The stock of Hut 8 Mining Corp. (NASDAQ:HUT) decreased by -$0.19 on Monday to finish at $2.78, down -6.40 percent. The last five days have seen an average of 10,222,480 shares of common stock traded. 27 times new highs were reached in the current year, with a gain of $1.93. The average number of shares traded over the last 20 days was 9,985,545, while the average volume over the last 50 days totaled 13,035,334.
HUT stock dropped -33.17% since last month. On 08/14/23, the company’s shares reached a one-month low of $2.66. The stock touched a high of $4.55 on 07/14/23, after rallying from a low of $0.78 in 52 weeks. The price of HUT stock has risen by 227.06% or $1.93 this year, reaching a new high 27 times. Still, the stock price is down -38.90% from the 52-week high.
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Valuation Metrics
Beta for the stock is 3.05. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 7.27, the price-to-book (PB) ratio of 1.31.
Financial Health
For the recent quarter, Hut 8 Mining Corp.’s quick ratio was 9.90, while its current ratio was 9.90, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the recent quarter is 0.07, and the total debt to equity ratio is 0.10. As far as profitability goes, gross margin for the trailing twelve months is -40.90% percent. Based on annual data, it had gross profit of -$19.2 million and revenue of $115.91 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. HUT’s return on assets (ROA) during the last 12 months has been -36.40%. There was a -49.90% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -41.60%.
Earnings Surprise
A lower net income was reported in the quarter under review than the previous quarter. EBITDA was -$10.76 million for the quarter. At the end of Hut 8 Mining Corp.’s most recent quarter, its liabilities totaled 52.34 million, while its total debt was $48.28 million.
Technical Picture
Here’s a quick look at Hut 8 Mining Corp.’s (HUT) price momentum from a technical perspective. As of 14 August, the RSI 9-day stood at 30.19%, suggesting the stock is Neutral, with a 61.99% historical volatility rate.
The stochastic %K and %D were 14.75% and 19.66% respectively, while the average true range (ATR) was 0.26. Based on the 14-day stochastic reading of 12.00%, the RSI (14) reading is 37.61%. On the 9-day MACD Oscillator, the stock is at -0.15, and the 14-day reading is at -0.29.
Analyst Ratings
Analysts have assigned Hut 8 Mining Corp. (HUT) an Overweight rating. HUT is a stock that is recommended for selling by 0 brokerage firms, while 2 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 1 other recommend it as a buy.
What is HUT’s price target for the next 12 months?
The current consensus forecast for the stock is between $1.50 and $3.00, with a median target price of $1.60. In analyzing these forecasts, the average price target given by analysts for Hut 8 Mining Corp. (HUT) is $2.03.
