Hut 8 Corp (NASDAQ: HUT) is -40.17% lower on its value in year-to-date trading and has touched a low of $7.67 and a high of $31.95 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 $11.79 in the last trading session, with the day’s gains setting it 0.47%.
Currently trading at $12.26, the stock is 2.93% and -11.58% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 6.58 million and changing 3.99% at the moment leaves the stock -27.70% off its SMA200. HUT registered 52.30% gain for a year compared to 6-month loss of -15.27%. The firm has a 50-day simple moving average (SMA 50) of $14.0362 and a 200-day simple moving average (SMA200) of $16.978275.
The stock witnessed a -12.11% gain in the last 1 month and extending the period to 3 months gives it a -52.59%, and is 7.26% up 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 7.11% over the week and 9.86% over the month.
Hut 8 Corp (HUT) has around 222 employees, a market worth around $1.27B and $162.39M in sales. Current P/E ratio is 3.59 and Fwd P/E is 35.54. Profit margin for the company is 204.38%. Distance from 52-week low is 59.84% and -61.63% from its 52-week high. The company has generated returns on investments over the last 12 months (26.55%).
with sales reaching $31.52M over the same period.The EPS is expected to shrink by -108.55% this year, but quarterly earnings will post 55.85% year-over-year. Quarterly sales are estimated to shrink -39.09% in year-over-year returns.
303.0 institutions hold shares in Hut 8 Corp (HUT), with institutional investors hold 131.36% of the company’s shares. The shares outstanding are 99.48M, and float is at 92.16M with Short Float at 12.43%. Institutions hold 61.61% of the Float.
The top institutional shareholder in the company is BLACKROCK INC. with over 6.27 million shares valued at $94.03 million. The investor’s holdings represent 6.955 of the HUT Shares outstanding. As of 2024-06-30, the second largest holder is VANGUARD GROUP INC with 5.6 million shares valued at $83.99 million to account for 6.2121 of the shares outstanding. The other top investors are MOORE CAPITAL MANAGEMENT, LP which holds 3.14 million shares representing 3.4801 and valued at over $47.05 million, while CASTLE HOOK PARTNERS LP holds 2.7616 of the shares totaling 2.49 million with a market value of $37.34 million.
Hut 8 Corp (HUT) Insider Activity
The most recent transaction is an insider sale by Flinn Joseph, the company’s Director. SEC filings show that Flinn Joseph sold 7,618 shares of the company’s common stock on Aug 16 ’24 at a price of $11.74 per share for a total of $89427.0. Following the sale, the insider now owns 11861.0 shares.
Still, SEC filings show that on Aug 02 ’24, Visram Shenif (Chief Financial Officer) disposed off 20,239 shares at an average price of $13.38 for $0.27 million. The insider now directly holds 43,959 shares of Hut 8 Corp (HUT).
