The trading price of Hut 8 Corp (NASDAQ:HUT) closed lower on Monday, March 03, and closing at $14.08, -4.54% lower than its previous close.
The company’s P/E ratio in the trailing 12-month period was 7.02. In examining the 52-week price action we see that the stock hit a 52-week high of $31.95 and a 52-week low of $6.77. Over the past month, the stock has lost -34.51% in value.
Hut 8 Corp, whose market valuation is $1.32 billion at the time of this writing, is expected to release its quarterly earnings report in April. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -0.14 per share this quarter, however they have predicted annual earnings per share of 0.07 for current year and 0.54 for next year.
Analysts have forecast the company to bring in revenue of 46.85M for the current quarter, with the likely lows of 34.6M and highs of 64.5M. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue is 281.55M.
On the technical side, indicators suggest HUT has a 50% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Buy, while an average of long term indicators suggests that the stock is currently 50% Sell.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned HUT a recommendation rating is 12. Out of them, 2 rate it a Hold, while 9 recommend Buy, whereas 0 assign an Overweight rating. 0 analyst(s) have tagged Hut 8 Corp (HUT) as Underweight, while 1 advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
A quick review shows that HUT’s price is currently -24.86% off the SMA20 and -35.37% off the SMA50. The RSI metric on the 14-day chart is currently showing 23.34, and weekly volatility stands at 14.29%. When measured over the past 30 days, the indicator reaches 8.84%. Hut 8 Corp (NASDAQ:HUT)’s beta value is currently sitting at 3.83, while the Average True Range indicator is currently displaying 1.85. With analysts defining $8-$32 as the low and high price targets, we arrive at a consensus price target of $20 for the trailing 12-month period. The current price is about 43.18% off the estimated low and -127.27% off the forecast high, based on this estimate. Investors will be thrilled if HUT’s share price rises to $20, which is the median consensus price. At that level, HUT’s share price would be -42.05% below current price.
To see how Hut 8 Corp stock has been performing in comparison to its peers in the industry, here are the numbers: HUT stock’s performance was -4.54% in the latest trading, and 61.28% in the past year. Hut 8 Corp has a P/E ratio of 7.02.
An evaluation of the daily trading volume of Hut 8 Corp (NASDAQ:HUT) indicates that the 3-month average is 5.85 million.
Currently, records show that 93.51 million of the company’s shares remain outstanding. The insiders hold 11.00% of outstanding shares, whereas institutions hold 65.09%. However, since the stock’s price has seen -31.28% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.
