Hut 8 Corp (NASDAQ:HUT) price on Thursday, February 27, fall -3.55% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $14.41.
A look at the stock’s price movement, the close in the last trading session was $14.94. The PE ratio in trailing twelve months stood at 7.18. Turning to its 52-week performance, $31.95 and $6.77 were the 52-week high and 52-week low respectively. Overall, HUT moved -26.52% over the past month.
Hut 8 Corp’s market cap currently stands at around $1.35 billion, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 38.41M 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% Sell. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell 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 -25.94% and -35.49% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 22.39, while 7-day volatility ratio is 12.50% and 7.79% in the 30-day chart. Further, Hut 8 Corp (HUT) has a beta value of 3.83, and an average true range (ATR) of 1.75. Analysts have given the company’s stock an average 52-week price target of $20, forecast between a low of $8 and high of $32. Looking at the price targets, the low is 44.48% off current price level while to achieve the yearly target high, price needs to move -122.07%. Nonetheless, investors will most likely welcome a -38.79% jump to $20 which is the analysts’ median price.
If we refocus on Hut 8 Corp (NASDAQ:HUT), historical trading data shows that trading volumes averaged 5.95 million over the past 3 months. The company’s latest data on shares outstanding shows there are 93.51 million shares.
The 11.00% of Hut 8 Corp’s shares are in the hands of company insiders while institutional holders own 65.06% of the company’s shares. Current price change has pushed the stock -29.67% 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.
