On June 4, HIVE Digital Technologies fell 8.16% in pre-market trading, trading at $4.0202/share, with trading volume of $726,600.
On the news front, HIVE Digital Technologies reported fourth-quarter earnings of $0.02 per share, beating the analyst consensus estimate of -$0.22 by 109.09%, and representing a significant improvement from the -$0.34 per share loss in the year-ago period. However, quarterly revenue of $71.816 million fell short of the $78.917 million consensus estimate, potentially weighing on investor sentiment despite the earnings surprise.
Separately, B. Riley raised its price target on HIVE Digital Technologies to $8 from $5 while maintaining a Buy rating. Despite the analyst upgrade and earnings beat, the stock declined in pre-market trading, suggesting the revenue shortfall may be driving near-term selling pressure. HIVE Digital Technologies operates data centers for cryptocurrency mining, including Bitcoin, across Canada, Sweden, and Iceland, and provides infrastructure solutions and computational capacity to blockchain networks.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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