The stock of Hut 8 Corp (HUT) has gone down by -23.23% for the week, with a -30.96% drop in the past month and a 37.67% rise in the past quarter. The volatility ratio for the week is 11.05%, and the volatility levels for the past 30 days are 11.70% for HUT. The simple moving average for the last 20 days is -32.40% for HUT stock, with a simple moving average of 7.96% for the last 200 days.
Is It Worth Investing in Hut 8 Corp (NASDAQ: HUT) Right Now?
The price-to-earnings ratio for Hut 8 Corp (NASDAQ: HUT) is above average at 7.05x. The 36-month beta value for HUT is also noteworthy at 3.41. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
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The public float for HUT is 80.09M, and at present, short sellers hold a 16.57% of that float. The average trading volume of HUT on August 05, 2024 was 5.41M shares.
HUT) stock’s latest price update
Hut 8 Corp (NASDAQ: HUT)’s stock price has decreased by -8.19 compared to its previous closing price of 12.40. However, the company has seen a -23.23% decrease in its stock price over the last five trading sessions. globenewswire.com reported 2024-07-24 that MIAMI, July 24, 2024 (GLOBE NEWSWIRE) — Hut 8 Corp. (Nasdaq | TSX: HUT) (“Hut 8” or the “Company”), a leading, vertically integrated operator of large-scale energy infrastructure and one of North America’s largest Bitcoin miners, will host a conference call and webinar on Tuesday, August 13, 2024 to review second quarter 2024 results.
Analysts’ Opinion of HUT
Many brokerage firms have already submitted their reports for HUT stocks, with Craig Hallum repeating the rating for HUT by listing it as a “Buy.” The predicted price for HUT in the upcoming period, according to Craig Hallum is $12 based on the research report published on May 16, 2024 of the current year 2024.
The Benchmark Company, 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 April 22nd, 2024.
Needham gave a rating of “Buy” to HUT, setting the target price at $12 in the report published on March 18th of the current year.
HUT Trading at -17.33% 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 -46.04% of loss for the given period.
Volatility was left at 11.70%, however, over the last 30 days, the volatility rate increased by 11.05%, as shares sank -35.73% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +14.06% upper at present.
During the last 5 trading sessions, HUT fell by -24.24%, which changed the moving average for the period of 200-days by +17.03% in comparison to the 20-day moving average, which settled at $16.53. In addition, Hut 8 Corp saw -14.66% 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 Visram Shenif, who proposed sale 20,239 shares at the price of $13.38 back on Aug 02 ’24. After this action, Visram Shenif now owns shares of Hut 8 Corp, valued at $270,705 using the latest closing price.
Visram Shenif, the Chief Financial Officer of Hut 8 Corp, sale 20,239 shares at $13.38 during a trade that took place back on Aug 02 ’24, which means that Visram Shenif is holding 43,959 shares at $270,705 based on the most recent closing price.
Stock Fundamentals for HUT
Current profitability levels for the company are sitting at:
- 1.42 for the present operating margin
- -0.01 for the gross margin
The net margin for Hut 8 Corp stands at 1.45. The total capital return value is set at 0.51. Equity return is now at value 40.14, with 30.98 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 -0.06. The debt to equity ratio resting at 6.14. The interest coverage ratio of the stock is 9.97.
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 25.76. The receivables turnover for the company is 131.11for trailing twelve months and the total asset turnover is 0.34. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.31.
Conclusion
In summary, Hut 8 Corp (HUT) has had a bad performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as 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.
