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HIVE Blockchain (HIVE) Outpaces Stock Market Gains: What You Should Know

·2 min read

In the latest trading session, HIVE Blockchain (HIVE) closed at $7.28, marking a +1.39% move from the previous day. This change outpaced the S&P 500's 0.4% gain on the day. Elsewhere, the Dow gained 0.45%, while the tech-heavy Nasdaq lost 0.44%.

Heading into today, shares of the crypto currency mining company had gained 103.4% over the past month, outpacing the Business Services sector's gain of 14.25% and the S&P 500's gain of 12.15% in that time.

Wall Street will be looking for positivity from HIVE Blockchain as it approaches its next earnings report date.

For the full year, our Zacks Consensus Estimates are projecting earnings of $3.45 per share and revenue of $190.71 million, which would represent changes of +283.33% and -8.24%, respectively, from the prior year.

Any recent changes to analyst estimates for HIVE Blockchain should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. HIVE Blockchain is holding a Zacks Rank of #2 (Buy) right now.

Looking at its valuation, HIVE Blockchain is holding a Forward P/E ratio of 2.08. This represents a discount compared to its industry's average Forward P/E of 26.12.

The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 139, putting it in the bottom 45% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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