Hut 8 Mining Corp. [HUT] Revenue clocked in at $128.90 million, down -15.80% YTD: What’s Next?


Hut 8 Mining Corp. [NASDAQ: HUT] loss 0.00% on the last trading session, reaching $6.61 price per share at the time. The company report on January 5, 2022 that Hut 8 Mining Holds 5,518 Self Mined Bitcoin in Reserve as of December 31, 2021; Provides Monthly Production Update for December 2021; Announces US$30 million Equipment Financing with Trinity Capital.

Hut 8 Mining Corp. (Nasdaq: HUT) (TSX: HUT) (“Hut 8” or “the Company”), one of North America’s largest, innovation-focused digital asset mining pioneers, supporting open and decentralized systems since 2018, is pleased to provide the following corporate update.

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Hut 8 Mining Corp. represents 166.74 million in outstanding shares, while the company has a total market value of $1.45 billion with the latest information. HUT stock price has been found in the range of $6.16 to $6.6499.

If compared to the average trading volume of 11.13M shares, HUT reached a trading volume of 7716773 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Hut 8 Mining Corp. [HUT]:

DA Davidson have made an estimate for Hut 8 Mining Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 15, 2021. While these analysts kept the previous recommendation, Canaccord Genuity raised their target price to Buy. The new note on the price target was released on September 23, 2021, representing the official price target for Hut 8 Mining Corp. stock. Previously, the target price had yet another raise to $10, while Craig Hallum analysts kept a Buy rating on HUT stock.

The Average True Range (ATR) for Hut 8 Mining Corp. is set at 0.74, with the Price to Sales ratio for HUT stock in the period of the last 12 months amounting to 11.26. The Price to Book ratio for the last quarter was 1.54, with the Price to Cash per share for the same quarter was set at 1.71.

Trading performance analysis for HUT stock

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 -14.93. With this latest performance, HUT shares dropped by -26.80% in over the last four-week period, additionally plugging by 47.22% over the last 6 months – not to mention a rise of 33.63% 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 31.42, with the RSI for the last a single of trading hit 27.58, and the three-weeks RSI is set at 35.04 for Hut 8 Mining Corp. [HUT]. The present Moving Average for the last 50 days of trading for this stock 10.79, while it was recorded at 7.05 for the last single week of trading, and 7.61 for the last 200 days.

Hut 8 Mining Corp. [HUT]: A deeper dive into fundamental analysis

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 22.40 and a Current Ratio set at 22.40.

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An analysis of insider ownership at Hut 8 Mining Corp. [HUT]

There are presently around $163 million, or 20.42% 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 0% of the company’s market cap and around 2.03% of the total institutional ownership; INVESCO LTD., holding 2,804,493 shares of the stock with an approximate value of $18.54 million in HUT stocks shares; and POINT72 ASSET MANAGEMENT, L.P., currently with $13.0 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 May and at the time of the May reporting period, where 68 institutional holders increased their position in Hut 8 Mining Corp. [NASDAQ:HUT] by around 14,856,276 shares. Additionally, 16 investors decreased positions by around 2,373,308 shares, while 10 investors held positions by with 7,375,032 shares. The mentioned changes placed institutional holdings at 24,604,616 shares, according to the latest SEC report filing. HUT stock had 43 new institutional investments in for a total of 9,619,604 shares, while 10 institutional investors sold positions of 1,003,906 shares during the same period.