HIVE Stock Summary and Trading Ideas (Hive Digital Technologies - Common Shares | NASDAQ:HIVE)

HIVE Digital Technologies Ltd formerly HIVE Blockchain Technologies Ltd is in the business of providing infrastructure solutions in the blockchain industry. It focuses on the mining and sale of digital currencies. Its geographical segments include Canada, Sweden, Iceland, Switzerland, and Bermuda, out of which the majority of the revenue comes from Bermuda.

Hive Digital Technologies - Common Shares trades on the NASDAQ stock market under the symbol HIVE.

As of April 19, 2024, HIVE stock price climbed to $2.71 with 1,853,027 million shares trading.

HIVE has a beta of 1.34, meaning it tends to be more sensitive to market movements. HIVE has a correlation of 0.03 to the broad based SPY ETF.

HIVE has a market cap of $238.42 million. This is considered a Small Cap stock.

Last quarter Hive Digital Technologies - Common Shares reported $31 million in Revenue and -$.08 earnings per share. This beat revenue expectation by $4 million and exceeded earnings estimates by $.15.

The top ETF exchange traded funds that HIVE belongs to (by Net Assets): WGMI, DAPP, BKCH, CRPT, STCE.

HIVE has underperformed the market in the last year with a price return of -31.4% while the SPY ETF gained +21.2%. HIVE has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -14.5% and -15.3%, respectively, while the SPY returned +4.3% and -3.5%, respectively.

HIVE support price is $2.51 and resistance is $2.69 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that HIVE stock will trade within this expected range on the day.