Why HIVE Digital Technologies Ltd. (HIVE) Stock Could See Much Higher Prices Ahead

HIVE Digital Technologies Ltd. (NASDAQ: HIVE) is -14.79% lower on its value in year-to-date trading and has touched a low of $2.20 and a high of $6.84 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The HIVE stock was last observed hovering at around $3.61 in the last trading session, with the day’s gains setting it 0.25%.

Currently trading at $3.86, the stock is 18.50% and 2.02% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.91 million and changing 6.93% at the moment leaves the stock 5.13% off its SMA200. HIVE registered 8.12% gain for a year compared to 6-month loss of -17.52%. The firm has a 50-day simple moving average (SMA 50) of $2.18 and a 200-day simple moving average (SMA200) of -$6.59.

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The stock witnessed a -4.93% gain in the last 1 month and extending the period to 3 months gives it a 20.25%, and is 28.24% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 6.65% over the week and 7.18% over the month.

Profit margin for the company is -174.73%. Distance from 52-week low is 75.45% and -43.57% from its 52-week high. The company has generated returns on investments over the last 12 months (-95.86%).

HIVE Digital Technologies Ltd. quarterly earnings per share for the current quarter are estimated at -$0.23 with sales reaching $27.45M over the same period.The EPS is expected to grow by 73.64% this year, but quarterly earnings will post 1.00% year-over-year. Quarterly sales are estimated to grow 91.70% in year-over-year returns.

HIVE Digital Technologies Ltd. (HIVE) Top Institutional Holders

105 institutions hold shares in HIVE Digital Technologies Ltd. (HIVE), with institutional investors hold 17.23% of the company’s shares. The shares outstanding are 87.63M, and float is at 87.19M with Short Float at 10.16%. Institutions hold 17.18% of the Float.

The top institutional shareholder in the company is Invesco Ltd. with over 2.84 million shares valued at $13.14 million. The investor’s holdings represent 3.28% of the HIVE Shares outstanding. As of Jun 29, 2023, the second largest holder is Toroso Investments, LLC with 2.81 million shares valued at $13.02 million to account for 3.25% of the shares outstanding. The other top investors are State Street Corporation which holds 1.3 million shares representing 1.51% and valued at over $6.04 million, while Van Eck Associates Corporation holds 1.27% of the shares totaling 1.1 million with a market value of $5.1 million.

HIVE Digital Technologies Ltd. (HIVE) Insider Activity

A total of 2 insider transactions have happened at HIVE Digital Technologies Ltd. (HIVE) in the last six months, with sales accounting for 1 and purchases happening 1 times.

HIVE Digital Technologies Ltd. (HIVE): Who are the competitors?

The company’s main competitors (and peers) include ORHUB Inc. (ORHB) that is trading -60.50% down over the past 12 months. Omnicell Inc. (OMCL) that is -46.67% lower over the same period.