HIVE Digital Technologies (CVE:HIVE) Shares Down 10.1% - Here's Why

Key Points

• Shares of HIVE Digital fell 10.1% to C$3.37 on Monday, trading as low as C$3.36, with volume up about 22% to roughly 2.39 million shares.
• HIVE operates cryptocurrency mining and data center operations in Canada, Sweden and Iceland, mining coins such as Ethereum Classic and Bitcoin, and rebranded to HIVE Digital Technologies in July 2023.
• The company has a market cap of about C$840 million, a very high beta of 4.78 (indicating elevated volatility) and a notable debt-to-equity ratio of 9.98, while its share price is below both the 50-day (C$4.19) and 200-day (C$4.85) moving averages.

Shares of HIVE Digital Technologies Ltd. (CVE:HIVE - ) were down 10.1% during trading on Monday . The stock traded as low as C$3.36 and last traded at C$3.37. Approximately 2,389,848 shares traded hands during mid-day trading, an increase of 22% from the average daily volume of 1,958,520 shares. The stock had previously closed at C$3.75.

HIVE Digital Technologies Trading Down 10.1%

The company has a debt-to-equity ratio of 9.98, a current ratio of 5.56 and a quick ratio of 0.85. The firm has a market capitalization of C$839.79 million, a price-to-earnings ratio of 14.65 and a beta of 4.78. The firm's 50-day simple moving average is C$4.19 and its 200 day simple moving average is C$4.85.

HIVE Digital Technologies Company Profile

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. and changed its name to HIVE Digital Technologies Ltd. in July 2023. HIVE Digital Technologies Ltd. was incorporated in 1987 and is headquartered in Vancouver, Canada.

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