Hut 8 Corp (NASDAQ:HUT) price on Thursday, January 16, rose 1.26% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $26.59.
A look at the stock’s price movement, the close in the last trading session was $26.26, moving within a range at $25.56 and $27.08. The PE ratio in trailing twelve months stood at 13.25. Turning to its 52-week performance, $31.95 and $6.18 were the 52-week high and 52-week low respectively. Overall, HUT moved -2.71% over the past month.
Hut 8 Corp’s market cap currently stands at around $2.49 billion, with investors looking forward to this quarter’s earnings report slated for in February.
Analysts have a consensus estimate of 38.37M for the company’s revenue for the quarter, with a low and high estimate of 29.6M and 56.37M respectively.
Turning to the stock’s technical picture we see that short term indicators suggest on average that HUT is a 50% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
12 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 2 analyst(s) rate the stock as a Hold, 9 recommend HUT as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
HUT’s current price about 10.45% and 8.79% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 56.56, while 7-day volatility ratio is 6.67% and 9.42% in the 30-day chart. Further, Hut 8 Corp (HUT) has a beta value of 3.66, and an average true range (ATR) of 2.39. Analysts have given the company’s stock an average 52-week price target of $15.25, forecast between a low of $8 and high of $32. Looking at the price targets, the low is 69.91% off current price level while to achieve the yearly target high, price needs to move -20.35%. Nonetheless, investors will most likely welcome a 42.65% jump to $15.25 which is the analysts’ median price.
If we refocus on Hut 8 Corp (NASDAQ:HUT), historical trading data shows that trading volumes averaged 5.21 over the past 10 days and 7.21 million over the past 3 months. The company’s latest data on shares outstanding shows there are 93.51 million shares.
The 11.01% of Hut 8 Corp’s shares are in the hands of company insiders while institutional holders own 57.23% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 10.16 million on 2024-12-31, giving us a short ratio of 1.38. The data shows that as of 2024-12-31 short interest in Hut 8 Corp (HUT) stood at 1205.0 of shares outstanding, with shares short rising to 7.13 million registered in 2024-11-29. Current price change has pushed the stock 29.77% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the HUT stock continues to rise going into the next quarter.
