Hut 8 Mining Corp. [NASDAQ: HUT] plunged by -$0.11 during the normal trading session on Tuesday and reaching a high of $8.05 during the day while it closed the day at $7.72. The company report on September 17, 2021 that Hut 8 Mining Closes US$173 Million Common Share Public Offering.
Hut 8 Mining Corp. (Nasdaq: HUT) (TSX: HUT) (“Hut 8” or the “Company”) announced the closing of its previously announced underwritten public offering of common shares (the “Common Shares”) in the United States and Canada (the “Offering”).
The Company sold 20,182,500 Common Shares including the full exercise of the underwriters’ option to purchase an additional 2,632,500 Common Shares. The Common Shares were offered to the public at a price of US$8.55 per share resulting in total gross proceeds to the Company of US$172,560,375.
Hut 8 Mining Corp. stock has also loss -25.55% of its value over the past 7 days. However, HUT stock has inclined by 116.85% in the 3 months of the year. Over the past six months meanwhile, it has gained 3.31% and gained 180.73% year-on date.
The market cap for HUT stock reached $1.44 billion, with 142.51 million shares outstanding and 125.08 million shares in the current float. Compared to the average trading volume of 6.22M shares, HUT reached a trading volume of 7237051 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Hut 8 Mining Corp. [HUT]:
Craig Hallum have made an estimate for Hut 8 Mining Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 03, 2021.
The Average True Range (ATR) for Hut 8 Mining Corp. is set at 0.89, with the Price to Sales ratio for HUT stock in the period of the last 12 months amounting to 17.10. The Price to Book ratio for the last quarter was 2.74, with the Price to Cash per share for the same quarter was set at 0.92.
HUT stock trade performance evaluation
Hut 8 Mining Corp. [HUT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -25.55. With this latest performance, HUT shares gained by 16.79% in over the last four-week period, additionally plugging by 3.31% over the last 6 months – not to mention a rise of 1049.84% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HUT stock in for the last two-week period is set at 46.69, with the RSI for the last a single of trading hit 39.60, and the three-weeks RSI is set at 50.54 for Hut 8 Mining Corp. [HUT]. The present Moving Average for the last 50 days of trading for this stock 6.64, while it was recorded at 8.46 for the last single week of trading, and 5.52 for the last 200 days.
Hut 8 Mining Corp. [HUT]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Hut 8 Mining Corp. [HUT] shares currently have an operating margin of -58.14 and a Gross Margin at -51.13. Hut 8 Mining Corp.’s Net Margin is presently recorded at +46.77.
Return on Total Capital for HUT is now -22.53, given the latest momentum, and Return on Invested Capital for the company is 21.39. Return on Equity for this stock inclined to 24.06, with Return on Assets sitting at 17.59. When it comes to the capital structure of this company, Hut 8 Mining Corp. [HUT] has a Total Debt to Total Equity ratio set at 22.29. Additionally, HUT Total Debt to Total Capital is recorded at 18.23, with Total Debt to Total Assets ending up at 17.74.
Reflecting on the efficiency of the workforce at the company, Hut 8 Mining Corp. [HUT] managed to generate an average of $634,672 per employee. Receivables Turnover for the company is 58.39 with a Total Asset Turnover recorded at a value of 0.38.Hut 8 Mining Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 18.50 and a Current Ratio set at 18.50.
Hut 8 Mining Corp. [HUT]: Insider Ownership positions
There are presently around $94 million, or 12.90% of HUT stock, in the hands of institutional investors. The top three institutional holders of HUT stocks are: FMR LLC with ownership of 3,155,727, which is approximately New of the company’s market cap and around 15.23% of the total institutional ownership; POINT72 HONG KONG LTD, holding 1,747,570 shares of the stock with an approximate value of $13.49 million in HUT stocks shares; and MMCAP INTERNATIONAL INC. SPC, currently with $12.31 million in HUT stock with ownership of nearly New of the company’s market capitalization.
Positions in Hut 8 Mining Corp. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 50 institutional holders increased their position in Hut 8 Mining Corp. [NASDAQ:HUT] by around 12,098,638 shares. Additionally, 0 investors decreased positions by around 0 shares, while 1 investors held positions by with 23,010 shares. The mentioned changes placed institutional holdings at 12,121,648 shares, according to the latest SEC report filing. HUT stock had 49 new institutional investments in for a total of 12,097,438 shares, while 0 institutional investors sold positions of 0 shares during the same period.