As of Thursday close, Hut 8 Mining Corp.’s (NASDAQ:HUT) stock was down -$0.15, moving down -5.84 percent to $2.42. The average number of shares traded per day over the past five days has been 8,842,500 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.63 fall in that time frame. In the last twenty days, the average volume was 9,648,715, while in the previous 50 days, it was 13,274,614.
Since last month, HUT stock retreated -36.65%. Shares of the company fell to $2.40 on 08/17/23, the lowest level in the past month. A 52-week high of $4.55 was reached on 07/14/23 after having rallying from a 52-week low of $0.78. Since the beginning of this year, HUT’s stock price has risen by 184.71% or $1.57, and marked a new high 27 times. However, the stock has declined by -46.81% since its 52-week high.
Valuation Metrics
The stock’s beta is 3.08. Besides these, the trailing price-to-sales (P/S) ratio of 6.33, the price-to-book (PB) ratio of 1.14.
Financial Health
In the recent quarter, Hut 8 Mining Corp.’s quick ratio stood at 9.90, while its current ratio was 9.90, 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 -40.90% percent. Based on annual data, HUT earned -$19.2 million in gross profit and brought in $115.91 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 -49.90%. Return on equity (ROE) for the past 12 months was -41.60%.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. During the quarter, the company generated -$5.96 million in EBITDA. The liabilities of Hut 8 Mining Corp. were 64.25 million at the end of its most recent quarter.
Technical Picture
This quick technical analysis looks at Hut 8 Mining Corp.’s (HUT) price momentum. With a historical volatility rate of 63.15%, the RSI 9-day stood at 21.95% on 17 August.
With respect to its five-day moving average, the current Hut 8 Mining Corp. price is down by -20.66% percent or -$0.63. At present, HUT shares trade -32.96% below its 20-day simple moving average and +39.08% percent above its 100-day simple moving average. However, the stock is currently trading approximately +16.35% above its SMA50 and +2.54% above its SMA200.
Stochastic coefficient K was 3.18% and Stochastic coefficient D was 5.93%, while ATR was 0.24. Given the Stochastic reading of 1.61% for the 14-day period, the RSI (14) reading has been calculated as 30.96%. As of today, the MACD Oscillator reading stands at -0.32, while the 14-day reading stands at -0.48.
Analyst Ratings
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 1 recommending it as overweight.
With a median target price of $2.75, the current consensus forecast for the stock is $2.60 – $2.75. Based on these forecasts, analysts predict Hut 8 Mining Corp. (HUT) will achieve an average price target of $2.70.
