In yesterday’s Wall Street session, Hut 8 Mining Corp (NASDAQ:HUT) shares traded at $1.95, down -2.01% from the previous session.
3 analysts cover Hut 8 Mining Corp (NASDAQ:HUT), according to research data. 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 $1.99, this indicates a potential upside of 38.19 percent. HUT stock price is now -25.52% away from the 50-day moving average and -7.61% away from the 200-day moving average. The market capitalization of the company currently stands at $432.30M.
The stock has received a hold rating from 2 analysts and a buy rating from 1. Brokers who have rated the stock have averaged $2.70 as their price target over the next twelve months.
A total of 0.81% 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 $1,353,000. GOLDENTREE ASSET MANAGEMENT LP invested $1,302,000 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 $951,000. NINEPOINT PARTNERS LP acquired a new stake in HUT for approximately $796,000. RENAISSANCE TECHNOLOGIES LLC purchased a new stake in HUT valued at around $606,000 in the second quarter. In total, there are 159 active investors with 16.00% ownership of the company’s stock.
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 6.96, and a quick ratio of 6.96. The fifty day moving average price for HUT is $2.5849 and a two-hundred day moving average price translates $2.1154 for the stock.
The latest earnings results from Hut 8 Mining Corp (NASDAQ: HUT) was released for Jun, 2023. The net profit margin was -128.04% and return on equity was -23.42% for HUT. 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.
