The price of Hut 8 Mining Corp (NASDAQ:HUT) shares last traded on Wall Street rose 6.28% to $2.03.
Based on available information, 3 analysts follow Hut 8 Mining Corp (NASDAQ:HUT). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $3.50 and a low of $2.00, we find $2.25. Given the previous closing price of $1.91, this indicates a potential upside of 17.8 percent. HUT stock price is now 0.62% away from the 50-day moving average and -9.14% away from the 200-day moving average. The market capitalization of the company currently stands at $450.11M.
Among analysts, 2 rate the stock a hold while 1 rate it a buy. Brokers who have rated the stock have averaged $2.58 as their price target over the next twelve months.
A total of 0.49% of the company’s stock is owned by insiders.
A candlestick chart of Hut 8 Mining Corp (NASDAQ: HUT) showed a price of $1.9300 on Tuesday morning. 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 0.20, a current ratio of 4.61, and a quick ratio of 4.61. The fifty day moving average price for HUT is $2.0174 and a two-hundred day moving average price translates $2.2343 for the stock.
The latest earnings results from Hut 8 Mining Corp (NASDAQ: HUT) was released for Sep, 2023. The net profit margin was -192.10% and return on equity was -33.54% for HUT. The company reported revenue of $12.65 million for the quarter, compared to $24.27 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -47.85 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.
