H.C. Wainwright lifts Hut 8 Mining Corp. [HUT] price estimate. Who else is bullish?

Hut 8 Mining Corp. [NASDAQ: HUT] stock went on an upward path that rose over 17.32% on Wednesday, amounting to a one-week price increase of more than 21.73%. The company report on December 12, 2022 that Hut 8 Appoints New Chief Financial Officer.

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Shenif Visram replaces Shane Downey, effective immediately.

This news release constitutes a “designated news release” for purposes of the Company’s prospectus supplement dated August 17, 2022, to its short form base shelf prospectus dated August 5, 2022.

Over the last 12 months, HUT stock dropped by -87.66%.

The market cap for the stock reached $274.00 million, with 194.53 million shares outstanding and 183.08 million shares in the current float. Compared to the average trading volume of 7.00M shares, HUT stock reached a trading volume of 5342996 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]:

H.C. Wainwright have made an estimate for Hut 8 Mining Corp. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 09, 2022. While these analysts kept the previous recommendation, Craig Hallum dropped their target price from $5 to $2. The new note on the price target was released on November 11, 2022, representing the official price target for Hut 8 Mining Corp. stock.

The Average True Range (ATR) for Hut 8 Mining Corp. is set at 0.08, with the Price to Sales ratio for HUT stock in the period of the last 12 months amounting to 1.47. The Price to Book ratio for the last quarter was 0.38, with the Price to Cash per share for the same quarter was set at 0.90.

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 21.73. With this latest performance, HUT shares dropped by -23.26% in over the last four-week period, additionally sinking by -30.49% over the last 6 months – not to mention a drop of -87.66% 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 44.63, with the RSI for the last a single of trading hit 53.65, and the three-weeks RSI is set at 41.25 for Hut 8 Mining Corp. [HUT]. The present Moving Average for the last 50 days of trading for this stock 1.3607, while it was recorded at 0.8545 for the last single week of trading, and 2.3406 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 9.60 and a Current Ratio set at 9.60.

Hut 8 Mining Corp. [HUT] Insider Position Details

There are presently around $16 million, or 11.00% of HUT stock, in the hands of institutional investors. The top three institutional holders of HUT stocks are: MIRAE ASSET GLOBAL INVESTMENTS CO., LTD. with ownership of 2,591,624, which is approximately 19.664% of the company’s market cap and around 6.22% of the total institutional ownership; PINPOINT ASSET MANAGEMENT LTD, holding 1,660,660 shares of the stock with an approximate value of $1.59 million in HUT stocks shares; and BARCLAYS PLC, currently with $1.31 million in HUT stock with ownership of nearly 10549.922% 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 57 institutional holders increased their position in Hut 8 Mining Corp. [NASDAQ:HUT] by around 6,422,050 shares. Additionally, 52 investors decreased positions by around 13,860,811 shares, while 28 investors held positions by with 3,647,997 shares. The mentioned changes placed institutional holdings at 16,634,864 shares, according to the latest SEC report filing. HUT stock had 17 new institutional investments in for a total of 2,250,007 shares, while 28 institutional investors sold positions of 7,505,452 shares during the same period.


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