Stocks of Hut 8 Mining Corp (NASDAQ:HUT) traded higher last session on Wall Street, down -6.45% to $2.03.
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 $2.17, this indicates a potential upside of 26.73 percent. HUT stock price is now -2.11% away from the 50-day moving average and -9.50% away from the 200-day moving average. The market capitalization of the company currently stands at $450.03M.
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 0.49% of the company’s stock is owned by insiders.
Monday’s opening bell rang with an opening price of $2.1100 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 6.96, and a quick ratio of 6.96. The fifty day moving average price for HUT is $2.0738 and a two-hundred day moving average price translates $2.2430 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.
Hut 8 Mining Corp(HUT) Company Profile
Hut 8 Mining Corp. operates as a cryptocurrency mining company in North America. It provides computing power to the mining pools in exchange for digital assets. The company serve commercial customers across various industries, including financial, healthcare, government, and those in the growing digital asset, Blockchain, gaming, virtual effects, and Web 3.0 space. Hut 8 Mining Corp. was incorporated in 2011 and is headquartered in Toronto, Canada.