Hut 8 Mining Corp. (NASDAQ: HUT)’s stock price has increased by 4.24 compared to its previous closing price of 1.65. Despite this, the company has seen a gain of 35.43% in its stock price over the last five trading days.
Is It Worth Investing in Hut 8 Mining Corp. (NASDAQ: HUT) Right Now?
while the 36-month beta value is 3.41.Analysts have differing opinions on the stock, with 2 analysts rating it as a “buy,” 0 as “overweight,” 2 as “hold,” and 0 as “sell.”
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The average price point forecasted by analysts for Hut 8 Mining Corp. (HUT) is $2.84, The public float for HUT is 183.08M, and currently, short sellers hold a 6.14% ratio of that floaft. The average trading volume of HUT on March 17, 2023 was 9.88M shares.
HUT’s Market Performance
HUT’s stock has seen a 35.43% increase for the week, with a -3.91% drop in the past month and a 65.38% gain in the past quarter. The volatility ratio for the week is 13.70%, and the volatility levels for the past 30 days are at 10.52% for Hut 8 Mining Corp. The simple moving average for the last 20 days is 3.83% for HUT stock, with a simple moving average of -3.15% for the last 200 days.
Analysts’ Opinion of HUT
Many brokerage firms have already submitted their reports for HUT stocks, with H.C. Wainwright repeating the rating for HUT by listing it as a “Neutral.” The predicted price for HUT in the upcoming period, according to H.C. Wainwright is $1.50 based on the research report published on December 09th of the previous year 2022.
Craig Hallum, on the other hand, stated in their research note that they expect to see HUT reach a price target of $2, previously predicting the price at $5. The rating they have provided for HUT stocks is “Hold” according to the report published on November 11th, 2022.
HUT Trading at 2.50% 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 -74.33% of loss for the given period.
Volatility was left at 10.52%, however, over the last 30 days, the volatility rate increased by 13.70%, as shares sank -15.69% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +110.37% upper at present.
During the last 5 trading sessions, HUT rose by +35.43%, which changed the moving average for the period of 200-days by -31.75% in comparison to the 20-day moving average, which settled at $1.6405. In addition, Hut 8 Mining Corp. saw 102.35% in overturn over a single year, with a tendency to cut further gains.
Stock Fundamentals for HUT
Current profitability levels for the company are sitting at:
- -50.06 for the present operating margin
- -26.73 for the gross margin
The net margin for Hut 8 Mining Corp. stands at -161.14. Equity return is now at value -48.40, with -42.20 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 8.15.
Conclusion
In a nutshell, Hut 8 Mining Corp. (HUT) has experienced a mixed performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
