Nasbhai
2022-08-11

$HIVE Blockchain Technologies Ltd.(HIVE)$

HIVE Blockchain Technologies is a cryptocurrency miner which owns green energy powered data center facilities in Canada, Sweden and Iceland.

In July, HIVE Blockchain Technologies announced it had record annual revenue for the year ended Mar 31, 2022. Revenue was $211 million with earnings of $79 million, or $0.90 per share.

But shares of HIVE Blockchain Technologies have fallen 62% year-to-date even while it’s reporting record revenue.

It’s extremely cheap, with a forward P/E of just 1.4 and analysts are bullish on fiscal 2023, with earnings expected to rise 283%.

Should value investors take a chance on small cap HIVE Blockchain Technologies or is the P/E telling you to be cautious?

Credit: YahooNews

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