The stock of Hut 8 Corp (NASDAQ: HUT) has decreased by -5.31 when compared to last closing price of 22.32.Despite this, the company has seen a loss of -10.75% in its stock price over the last five trading days. globenewswire.com reported 2024-12-19 that Reserve built through low-cost production and strategic at-market purchase Purchased Bitcoin to support innovative financing model for fleet upgrade MIAMI, Dec. 19, 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, today announced the purchase of approximately 990 Bitcoin. The aggregate purchase price of the acquired Bitcoin was approximately $100 million, or an average of approximately $101,710 per Bitcoin.
Is It Worth Investing in Hut 8 Corp (NASDAQ: HUT) Right Now?
The price-to-earnings ratio for Hut 8 Corp (NASDAQ: HUT) is 10.53x, which is above its average ratio. Moreover, the 36-month beta value for HUT is 3.62. Analysts have varying opinions on the stock, with 5 analysts rating it as a “buy,” 4 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for HUT is 83.36M and currently, short sellers hold a 9.58% of that float. On December 30, 2024, HUT’s average trading volume was 6.81M shares.
HUT’s Market Performance
HUT’s stock has seen a -10.75% decrease for the week, with a -25.71% drop in the past month and a 72.39% gain in the past quarter. The volatility ratio for the week is 8.12%, and the volatility levels for the past 30 days are at 11.12% for Hut 8 Corp. The simple moving average for the past 20 days is -18.03% for HUT’s stock, with a 49.18% simple moving average for the past 200 days.
Analysts’ Opinion of HUT
Many brokerage firms have already submitted their reports for HUT stocks, with Piper Sandler repeating the rating for HUT by listing it as a “Overweight.” The predicted price for HUT in the upcoming period, according to Piper Sandler is $33 based on the research report published on December 17, 2024 of the current year 2024.
Cantor Fitzgerald, on the other hand, stated in their research note that they expect to see HUT reach a price target of $35. The rating they have provided for HUT stocks is “Overweight” according to the report published on December 09th, 2024.
H.C. Wainwright gave a rating of “Buy” to HUT, setting the target price at $13.50 in the report published on August 14th of the current year.
HUT Trading at -6.66% 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 -33.85% of loss for the given period.
Volatility was left at 11.12%, however, over the last 30 days, the volatility rate increased by 8.12%, as shares sank -24.78% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +66.35% upper at present.
During the last 5 trading sessions, HUT fell by -11.00%, which changed the moving average for the period of 200-days by +191.11% in comparison to the 20-day moving average, which settled at $25.78. In addition, Hut 8 Corp saw 58.43% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at HUT starting from Flinn Joseph, who sale 7,618 shares at the price of $11.74 back on Aug 16 ’24. After this action, Flinn Joseph now owns 11,861 shares of Hut 8 Corp, valued at $89,427 using the latest closing price.
Flinn Joseph, the Director of Hut 8 Corp, proposed sale 7,618 shares at $11.74 during a trade that took place back on Aug 16 ’24, which means that Flinn Joseph is holding shares at $89,427 based on the most recent closing price.
Stock Fundamentals for HUT
Current profitability levels for the company are sitting at:
- -0.2 for the present operating margin
- 0.24 for the gross margin
The net margin for Hut 8 Corp stands at 1.36. The total capital return value is set at -0.03. Equity return is now at value 40.01, with 27.22 for asset returns.
Based on Hut 8 Corp (HUT), the company’s capital structure generated 0.34 points at debt to capital in total, while cash flow to debt ratio is standing at -0.11. The debt to equity ratio resting at 0.51. The interest coverage ratio of the stock is -1.47.
Currently, EBITDA for the company is 1.36 million with net debt to EBITDA at 29.93. When we switch over and look at the enterprise to sales, we see a ratio of 11.62. The receivables turnover for the company is 18.66for trailing twelve months and the total asset turnover is 0.13. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.00.
Conclusion
To wrap up, the performance of Hut 8 Corp (HUT) has been mixed in recent times. The stock has received a bullish of “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.
