Hut 8 Mining Corp. [NASDAQ: HUT] gained 10.49% or 0.15 points to close at $1.58 with a heavy trading volume of 14988328 shares. The company report on January 6, 2023 that Hut 8 Mining Production and Operations Update for December 2022.
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It opened the trading session at $1.39, the shares rose to $1.59 and dropped to $1.3535, the range by which the price of stock traded the whole day. The daily chart for HUT points out that the company has recorded 0.00% loss over the past six months. However, it is still -102.56% lower than its most recent low trading price.
If we look at the average trading volume of 6.98M shares, HUT reached to a volume of 14988328 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]:
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 0.13, with the Price to Sales ratio for HUT stock in the period of the last 12 months amounting to 2.24. The Price to Book ratio for the last quarter was 0.62, with the Price to Cash per share for the same quarter was set at 0.97.
Trading performance analysis for HUT stock
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 72.72. With this latest performance, HUT shares gained by 51.92% in over the last four-week period, additionally sinking by 0.00% over the last 6 months – not to mention a drop of -77.17% 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 74.00, with the RSI for the last a single of trading hit 84.49, and the three-weeks RSI is set at 64.77 for Hut 8 Mining Corp. [HUT]. The present Moving Average for the last 50 days of trading for this stock 1.2165, while it was recorded at 1.2860 for the last single week of trading, and 2.1736 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 +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.
An analysis of insider ownership at Hut 8 Mining Corp. [HUT]
There are presently around $26 million, or 10.05% 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 5.96% of the total institutional ownership; PINPOINT ASSET MANAGEMENT LTD, holding 1,660,660 shares of the stock with an approximate value of $2.62 million in HUT stocks shares; and BARCLAYS PLC, currently with $2.15 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 6,439,050 shares. Additionally, 55 investors decreased positions by around 13,893,518 shares, while 27 investors held positions by with 3,689,739 shares. The mentioned changes placed institutional holdings at 16,642,829 shares, according to the latest SEC report filing. HUT stock had 18 new institutional investments in for a total of 2,270,007 shares, while 30 institutional investors sold positions of 7,537,724 shares during the same period.