Hut 8 Corp [NASDAQ: HUT] loss -1.60% or -0.11 points to close at $6.77 with a heavy trading volume of 3401708 shares. The company report on February 7, 2024 at 7:30 AM that Hut 8 Announces Leadership Transition.
President Asher Genoot Appointed Chief Executive Officer.
The daily chart for HUT points out that the company has recorded -58.59% loss over the past six months.
If we look at the average trading volume of 6.12M shares, HUT reached to a volume of 3401708 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 Corp [HUT]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HUT shares is $8.14 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 2.50. 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 Corp shares, keeping their opinion on the stock as Sell, with their previous recommendation back on February 06, 2024.
The Average True Range (ATR) for Hut 8 Corp is set at 1.00, with the Price to Sales ratio for HUT stock in the period of the last 12 months amounting to 10.55. The Price to Book ratio for the last quarter was 1.02, with the Price to Cash per share for the same quarter was set at 3.02. Price to Free Cash Flow for HUT in the course of the last twelve months was 50.15 with Quick ratio for the last quarter at 4.61.
Trading performance analysis for HUT stock
Hut 8 Corp [HUT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.37. With this latest performance, HUT shares dropped by -43.58% in over the last four-week period, additionally sinking by -58.59% over the last 6 months – not to mention a drop of -43.11% 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 35.43, with the RSI for the last a single of trading hit 31.41, and the three-weeks RSI is set at 38.55 for Hut 8 Corp [HUT]. The present Moving Average for the last 50 days of trading for this stock 10.19, while it was recorded at 7.06 for the last single week of trading, and 11.52 for the last 200 days.
Hut 8 Corp [HUT]: A deeper dive into fundamental analysis
Hut 8 Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.61 and a Current Ratio set at 4.61.
Hut 8 Corp [HUT]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Hut 8 Corp posted -4.5/share EPS, while the average EPS was predicted by analysts to be reported at -0.7/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -542.90%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HUT.
An analysis of Institutional ownership at Hut 8 Corp [HUT]
The top three institutional holders of HUT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in HUT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in HUT stock with ownership which is approximately 5.8325%.
