Movement Alert|HIVE Digital Technologies Rises 8.3% in Regular Trading, Earnings Beat and Analyst Upgrade Continue to Fuel Momentum

Market Focus
Jun 12

On June 12, HIVE Digital Technologies rose 8.3% in regular trading, trading at $3.765/share, with turnover of $57.11 million.

On the news front, the company recently reported Q4 earnings per share of $0.02, significantly beating market expectations of a $0.22 loss, marking a year-over-year swing to profitability. Revenue came in at $71.82 million, slightly below the expected $78.92 million. Additionally, B.Riley raised its target price on the stock from $5 to $8, maintaining a Buy rating. The combination of the earnings surprise and analyst bullish signal continues to support buying interest after the stock pulled back from its initial post-earnings rally.

Within the Application Software sector, peer digital infrastructure stock IREN Ltd rose 9.59%, while Palantir Technologies gained 0.6%, Adobe fell 4.86%, Salesforce declined 2.51%, and AppLovin dropped 3.7%.

(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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