Hut 8 Mining Corp (NASDAQ: HUT)’s stock price has soared by 2.15 in relation to previous closing price of 1.86. Nevertheless, the company has seen a loss of -12.44% in its stock price over the last five trading days. Seeking Alpha reported 2023-11-14 that Hut 8 Mining Corp. (HUT) Q3 2023 Earnings Call Transcript

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

, and the 36-month beta value for HUT is at 3.01. Analysts have varying views on the stock, with 1 analysts rating it as a “buy,” 0 rating it as “overweight,” 2 as “hold,” and 0 as “sell.”

The average price suggested by analysts for HUT is $2.58, which is $0.68 above the current market price. The public float for HUT is 220.54M, and currently, shorts hold a 11.81% of that float. The average trading volume for HUT on November 20, 2023 was 9.20M shares.

HUT’s Market Performance

HUT stock saw an increase of -12.44% in the past week, with a monthly gain of 6.15% and a quarterly increase of -20.50%. The volatility ratio for the week is 9.62%, and the volatility levels for the last 30 days are 9.39% for Hut 8 Mining Corp (HUT). The simple moving average for the last 20 days is -11.98% for HUT’s stock, with a simple moving average of -15.27% 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 09, 2022 of the previous year 2022.

HUT Trading at -7.04% 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 -58.24% of loss for the given period.

Volatility was left at 9.39%, however, over the last 30 days, the volatility rate increased by 9.62%, as shares surge +2.15% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -14.80% lower at present.

During the last 5 trading sessions, HUT fell by -12.44%, which changed the moving average for the period of 200-days by -21.16% in comparison to the 20-day moving average, which settled at $2.1605. In addition, Hut 8 Mining Corp saw 123.53% 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. The total capital return value is set at -15.01, while invested capital returns managed to touch -49.92. Equity return is now at value -33.54, with -28.25 for asset returns.

Based on Hut 8 Mining Corp (HUT), the company’s capital structure generated 13.49 points at debt to equity in total, while total debt to capital is 11.89. Total debt to assets is 11.48, with long-term debt to equity ratio resting at 8.88. Finally, the long-term debt to capital ratio is 7.82.

When we switch over and look at the enterprise to sales, we see a ratio of 5.09, with the company’s debt to enterprise value settled at 1.53. The receivables turnover for the company is 2.52 and the total asset turnover is 0.27. The liquidity ratio also appears to be rather interesting for investors as it stands at 8.15.

Conclusion

In conclusion, Hut 8 Mining Corp (HUT) has had a mixed performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. 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.