Hut 8 Corp (NASDAQ:HUT) shares, rose in value, with the stock price up by 5.68% to the previous day’s close as strong demand from buyers drove the stock to $18.16.
Actively observing the price movement in the last trading, the stock closed the session at $17.18, falling within a range of $16.6501 and $18.38. The PE ratio was 16.52 over 12-month period. Referring to stock’s 52-week performance, its high was $21.10, and the low was $6.18. On the whole, HUT has fluctuated by 57.12% over the past month.
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With the market capitalization of Hut 8 Corp currently standing at about $2.30 billion, investors are eagerly awaiting this quarter’s results, scheduled for in November.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 233.9M, with a low estimate of 47.36M and a high estimate of 70.96M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 55.88M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that HUT’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium-term indicators have put the stock in the category of 50% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the price of HUT currently trading nearly 32.78% and 49.33% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 75.67, while the 7-day volatility ratio is showing 10.00% which for the 30-day chart, stands at 8.24%. Furthermore, Hut 8 Corp (HUT)’s beta value is 3.38, and its average true range (ATR) is 1.23.
A comparison of Hut 8 Corp (HUT) with its peers suggests the former has fared considerably weaker in the market. HUT showed an intraday change of 5.68% in last session, and over the past year, it grew by 69.67%%.
Data on historical trading for Hut 8 Corp (NASDAQ:HUT) indicates that the trading volumes over the past 10 days have averaged 6.26 and over the past 3 months, they’ve averaged 4.34 million. According to company’s latest data on outstanding shares, there are 88.96 million shares outstanding.
Nearly 11.32% of Hut 8 Corp’s shares belong to company insiders and institutional investors own 56.21% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 15.15 million shares as on 2024-10-15, resulting in a short ratio of 4.04. According to the data, the short interest in Hut 8 Corp (HUT) stood at 1802.00 of shares outstanding as of 2024-10-15; the number of short shares registered in 2024-09-13 reached 15.54 million. The stock has risen by 36.09% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the HUT stock heading into the next quarter.
