Stocks of Hut 8 Mining Corp. (NASDAQ:HUT) traded higher last session on Wall Street, down -2.79% to $2.09.
According to the data, Hut 8 Mining Corp. (NASDAQ:HUT) has 3 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $2.75 and a low of $2.60, we find $2.75. Given the previous closing price of $2.15, this indicates a potential upside of 27.91 percent. HUT stock price is now -28.80% away from the 50-day moving average and 0.60% away from the 200-day moving average. The market capitalization of the company currently stands at $648.69M.
A total of 2 analysts have issued a hold rating and 1 have given it a buy rating. Brokers who have rated the stock have averaged $2.70 as their price target over the next twelve months.
A total of 0.75% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in HUT stock. A new stake in Hut 8 Mining Corp. shares was purchased by FIRST TRUST ADVISORS LP during the first quarter worth $1,450,000. GOLDENTREE ASSET MANAGEMENT LP invested $1,395,000 in shares of HUT during the first quarter. In the first quarter, SWISS NATIONAL BANK acquired a new stake in Hut 8 Mining Corp. valued at approximately $1,020,000. NINEPOINT PARTNERS LP acquired a new stake in HUT for approximately $853,000. RENAISSANCE TECHNOLOGIES LLC purchased a new stake in HUT valued at around $649,000 in the second quarter. In total, there are 159 active investors with 10.61% ownership of the company’s stock.
Tuesday’s opening bell rang with an opening price of $2.1700 for Hut 8 Mining Corp. (NASDAQ: HUT). During the past 12 months, Hut 8 Mining Corp. has had a low of $0.78 and a high of $4.55. As of last week, the company has a debt-to-equity ratio of 0.14, a current ratio of 7.00, and a quick ratio of 7.00. The fifty day moving average price for HUT is $2.8985 and a two-hundred day moving average price translates $2.0821 for the stock.
The latest earnings results from Hut 8 Mining Corp. (NASDAQ: HUT) was released for Jun, 2023. The company reported revenue of $14.27 million for the quarter, compared to $34.34 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -58.44 percent.
