HIVE Blockchain Technologies Ltd. (NASDAQ: HIVE) stock fell -1.63% on Wednesday to $3.02 against a previous-day closing price of $3.07. With 0.5 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.13 million shares. During the session, the Capital Markets company that operates in wider Financial sector, reached to the highest price of $3.0700 whereas the lowest price it dropped to was $2.9400. The 52-week range on HIVE shows that it touched its highest point at $7.53 and its lowest point at $1.36 during that stretch. It currently has a 1-year price target of $5.24. Beta for the stock currently stands at 4.40.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of HIVE was down-trending over the past week, with a drop of -3.82%, but this was down by -3.82% over a month. Three-month performance surged to 6.34% while six-month performance rose 51.00%. The stock lost -28.94% in the past year, while it has gained 109.72% so far this year. A look at the trailing 12-month EPS for HIVE yields -3.93 with Next year EPS estimates of -0.69. For the next quarter, that number is -0.29. This implies an EPS growth rate of 185.00% for this year and 77.00% for next year.
Float and Shares Shorts:
At present, 115.06 million HIVE shares are outstanding with a float of 83.47 million shares on hand for trading. On May 14, 2023, short shares totaled 5.03 million, which was 6.00% higher than short shares on Apr 13, 2023. In addition to Mr. Frank Edward Holmes as the firm’s Exec. Chairman, Mr. Aydin Kilic serves as its Chief Exec. Officer.
Through their ownership of 16.24% of HIVE’s outstanding shares, institutional investors have minority control over the company. Other institutions hold — of HIVE, in contrast to — held by mutual funds. Shares owned by individuals account for –. With a 4.57% stake in HIVE, the Amplify Transformational Data Sha is the largest stakeholder. A total of 3,830,057 shares are owned by the mutual fund manager. The Invesco Mkts. II Plc – CoinShares, which owns about 2.56% of HIVE stock, is the second-largest Mutual Fund holder. It holds 2,147,463 shares valued at 6.96 million. Bitwise Crypto Industry Innovator holds 1.06% of the stake in HIVE, owning 883,978 shares worth 2.86 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Dec 30, 2022, HIVE reported revenue of -$28.06M and operating income of -$75.29M. The EBITDA in the recently reported quarter was -$49.54M and diluted EPS was -$1.16.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for HIVE since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With HIVE analysts setting a high price target of $7.00 and a low target of $5.00, the average target price over the next 12 months is $5.67. Based on these targets, HIVE could surge 131.79% to reach the target high and rise by 65.56% to reach the target low. Reaching the average price target will result in a growth of 87.75% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded HIVE stock several times over the past three months with 4 Buys and 10 Sells. In these transactions, 180,834 shares were bought while 374,802 shares were sold. The number of buy transactions has increased to 14 while that of sell transactions has risen to 19 over the past year. The total number of shares bought during that period was 375,900 while 2,844,568 shares were sold.