Hut 8 Corp [HUT] fell -33.81% so far this year. What now?

Hut 8 Corp [NASDAQ: HUT] traded at a high on Wednesday, posting a 13.35 gain after which it closed the day’ session at $8.83.

The results of the trading session contributed to over 4414554 shares changing hands. Over the past one week, the price volatility of Hut 8 Corp stands at 6.94% while the volatility over the past one month is 7.31%.

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The market cap for HUT stock reached $790.11 million, with 89.48 million shares outstanding and 89.13 million shares in the current float. Compared to the average trading volume of 3.84M shares, HUT reached a trading volume of 4414554 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $12.08 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 2.00. 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.

The Benchmark Company have made an estimate for Hut 8 Corp shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 22, 2024. While these analysts kept the previous recommendation, Needham raised their target price to Buy. The new note on the price target was released on March 18, 2024, representing the official price target for Hut 8 Corp stock. Previously, the target price had yet another raise to $5.50, while H.C. Wainwright analysts kept a Sell rating on HUT stock.

The Average True Range (ATR) for Hut 8 Corp is set at 0.67, with the Price to Sales ratio for HUT stock in the period of the last 12 months amounting to 13.84. The Price to Book ratio for the last quarter was 2.12, with the Price to Cash per share for the same quarter was set at 0.30. Price to Free Cash Flow for HUT in the course of the last twelve months was 65.79 with Quick ratio for the last quarter at 0.55.

How has HUT stock performed recently?

Hut 8 Corp [HUT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.81. With this latest performance, HUT shares gained by 21.96% in over the last four-week period, additionally sinking by -13.00% over the last 6 months – not to mention a drop of -5.56% 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 55.13, with the RSI for the last a single of trading hit 59.93, and the three-weeks RSI is set at 52.77 for Hut 8 Corp [HUT]. The present Moving Average for the last 50 days of trading for this stock 8.47, while it was recorded at 8.13 for the last single week of trading, and 10.06 for the last 200 days.

Hut 8 Corp [HUT]: Deeper insight into the fundamentals

Hut 8 Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.55 and a Current Ratio set at 0.55.

Insider trade positions for Hut 8 Corp [HUT]

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%.