Cryptocurrency Stocks to Monitor
Robinhood Markets, HIVE Digital Technologies, and Bitdeer Technologies Group have emerged as notable cryptocurrency stocks to keep an eye on, as highlighted by MarketBeat’s stock screener tool. These stocks represent publicly traded companies that focus on digital currencies and blockchain technology, encompassing activities such as mining, exchanges, wallet services, and blockchain development. Investing in these stocks allows investors to gain indirect exposure to the cryptocurrency landscape through conventional equity markets, with their risks and potential returns closely linked to both the performance of the companies and overall cryptocurrency price fluctuations. Recently, these companies recorded the highest trading volumes among cryptocurrency stocks.
Robinhood Markets (HOOD)
Robinhood Markets, Inc. operates a financial services platform in the United States, enabling users to invest in a range of financial instruments including stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. The platform provides features such as fractional trading, automated investments, fully-paid securities lending, margin trading, cash management, instant withdrawals, retirement options, and participation in initial public offerings. On Tuesday, shares of Robinhood Markets saw an increase of $0.16, reaching $64.43. A total of 15,410,624 shares were traded, notably lower than the average volume of 26,281,458. The company’s fifty-day moving average stands at $45.78, while the two-hundred-day average is at $44.07. Over the past year, Robinhood’s stock has seen a low of $13.98 and a high of $66.91, with a market capitalization of $57.05 billion, a price-to-earnings (PE) ratio of 40.98, a price/earnings to growth (PEG) ratio of 1.05, and a beta of 2.15.
HIVE Digital Technologies (HIVE)
HIVE Digital Technologies Ltd. functions as a cryptocurrency mining enterprise with operations in Canada, Sweden, and Iceland. The company is involved in the mining and sale of digital currencies such as Ethereum Classic and Bitcoin, in addition to managing data centers and providing infrastructure solutions. Previously known as HIVE Blockchain Technologies Ltd., shares of HIVE Digital Technologies experienced a decline of $0.03, settling at $2.07 during trading on Tuesday. The trading volume reached 8,767,739 shares, surpassing the average of 6,734,306. The company boasts a debt-to-equity ratio of 0.03, with a current and quick ratio both at 10.41. The fifty-day moving average price is $1.65, while the two-hundred-day moving average is $2.69. HIVE Digital Technologies has recorded a twelve-month low of $1.26 and a high of $5.54, currently holding a market cap of $365.67 million, a PE ratio of -41.30, and a beta of 3.52.
Bitdeer Technologies Group (BTDR)
Bitdeer Technologies Group operates as a technology firm specializing in blockchain and computing solutions. The company provides hash rate sharing services, including cloud hash rate and a hash rate marketplace, alongside comprehensive mining machine hosting solutions that cover deployment, maintenance, and management for effective cryptocurrency mining. Moreover, Bitdeer mines cryptocurrencies for its own portfolio. On Tuesday, Bitdeer Technologies Group’s stock price fell by $0.17, landing at $15.15. The trading volume reached 1,036,604 shares, markedly lower than the average volume of 4,817,940. The company holds a market cap of $1.70 billion, a PE ratio of -29.10, and a beta of 2.24. Over the past year, Bitdeer has seen a low of $5.40 and a high of $26.99, with a fifty-day moving average price of $10.12 and a two-hundred-day average of $14.06.
