Hut 8 Corp [HUT] Stock trading around $9.85 per share: What’s Next?

Hut 8 Corp [NASDAQ: HUT] stock went on an upward path that rose over 1.55% on Wednesday, amounting to a one-week price increase of more than 11.55%.

Over the last 12 months, HUT stock rose by 2.07%. The one-year Hut 8 Corp stock forecast points to a potential upside of 15.81. The average equity rating for HUT stock is currently 1.80, trading closer to a bullish pattern in the stock market.

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The market cap for the stock reached $890.34 million, with 90.39 million shares outstanding and 79.83 million shares in the current float. Compared to the average trading volume of 3.66M shares, HUT stock reached a trading volume of 4324661 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 $11.70 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 1.80. 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.

Craig Hallum have made an estimate for Hut 8 Corp shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 16, 2024. While these analysts kept the previous recommendation, The Benchmark Company raised their target price to Buy. The new note on the price target was released on April 22, 2024, representing the official price target for Hut 8 Corp stock. Previously, the target price had yet another raise to $12, while Needham analysts kept a Buy rating on HUT stock.

The Average True Range (ATR) for Hut 8 Corp is set at 0.69, with the Price to Sales ratio for HUT stock in the period of the last 12 months amounting to 15.60. The Price to Book ratio for the last quarter was 1.19, with the Price to Cash per share for the same quarter was set at 0.15. Price to Free Cash Flow for HUT in the course of the last twelve months was 74.13 with Quick ratio for the last quarter at 0.31.

HUT Stock Performance Analysis:

Hut 8 Corp [HUT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 11.55. With this latest performance, HUT shares gained by 2.28% in over the last four-week period, additionally sinking by -0.51% over the last 6 months – not to mention a rise of 2.07% 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 62.83, with the RSI for the last a single of trading hit 69.11, and the three-weeks RSI is set at 58.61 for Hut 8 Corp [HUT]. The present Moving Average for the last 50 days of trading for this stock 8.66, while it was recorded at 9.52 for the last single week of trading, and 9.89 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 0.31 and a Current Ratio set at 0.31.

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%.