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MARKETS LIVE BLOG:

STOCKS RISE, LED BY STELLAR ALPHABET, MICROSOFT EARNINGS

Results from 'Magnificent Seven' duo show cloud revenue boosted by strong AI demand

HIVE Blockchain (HIVE) Gains As Market Dips: What You Should Know

Zacks Equity Research
·2 min read

HIVE Blockchain (HIVE) closed the most recent trading day at $4.07, moving +0.99% from the previous trading session. This change outpaced the S&P 500's 0.2% loss on the day. At the same time, the Dow lost 0.14%, and the tech-heavy Nasdaq lost 0.12%.

Heading into today, shares of the crypto currency mining company had lost 5.4% over the past month, outpacing the Business Services sector's loss of 5.48% and lagging the S&P 500's loss of 3.29% in that time.

Investors will be hoping for strength from HIVE Blockchain as it approaches its next earnings release. In that report, analysts expect HIVE Blockchain to post earnings of -$0.15 per share. This would mark a year-over-year decline of 123.08%. Meanwhile, our latest consensus estimate is calling for revenue of $34.45 million, down 34.53% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$1.35 per share and revenue of $150.05 million, which would represent changes of -250% and -27.8%, respectively, from the prior year.

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Investors might also notice recent changes to analyst estimates for HIVE Blockchain. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. HIVE Blockchain is holding a Zacks Rank of #3 (Hold) right now.

The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 144, putting it in the bottom 43% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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HIVE Blockchain Technologies Ltd. (HIVE) : Free Stock Analysis Report
 
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Zacks Investment Research