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Can Hut 8 Mining Corp. (HUT) Remain Competitive?

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Hut 8 Mining Corp. (NASDAQ:HUT) went down by -3.50% from its latest closing price compared to the recent 1-year high of $16.57. The company’s stock price has collected -15.80% of loss in the last five trading sessions. Press Release reported on 01/05/22 that (PR) Hut 8 Mining Holds 5,518 Self Mined Bitcoin in Reserve as of December 31, 2021; Provides Monthly Production Update for December 2021; Announces US$30 million Equipment Financing with Trinity Capital

Is It Worth Investing in Hut 8 Mining Corp. (NASDAQ :HUT) Right Now?

Hut 8 Mining Corp. (NASDAQ:HUT) scored a price-to-earnings ratio above its average ratio, recording 12.15 x from its present earnings ratio. Plus, the 36-month beta value for HUT is at 2.58. Opinions of the stock are interesting as 4 analysts out of 4 who provided ratings for Hut 8 Mining Corp. declared the stock was a “buy,” while 0 rated the stock as “overweight,” 0 rated it as “hold,” and 0 as “sell.”

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The average price from analysts is $19.25. HUT currently public float of 151.54M and currently shorts hold a 5.93% ratio of that float. Today, the average trading volume of HUT was 11.17M shares.

HUT’s Market Performance

HUT stocks went down by -15.80% for the week, with a monthly drop of -33.57% and a quarterly performance of -36.63%, while its annual performance rate touched 3.44%. The volatility ratio for the week stands at 7.82% while the volatility levels for the past 30 days are set at 7.82% for Hut 8 Mining Corp.. The simple moving average for the period of the last 20 days is -17.68% for HUT stocks with a simple moving average of -13.19% for the last 200 days.

Analysts’ Opinion of HUT

Many brokerage firms have already submitted their reports for HUT stocks, with DA Davidson repeating the rating for HUT by listing it as a “Buy.” The predicted price for HUT in the upcoming period, according to DA Davidson is $20 based on the research report published on October 15th of the previous year 2021.

Canaccord Genuity, on the other hand, stated in their research note that they expect to see HUT reach a price target of $12. The rating they have provided for HUT stocks is “Buy” according to the report published on September 23rd, 2021.

Craig Hallum gave a rating of “Buy” to HUT, setting the target price at $10 in the report published on August 03rd of the previous year.

HUT Trading at -39.95% from the 50-Day Moving Average

After a stumble in the market that brought HUT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -60.11% of loss for the given period.

Volatility was left at 7.82%, however, over the last 30 days, the volatility rate increased by 7.82%, as shares sank -26.80% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -45.05% lower at present.

During the last 5 trading sessions, HUT fell by -15.80%, which changed the moving average for the period of 200-days by -5.97% in comparison to the 20-day moving average, which settled at $7.91. In addition, Hut 8 Mining Corp. saw -15.80% in overturn over a single year, with a tendency to cut further losses.

Stock Fundamentals for HUT

Current profitability levels for the company are sitting at:

  • -58.14 for the present operating margin
  • -51.13 for the gross margin

The net margin for Hut 8 Mining Corp. stands at +46.77. The total capital return value is set at -22.53, while invested capital returns managed to touch 21.39. Equity return is now at value 18.70, with 17.60 for asset returns.

Based on Hut 8 Mining Corp. (HUT), the company’s capital structure generated 22.29 points at debt to equity in total, while total debt to capital is 18.23.

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When we switch over and look at the enterprise to sales, we see a ratio of 10.18, with the company’s debt to enterprise value settled at 0.10. The receivables turnover for the company is 58.39 and the total asset turnover is 0.38. The liquidity ratio also appears to be rather interesting for investors as it stands at 3.55.

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