HIVE Digital Technologies (NASDAQ:HIVE) Issues Quarterly Earnings Results, Misses Expectations By $0.13 EPS

HIVE Digital Technologies (NASDAQ:HIVE) issued its quarterly earnings results on Monday. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.13), reports. The firm had revenue of $84.88 million during the quarter, compared to analysts’ expectations of $79.44 million. HIVE Digital Technologies had a negative return on equity of 40.74% and a negative net margin of 118.13%.

HIVE Digital Technologies Stock Performance

Shares of HIVE Digital Technologies stock traded up $0.10 during trading hours on Wednesday, hitting $1.81. 5,699,490 shares of the company were exchanged, compared to its average volume of 17,778,014. HIVE Digital Technologies has a 1 year low of $1.58 and a 1 year high of $5.34. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.85. The business has a 50-day moving average of $2.56 and a 200-day moving average of $2.79. The stock has a market capitalization of $501.34 million, a price-to-earnings ratio of -1.20 and a beta of 3.76.

Insiders Place Their Bets

In related news, Director Dave Perrill sold 100,000 shares of HIVE Digital Technologies stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $2.72, for a total value of $272,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Wall Street Analyst Weigh In

HIVE has been the topic of a number of research analyst reports. Chardan Capital cut their price objective on shares of HIVE Digital Technologies from $7.50 to $7.00 and set a “buy” rating on the stock in a report on Tuesday. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $10.00 target price on shares of HIVE Digital Technologies in a research report on Monday, October 19th. Rosenblatt Securities increased their target price on shares of HIVE Digital Technologies from $5.50 to $6.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. HC Wainwright cut their price target on shares of HIVE Digital Technologies from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, B. Riley Financial reduced their price target on shares of HIVE Digital Technologies from $8.00 to $5.00 and set a “buy” rating for the company in a research report on Wednesday. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, HIVE Digital Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $6.40.

Recent HIVE Digital Technologies Headlines

Investors following HIVE have been watching these headlines:

• Positive Sentiment: The company reported $139 million in cash and said its Sweden data center could generate $45 million in annual AI revenue, giving investors a potential growth catalyst—though that revenue is a target, not a reported result. Sweden AI revenue target
• Neutral Sentiment: HIVE added 79 Bitcoin in the quarter, bringing its treasury to 269 BTC. This expands its holdings, but Bitcoin prices can affect the value of those assets and mining revenue. Bitcoin holdings report
• Negative Sentiment: B. Riley and HC Wainwright each cut their price target to $5 from higher prior targets, while retaining Buy ratings. Chardan Capital also lowered its target, to $7. These cuts may signal more cautious assumptions even as the firms continue to see upside. B. Riley rating HC Wainwright rating

HIVE Digital Technologies Company Profile

HIVE Digital Technologies Ltd. is a digital infrastructure company focused on cryptocurrency mining and high-performance computing. Its operations include data centers that support Bitcoin mining, as well as computing services for applications such as artificial intelligence and other data-intensive workloads. Founded in 2017 as HIVE Blockchain Technologies, the company initially focused on mining digital assets, including Ethereum. It has since expanded its emphasis on Bitcoin mining and high-performance computing.