Hut 8 Mining Corp. (HUT) Shares: Are They Risky Or Cheap?

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Hut 8 Mining Corp. (NASDAQ:HUT) finished Thursday with a subtraction of -$0.11 to close at $1.80, a downside of -5.76 percent. An average of 8,284,220 shares of common stock have been traded in the last five days. There was a fall of -$0.3200 in the past week, and it reached a new high 16 times over the past 12 months. The last 20 days have seen an average of 9,931,225 shares traded, while the 50-day average volume stands at 13,147,360.

HUT stock has decreased by -18.18% in the last month. The company shares reached their 1-month lowest point of $1.7400 on 09/07/22. With the stock rallying to its 52-week high on 02/10/22, shares of the company touched a low of $1.27 and a high of $16.57 in 52 weeks. It has reached a new high 3 times so far this year and lost -77.07% or -$6.0500 in price. In spite of this, the price is down -89.14% from the 52-week high.


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Valuation Metrics

Hut 8 Mining Corp. (HUT) stock’s beta is 2.98. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.47, the price-to-book (PB) ratio at 0.63.

Financial Health

The quick ratio of Hut 8 Mining Corp. for the recent quarter was 10.60, and the current ratio was 10.60, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.07 and a total debt to equity ratio of 0.10 for the recent quarter. Its gross profit as reported stood at $70.85 million compared to revenue of $138.65 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Hut 8 Mining Corp.’s return on assets was -17.80%.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Hut 8 Mining Corp. (HUT) price momentum. RSI 9-day as of the close on 22 September was 37.36%, suggesting the stock is Neutral, with historical volatility in this time frame at 99.07%.

As of today, HUT’s price is $1.8800 -15.09% or -$0.3200 from its 5-day moving average. HUT is currently trading -18.92% lower than its 20-day SMA and -49.44% lower than its 100-day SMA. However, the stock’s current price level is +20.00% above the SMA50 and -80.41% below the SMA200.

The stochastic %K and %D were 14.13% and 18.10%, respectively, and the average true range (ATR) was 0.1945. With the 14-day stochastic at 7.95% and the average true range at 0.2101, the RSI (14) stands at 40.83%. The stock has reached -0.1561 on the 9-day MACD Oscillator while the 14-day reading was at -0.1558.

Analyst Ratings

DA Davidson downgraded Hut 8 Mining Corp. (NASDAQ: HUT) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as a Buy. The consensus rating for Hut 8 Mining Corp. (HUT) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell HUT, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 4 others rate it as a “buy”.

What is HUT’s price target for the next 12 months?

Analysts predict a range of price targets between $2.99 and $5.00, with a median target of $4.75. Taking a look at these predictions, the average price target given by analysts for Hut 8 Mining Corp. (HUT) stock is $4.49.

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