Hut 8 Mining Corp. [HUT] Is Currently 3.16 below its 200 Period Moving Avg: What Does This Mean?



Hut 8 Mining Corp. [NASDAQ: HUT] stock went on an upward path that rose over 3.16% on Tuesday, amounting to a one-week price increase of more than 22.04%. The company report on March 17, 2022 that Hut 8 Reports Operating and Financial Results for 2021.

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Achieves record-breaking annual revenue of $173.8 million.

Over the last 12 months, HUT stock dropped by -21.45%.

The market cap for the stock reached $1.22 billion, with 166.74 million shares outstanding and 151.54 million shares in the current float. Compared to the average trading volume of 7.73M shares, HUT stock reached a trading volume of 6691972 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 0.54, with the Price to Sales ratio for HUT stock in the period of the last 12 months amounting to 7.00. The Price to Book ratio for the last quarter was 1.29, with the Price to Cash per share for the same quarter was set at 2.24.

HUT Stock Performance Analysis:

Hut 8 Mining Corp. [HUT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 22.04. With this latest performance, HUT shares dropped by -1.18% in over the last four-week period, additionally sinking by -23.96% over the last 6 months – not to mention a drop of -21.45% 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 51.49, with the RSI for the last a single of trading hit 56.75, and the three-weeks RSI is set at 48.60 for Hut 8 Mining Corp. [HUT]. The present Moving Average for the last 50 days of trading for this stock 6.03, while it was recorded at 5.62 for the last single week of trading, and 7.76 for the last 200 days.

Insight into Hut 8 Mining Corp. 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 +27.93 and a Gross Margin at +43.09. Hut 8 Mining Corp.’s Net Margin is presently recorded at -41.84.

Return on Equity for this stock declined to -21.34, with Return on Assets sitting at -16.79.

Hut 8 Mining Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 18.00 and a Current Ratio set at 18.00.

Hut 8 Mining Corp. [HUT] Insider Position Details

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 7,638,583, which is approximately 142.055% of the company’s market cap and around 2.03% of the total institutional ownership; INVESCO LTD., holding 2,619,108 shares of the stock with an approximate value of $15.37 million in HUT stocks shares; and CITADEL ADVISORS LLC, currently with $14.86 million in HUT stock with ownership of nearly 979.342% of the company’s market capitalization.

Positions in Hut 8 Mining Corp. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 101 institutional holders increased their position in Hut 8 Mining Corp. [NASDAQ:HUT] by around 14,338,318 shares. Additionally, 42 investors decreased positions by around 10,595,947 shares, while 9 investors held positions by with 2,777,945 shares. The mentioned changes placed institutional holdings at 27,712,210 shares, according to the latest SEC report filing. HUT stock had 68 new institutional investments in for a total of 4,237,896 shares, while 22 institutional investors sold positions of 7,669,761 shares during the same period.