Market cap of Hut 8 Corp [HUT] reaches 723.74M – now what?

Hut 8 Corp [NASDAQ: HUT] price plunged by -4.92 percent to reach at -$0.42. The company report on April 5, 2024 at 6:30 AM that Hut 8 Operations Update for March 2024.

25.5 EH/s and 884 MW under management as Hut 8 executes closure of Drumheller site and prepares to energize Salt Creek site; 9,102 Bitcoin on balance sheet positions Hut 8 to invest in growth as the halving approaches.

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The one-year HUT stock forecast points to a potential upside of 34.6. The average equity rating for HUT stock is currently 2.20, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $12.40 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 2.20. 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.

Needham have made an estimate for Hut 8 Corp shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 18, 2024. The new note on the price target was released on February 06, 2024, representing the official price target for Hut 8 Corp stock. Previously, the target price had yet another raise to $1.50, while H.C. Wainwright analysts kept a Neutral rating on HUT stock. On November 11, 2022, analysts decreased their price target for HUT shares from 5 to 2.

The Average True Range (ATR) for Hut 8 Corp is set at 0.89, with the Price to Sales ratio for HUT stock in the period of the last 12 months amounting to 12.68. The Price to Book ratio for the last quarter was 1.22, with the Price to Cash per share for the same quarter was set at 3.01. Price to Free Cash Flow for HUT in the course of the last twelve months was 60.26 with Quick ratio for the last quarter at 4.61.

HUT Stock Performance Analysis:

Hut 8 Corp [HUT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -16.31. With this latest performance, HUT shares gained by 13.74% in over the last four-week period, additionally sinking by -18.90% over the last 6 months – not to mention a drop of -18.08% 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 42.96, with the RSI for the last a single of trading hit 36.75, and the three-weeks RSI is set at 45.51 for Hut 8 Corp [HUT]. The present Moving Average for the last 50 days of trading for this stock 8.54, while it was recorded at 8.65 for the last single week of trading, and 11.24 for the last 200 days.

Insight into Hut 8 Corp Fundamentals:

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 Stock EPS

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.

Hut 8 Corp [HUT] Institutonal Ownership Details

The top three institutional holders of HUT stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in HUT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in HUT stock with ownership which is approximately 5.8386%.