Are You Interested In Investing In Hut 8 Mining Corp. (HUT)? Check This Out First

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As of Wednesday close, Hut 8 Mining Corp.’s (NASDAQ:HUT) stock was up $0.07, moving up 5.63 percent to $1.22. The average number of shares traded per day over the past five days has been 8,573,440 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.0900 fall in that time frame. In the last twenty days, the average volume was 9,848,120, while in the previous 50 days, it was 8,522,822.

Since last month, HUT stock retreated -47.41%. Shares of the company fell to $1.0750 on 11/22/22, the lowest level in the past month. A 52-week high of $13.28 was reached on 02/10/22 after having rallying from a 52-week low of $1.08. Since the beginning of this year, HUT’s stock price has dropped by -84.46% or -$6.6300, and marked a new high 3 times. However, the stock has declined by -90.81% since its 52-week high.


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Valuation Metrics

The stock’s beta is 2.93. Besides these, the trailing price-to-sales (P/S) ratio of 1.77, the price-to-book (PB) ratio of 0.48.

Financial Health

In the recent quarter, Hut 8 Mining Corp.’s quick ratio stood at 9.60, while its current ratio was 9.60, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the recent quarter was 0.07, and the total debt-to-equity ratio was 0.10. On the profitability front, the trailing twelve-month gross margin is 15.70% percent. In the recent year, operating margins totaled -11.20%. Based on annual data, HUT earned $70.85 million in gross profit and brought in $138.65 million in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 7.10%. Return on equity (ROE) for the past 12 months was -30.10%.

According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. During the quarter, the company generated -$0.27 million in EBITDA. The liabilities of Hut 8 Mining Corp. were 51.44 million at the end of its most recent quarter, and its total debt was $49.8 million.

Technical Picture

This quick technical analysis looks at Hut 8 Mining Corp.’s (HUT) price momentum. With a historical volatility rate of 80.48%, the RSI 9-day stood at 28.73% on 23 November.

With respect to its five-day moving average, the current Hut 8 Mining Corp. price is down by -6.87% percent or -$0.0900. At present, HUT shares trade -46.02% below its 20-day simple moving average and -18.12% percent below its 100-day simple moving average. However, the stock is currently trading approximately -41.20% below its SMA50 and -83.40% below its SMA200.

Stochastic coefficient K was 7.24% and Stochastic coefficient D was 5.57%, while ATR was 0.1647. Given the Stochastic reading of 11.93% for the 14-day period, the RSI (14) reading has been calculated as 32.54%. As of today, the MACD Oscillator reading stands at -0.1456, while the 14-day reading stands at -0.3768.

Analyst Ratings

Hut 8 Mining Corp. downgraded its rating on Hut 8 Mining Corp. (NASDAQ: HUT) to a Hold in a note to investors on November 11, 2022. The analysts firm previously had a Buy rating on the stock.Hut 8 Mining Corp. (HUT) has been rated Overweight by analysts. According to 0 brokerage firms, HUT is a sell, and 2 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Hut 8 Mining Corp. stock as buy, with 3 recommending it as overweight.

With a median target price of $4.75, the current consensus forecast for the stock is $2.00 – $6.00. Based on these forecasts, analysts predict Hut 8 Mining Corp. (HUT) will achieve an average price target of $4.15.

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