital reaffirmed a "buy" rating and set a $7.50 price objective on shares of HIVE Digital Technologies in a report on Wednesday, September 16th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $10.00 target price on shares of HIVE Digital Technologies in a report on Monday, October 19th. HC Wainwright reiterated a "buy" rating and set a $7.00 price target on shares of HIVE Digital Technologies in a research report on Monday, August 17th. Weiss Ratings raised shares of HIVE Digital Technologies from a "sell (d-)" rating to a "sell (d)" rating in a research report on Friday, August 14th. Finally, Rosenblatt Securities increased their price target on shares of HIVE Digital Technologies from $5.50 to $6.00 and gave the stock a "buy" rating in a research note on Thursday, August 20th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, HIVE Digital Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $6.95.

HIVE Digital Technologies Company Profile

HIVE Digital Technologies Ltd. is a digital asset infrastructure company focused primarily on Bitcoin mining and the operation of data centers. The company uses specialized computing equipment and energy infrastructure to support cryptocurrency mining, while also developing facilities designed to accommodate high-performance computing and artificial intelligence applications.

Founded as HIVE Blockchain Technologies, the company adopted the HIVE Digital Technologies name in 2023 to reflect its broader focus beyond cryptocurrency mining.

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