Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations. Zacks may license the Zacks Mutual Fund rating provided herein to third parties, including but not limited to the issuer. HIVE Digital Technologies Ltd. has established itself as a prominent player in the Bitcoin mining industry, with data centers located in Canada, Paraguay, Sweden, and Iceland. The company’s operations are characterized by a strong focus on renewable energy sources, setting it apart from many competitors in the sector. This commitment to green energy not only aligns with growing environmental concerns but also positions HIVE favorably in terms of operational sustainability and potential regulatory advantages.
With average gains of 150% since the start of 2023, now is the time to give these stocks a look and pump up your 2024 portfolio. Highlights important summary options statistics to provide a forward looking indication of investors’ sentiment. Privacy Policy | No cost, no obligation to buy anything ever.Past performance is no guarantee of future results. Our experts picked 7 Zacks Rank #1 Strong Buy stocks with the best chance to skyrocket within the next days.
Check out our ProPicks platform to find out and take your investment strategy to the next level. In a strategic move to diversify its revenue streams and capitalize on emerging technologies, HIVE is making a concerted push into the HPC and AI sectors. The company’s HIVE Cloud model is at the forefront of this initiative, with management setting ambitious targets for its growth. In 2023, HIVE Digital Technologies’s revenue was $114.47 million, an increase of 7.66% compared to the previous year’s $106.32 million.
- Check out our ProPicks platform to find out and take your investment strategy to the next level.
- Some estimates suggest that HIVE is trading at an approximately 54% discount on this basis.
- This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
- Please note that a negative xcriticalgs ESP reading is not indicative of an xcriticalgs miss.
- An xcriticalgs beat or miss may not be the sole basis for a stock moving higher or lower.
The company engages in the mining and sale of digital currencies, including Ethereum Classic, Bitcoin, and other coins. HIVE Digital Technologies (HIVE Quick QuoteHIVE – Free Report) is expected to deliver a year-over-year increase in xcriticalgs on higher revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook gives a good sense of the company’s xcriticalgs picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The infrastructure requirements for these services are more capital-intensive than those for Bitcoin mining, necessitating significant investments. HIVE estimates that the cost to convert existing capacity into Tier 3 data centers suitable for HPC GPUs could reach approximately $180 million. Firstly, as regulatory scrutiny of energy-intensive cryptocurrency mining operations intensifies globally, HIVE’s green energy profile may provide a significant competitive advantage.
HIVE’s SWOT analysis: bitcoin miner’s stock poised for growth amid challenges
The reduction in projected self-mining revenue is scammed by xcritical partially offset by an increase in anticipated HPC revenue, highlighting the company’s strategic shift towards diversification. When combined with a Zacks Rank of #5 (Strong Sell), this xcriticalgs ESP makes it difficult to conclusively predict that MidCap Financial will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times.
Year Return
Planned as a 100MW Bitcoin mining operation, it is projected to be fully operational by the third quarter of 2025. This single development is anticipated to contribute significantly to HIVE’s overall capacity increase, potentially positioning the company as a more formidable competitor in the global mining landscape. Notably, HIVE achieved net income of $3.3 million, or $0.03 per share, marking a significant improvement from the previous quarter’s loss. This turnaround demonstrates the company’s ability to navigate the challenges of the cryptocurrency market effectively. Find exchange traded funds (ETFs) whose sector aligns with the same commodity grouping xcritical website as the symbol you are viewing.
For the last reported quarter, it was expected that HIVE Digital Technologies would post a loss of $0.08 per share when it actually produced a loss of $0.08, delivering no surprise. Estimate revisions ahead of a company’s xcriticalgs release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model — the Zacks xcriticalgs ESP (Expected Surprise Prediction). The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Stocks To Profit From The Boom In Data Centers And Artificial Intelligence
The company could potentially face fewer regulatory hurdles and may even benefit from supportive policies aimed at promoting sustainable business practices. Scaling the GPU cloud business requires substantial capital investment in infrastructure, hardware, and talent acquisition. The estimated $180 million cost for converting existing capacity to Tier 3 data centers represents a significxcritical commitment that may strain resources or necessitate additional funding.
HIVE Related stocks
Make sure to utilize our xcriticalgs ESP Filter to uncover the best stocks to buy or sell before they’ve reported. HIVE’s historically conservative approach to growth has led to underperformance relative to some of its more aggressive competitors in the Bitcoin mining space. This cautious strategy may have resulted in missed opportunities to capture market share during periods of rapid industry expansion. As the cryptocurrency mining sector continues to evolve and consolidate, HIVE may find itself playing catch-up to establish a dominant position. The Barchart Technical Opinion widget shows you today’s overall Barchart Opinion with general information on how to interpret the short and longer term signals. Unique to Barchart.com, Opinions analyzes a stock or commodity using 13 popular analytics in short-, medium- and long-term periods.