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These Numbers Show Favorable Signs for Hut 8 Corp (HUT)

Hut 8 Corp (NASDAQ: HUT) is -29.69% lower on its value in year-to-date trading and has touched a low of $6.18 and a high of $22.75 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The HUT stock was last observed hovering at around $10.82 in the last trading session, with the day’s loss setting it -1.44%.

Currently trading at $9.38, the stock is 10.59% and 13.43% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.53 million and changing -13.31% at the moment leaves the stock -17.57% off its SMA200. HUT registered 7.82% gain for a year compared to 6-month loss of -3.79%. The firm has a 50-day simple moving average (SMA 50) of $13.67 and a 200-day simple moving average (SMA200) of -$42.99.

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The stock witnessed a 5.16% gain in the last 1 month and extending the period to 3 months gives it a -29.69%, and is -0.21% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 12.33% over the week and 10.39% over the month.

Profit margin for the company is -192.10%. Distance from 52-week low is 51.78% and -58.77% from its 52-week high. The company has generated returns on investments over the last 12 months (-35.78%).

Hut 8 Corp quarterly earnings per share for the current quarter are estimated at -$0.25 with sales reaching $23.66M over the same period., but quarterly earnings will post -39.60% year-over-year. Quarterly sales are estimated to grow 8.40% in year-over-year returns.

Hut 8 Corp (HUT) Top Institutional Holders

162 institutions hold shares in Hut 8 Corp (HUT), with institutional investors hold 24.99% of the company’s shares. The shares outstanding are 88.96M, and float is at 88.65M with Short Float at 10.78%. Institutions hold 10.65% of the Float.

The top institutional shareholder in the company is State Street Corporation with over 6.86 million shares valued at $22.63 million. The investor’s holdings represent 3.09% of the HUT Shares outstanding. As of Jun 29, 2023, the second largest holder is Mirae Asset Global Investments Co., Ltd. with 3.47 million shares valued at $11.46 million to account for 1.57% of the shares outstanding. The other top investors are Van Eck Associates Corporation which holds 1.9 million shares representing 0.86% and valued at over $6.27 million, while Susquehanna International Group, LLP holds 0.81% of the shares totaling 1.8 million with a market value of $5.95 million.

Hut 8 Corp (HUT) Insider Activity

The most recent transaction is an insider sale by Leverton Jaime,the company’sChief Executive Officer. SEC filings show that Leverton Jaime sold 35,761 shares of the company’s common stock on Jan 12 ’24 at a price of $10.10 per share for a total of $0.36 million. Following the sale, the insider now owns 0.27 million shares.

Hut 8 Corp disclosed in a document filed with the SEC on Dec 22 ’23 that Leverton Jaime (Chief Executive Officer) sold a total of 98,724 shares of the company’s common stock. The trade occurred on Dec 22 ’23 and was made at $14.21 per share for $1.4 million. Following the transaction, the insider now directly holds 0.24 million shares of the HUT stock.

Still, SEC filings show that on Dec 22 ’23, Amdiss Aniss (Chief Legal Officer) disposed off 18,513 shares at an average price of $14.21 for $0.26 million. The insider now directly holds 23,333 shares of Hut 8 Corp (HUT).

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