The 36-month beta value for HUT is at 3.31. Analysts have varying views on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for HUT is 89.13M, and currently, shorts hold a 8.43% of that float. The average trading volume for HUT on May 08, 2024 was 4.24M shares.
HUT) stock’s latest price update
The stock price of Hut 8 Corp (NASDAQ: HUT) has plunged by -7.46 when compared to previous closing price of 8.85, but the company has seen a 4.20% gain in its stock price over the last five trading sessions. The Motley Fool reported 2024-05-03 that Bitcoin miners are facing a significant change to their overall business models given that the halving has slashed their mining rewards in half. To make up any revenue shortfall, smaller Bitcoin miners appear to be exploring a move into AI computing.
HUT’s Market Performance
HUT’s stock has risen by 4.20% in the past week, with a monthly drop of -9.00% and a quarterly rise of 19.04%. The volatility ratio for the week is 7.21% while the volatility levels for the last 30 days are 7.35% for Hut 8 Corp The simple moving average for the past 20 days is -1.21% for HUT’s stock, with a -21.12% simple moving average for the past 200 days.
Analysts’ Opinion of HUT
Many brokerage firms have already submitted their reports for HUT stocks, with The Benchmark Company repeating the rating for HUT by listing it as a “Buy.” The predicted price for HUT in the upcoming period, according to The Benchmark Company is $12 based on the research report published on April 22, 2024 of the current year 2024.
Needham, 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 March 18th, 2024.
H.C. Wainwright gave a rating of “Sell” to HUT, setting the target price at $5.50 in the report published on February 06th of the current year.
HUT Trading at -4.06% 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 -64.00% of loss for the given period.
Volatility was left at 7.35%, however, over the last 30 days, the volatility rate increased by 7.21%, as shares sank -4.99% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -11.17% lower at present.
During the last 5 trading sessions, HUT rose by +4.20%, which changed the moving average for the period of 200-days by -54.88% in comparison to the 20-day moving average, which settled at $8.27. In addition, Hut 8 Corp saw -38.61% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at HUT starting from Leverton Jaime, who sale 35,761 shares at the price of $10.10 back on Jan 12 ’24. After this action, Leverton Jaime now owns 269,415 shares of Hut 8 Corp, valued at $361,261 using the latest closing price.
Leverton Jaime, the Chief Executive Officer of Hut 8 Corp, sale 98,724 shares at $14.21 during a trade that took place back on Dec 22 ’23, which means that Leverton Jaime is holding 238,509 shares at $1,402,957 based on the most recent closing price.
Stock Fundamentals for HUT
Current profitability levels for the company are sitting at:
- 0.7 for the present operating margin
- -0.29 for the gross margin
The net margin for Hut 8 Corp stands at -3.11. The total capital return value is set at 0.34. Equity return is now at value -33.54, with -28.25 for asset returns.
Based on Hut 8 Corp (HUT), the company’s capital structure generated 0.86 points at debt to capital in total, while cash flow to debt ratio is standing at -0.21. The debt to equity ratio resting at 6.14. The interest coverage ratio of the stock is 5.43.
Currently, EBITDA for the company is 3.57 million with net debt to EBITDA at 1.14. When we switch over and look at the enterprise to sales, we see a ratio of 13.78. The receivables turnover for the company is 178.47for trailing twelve months and the total asset turnover is 0.46. The liquidity ratio also appears to be rather interesting for investors as it stands at 4.61.
Conclusion
In conclusion, Hut 8 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.
