Hut 8 Mining Corp. [HUT] Is Currently 3.95 below its 200 Period Moving Avg: What Does This Mean?



Hut 8 Mining Corp. [NASDAQ: HUT] jumped around 0.06 points on Friday, while shares priced at $1.58 at the close of the session, up 3.95%. The company report on July 6, 2022 that Hut 8 Mining Production and Operations Update for June 2022.

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Hut 8 Mining Corp. stock is now -79.87% down from its year-to-date (YTD) trading value. HUT Stock saw the intraday high of $1.62 and lowest of $1.50 per share. The company’s 52-week high price is 16.57, which means current price is +24.41% above from all time high which was touched on 02/10/22.

Compared to the average trading volume of 9.88M shares, HUT reached a trading volume of 12420647 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Hut 8 Mining Corp. [HUT]?

Stifel have made an estimate for Hut 8 Mining Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 25, 2022. While these analysts kept the previous recommendation, DA Davidson raised their target price to Buy. The new note on the price target was released on October 15, 2021, representing the official price target for Hut 8 Mining Corp. stock. Previously, the target price had yet another raise to $12, while Canaccord Genuity analysts kept a Buy rating on HUT stock.

The Average True Range (ATR) for Hut 8 Mining Corp. is set at 0.17, with the Price to Sales ratio for HUT stock in the period of the last 12 months amounting to 1.83. The Price to Book ratio for the last quarter was 0.41, with the Price to Cash per share for the same quarter was set at 1.97.

How has HUT stock performed recently?

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 -3.07. With this latest performance, HUT shares dropped by -6.51% in over the last four-week period, additionally sinking by -77.17% over the last 6 months – not to mention a drop of -61.46% 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 43.57, with the RSI for the last a single of trading hit 50.10, and the three-weeks RSI is set at 39.77 for Hut 8 Mining Corp. [HUT]. The present Moving Average for the last 50 days of trading for this stock 2.0846, while it was recorded at 1.5140 for the last single week of trading, and 6.5781 for the last 200 days.

Hut 8 Mining Corp. [HUT]: Deeper insight into the 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 20.10 and a Current Ratio set at 20.10.

Insider trade positions for Hut 8 Mining Corp. [HUT]

There are presently around $40 million, or 21.45% of HUT stock, in the hands of institutional investors. The top three institutional holders of HUT stocks are: FMR LLC with ownership of 8,343,483, which is approximately 9.228% of the company’s market cap and around 7.39% of the total institutional ownership; MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., holding 2,200,499 shares of the stock with an approximate value of $3.48 million in HUT stocks shares; and INVESCO LTD., currently with $2.8 million in HUT stock with ownership of nearly -32.252% 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 67 institutional holders increased their position in Hut 8 Mining Corp. [NASDAQ:HUT] by around 5,240,918 shares. Additionally, 73 investors decreased positions by around 6,996,468 shares, while 20 investors held positions by with 12,849,494 shares. The mentioned changes placed institutional holdings at 25,086,880 shares, according to the latest SEC report filing. HUT stock had 29 new institutional investments in for a total of 638,067 shares, while 41 institutional investors sold positions of 2,217,751 shares during the same period.