Hut 8 Mining Corp [HUT] gain 151.76% so far this year. What now?

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Hut 8 Mining Corp [NASDAQ: HUT] gained 0.94% on the last trading session, reaching $2.14 price per share at the time. The company report on October 10, 2023 at 6:30 AM that Hut 8 Mining Production and Operations Update for September 2023.

At 9,366 BTC, Hut 8 continues to have one of the largest self-mined Bitcoin reserves of any publicly traded company.

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Hut 8 Mining Corp represents 221.69 million in outstanding shares, while the company has a total market value of $474.42 million with the latest information. HUT stock price has been found in the range of $2.0601 to $2.30.

If compared to the average trading volume of 9.09M shares, HUT reached a trading volume of 9005920 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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Here is what top equities market gurus are saying about Hut 8 Mining Corp [HUT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HUT shares is $2.70 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HUT stock is a recommendation set at 2.33. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

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.

The Average True Range (ATR) for Hut 8 Mining Corp is set at 0.18, with the Price to Sales ratio for HUT stock in the period of the last 12 months amounting to 6.91. The Price to Book ratio for the last quarter was 1.33, with the Price to Cash per share for the same quarter was set at 1.35.

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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 1.42. With this latest performance, HUT shares gained by 9.74% in over the last four-week period, additionally plugging by 28.92% over the last 6 months – not to mention a rise of 0.94% 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 53.93, with the RSI for the last a single of trading hit 57.00, and the three-weeks RSI is set at 50.88 for Hut 8 Mining Corp [HUT]. The present Moving Average for the last 50 days of trading for this stock 2.10, while it was recorded at 2.21 for the last single week of trading, and 2.22 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 -50.06 and a Gross Margin at -26.73. Hut 8 Mining Corp’s Net Margin is presently recorded at -161.14.

Return on Total Capital for HUT is now -15.01, given the latest momentum, and Return on Invested Capital for the company is -49.92. Return on Equity for this stock declined to -52.94, with Return on Assets sitting at -42.84. When it comes to the capital structure of this company, Hut 8 Mining Corp [HUT] has a Total Debt to Total Equity ratio set at 13.49. Additionally, HUT Total Debt to Total Capital is recorded at 11.89, with Total Debt to Total Assets ending up at 11.48. Long-Term Debt to Equity for the company is recorded at 8.88, with the Long-Term Debt to Total Capital now at 7.82.

Reflecting on the efficiency of the workforce at the company, Hut 8 Mining Corp [HUT] managed to generate an average of -$2,477,684 per employee. Receivables Turnover for the company is 2.52 with a Total Asset Turnover recorded at a value of 0.27.Hut 8 Mining Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.96 and a Current Ratio set at 6.96.

An analysis of Institutional ownership at Hut 8 Mining Corp [HUT]

The top three institutional holders of HUT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in HUT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in HUT stock with ownership which is approximately 5.7994%.

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