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HIVE Digital Technologies Ltd. (HIVE) Volatility At 4.60%, Should You Add A Position?

HIVE Digital Technologies Ltd. (NASDAQ: HIVE) is -32.89% lower on its value in year-to-date trading and has touched a low of $2.75 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 $3.06 in the last trading session, with the day’s loss setting it -0.02%.

Currently trading at $3.04, the stock is -3.37% and -12.21% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.08 million and changing -0.65% at the moment leaves the stock -18.84% off its SMA200. HIVE registered -5.88% loss for a year compared to 6-month gain of -2.88%. The firm has a 50-day simple moving average (SMA 50) of $2.41 and a 200-day simple moving average (SMA200) of $10.03.

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The stock witnessed a -2.88% gain in the last 1 month and extending the period to 3 months gives it a -27.62%, and is -5.30% down 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 4.60% over the week and 5.52% over the month.

HIVE Digital Technologies Ltd. (HIVE) has around 18 employees, a market worth around $317.98M and $95.81M in sales. Profit margin for the company is -57.15%. Distance from 52-week low is 10.55% and -55.56% from its 52-week high. The company has generated returns on investments over the last 12 months (-27.40%).

HIVE Digital Technologies Ltd. quarterly earnings per share for the current quarter are estimated at -$0.14 with sales reaching $34.68M over the same period.The EPS is expected to grow by 79.31% this year, but quarterly earnings will post 5.50% year-over-year. Quarterly sales are estimated to grow 90.30% in year-over-year returns.

119 institutions hold shares in HIVE Digital Technologies Ltd. (HIVE), with institutional investors hold 20.70% of the company’s shares. The shares outstanding are 104.60M, and float is at 104.09M with Short Float at 5.84%. Institutions hold 20.66% 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.

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