Hut 8 Mining Corp. [HUT] is -55.16% lower this YTD. Is it still time to buy?

Hut 8 Mining Corp. [NASDAQ: HUT] price surged by 18.92 percent to reach at $0.56. The company report on August 11, 2022 that Hut 8 Reports Operating and Financial Results for Q2 2022.


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Strong quarterly revenue of $43.8 million.

A sum of 14800673 shares traded at recent session while its average daily volume was at 12.82M shares. Hut 8 Mining Corp. shares reached a high of $3.56 and dropped to a low of $2.87 until finishing in the latest session at $3.52.

Guru’s Opinion on 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 0.29, with the Price to Sales ratio for HUT stock in the period of the last 12 months amounting to 3.55. The Price to Book ratio for the last quarter was 1.23, with the Price to Cash per share for the same quarter was set at 1.20.

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 47.90. With this latest performance, HUT shares gained by 131.58% in over the last four-week period, additionally sinking by -53.93% over the last 6 months – not to mention a drop of -46.42% 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 78.65, with the RSI for the last a single of trading hit 85.28, and the three-weeks RSI is set at 71.70 for Hut 8 Mining Corp. [HUT]. The present Moving Average for the last 50 days of trading for this stock 1.93, while it was recorded at 2.82 for the last single week of trading, and 5.73 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 10.60 and a Current Ratio set at 10.60.

Hut 8 Mining Corp. [HUT] Insider Position Details

There are presently around $69 million, or 19.99% of HUT stock, in the hands of institutional investors. The top three institutional holders of HUT stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 2,734,200, which is approximately New of the company’s market cap and around 6.84% of the total institutional ownership; MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., holding 2,165,744 shares of the stock with an approximate value of $7.62 million in HUT stocks shares; and INVESCO LTD., currently with $6.25 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 68 institutional holders increased their position in Hut 8 Mining Corp. [NASDAQ:HUT] by around 8,336,719 shares. Additionally, 74 investors decreased positions by around 15,628,462 shares, while 23 investors held positions by with 4,494,887 shares. The mentioned changes placed institutional holdings at 19,470,294 shares, according to the latest SEC report filing. HUT stock had 40 new institutional investments in for a total of 4,336,903 shares, while 42 institutional investors sold positions of 10,571,857 shares during the same period.

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