HIVE Digital Technologies Ltd. (HIVE) Stock: A SWOT Analysis

The public float for HIVE is 87.19M, and currently, short sellers hold a 10.16% ratio of that floaft. The average trading volume of HIVE on February 12, 2024 was 1.20 shares.

HIVE) stock’s latest price update

The stock of HIVE Digital Technologies Ltd. (NASDAQ: HIVE) has increased by 3.61 when compared to last closing price of 6.17.Despite this, the company has seen a gain of 15.71% in its stock price over the last five trading days. Proactive Investors reported 2024-02-09 that Canada-listed bitcoin miner HIVE Digital Technologies (TSX-V:HIVE, NASDAQ:HIVE) is reinforcing its fleet of application-specific integrated circuit (ASIC) bitcoin mining rigs to capitalise on the upcoming bitcoin halving event in April. HIVE has upgraded its fleet of ASIC miners by integrating 7,000 of the latest Bitmain S21 Antminers to enhance mining efficiency and reduce production costs.

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HIVE’s Market Performance

HIVE Digital Technologies Ltd. (HIVE) has seen a 15.71% rise in stock performance for the week, with a -18.14% decline in the past month and a 12.11% surge in the past quarter. The volatility ratio for the week is 5.71%, and the volatility levels for the past 30 days are at 7.81% for HIVE.

HIVE Trading at -23.08% from the 50-Day Moving Average

After a stumble in the market that brought HIVE to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -47.22% of loss for the given period.

Volatility was left at 7.81%, however, over the last 30 days, the volatility rate increased by 5.71%, as shares sank -11.08% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +14.60% upper at present.

During the last 5 trading sessions, HIVE rose by +15.71%, which changed the moving average for the period of 200-days by +14.60% in comparison to the 20-day moving average, which settled at $3.26. In addition, HIVE Digital Technologies Ltd. saw -20.31% in overturn over a single year, with a tendency to cut further losses.

Stock Fundamentals for HIVE

Equity return is now at value -78.44, with -61.48 for asset returns.

Conclusion

In a nutshell, HIVE Digital Technologies Ltd. (HIVE) has experienced a mixed performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.

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