Hut 8 Mining Corp. (NASDAQ:HUT) saw a downside of -0.42% to close Monday at $2.39 after subtracting -$0.01 on the day. The 5-day average trading volume is 9,206,260 shares of the company’s common stock. It has gained $2.87 in the past week and touched a new high 1 time within the past 5 days. An average of 9,534,370 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 13,412,448.
HUT’s 1-month performance is -34.16% or -$1.24 on its low of $2.25 reached on 08/18/23. The company’s shares have touched a 52-week low of $0.78 and high of $4.55, with the stock’s rally to the 52-week high happening on 07/14/23. YTD, HUT has achieved 181.18% or $1.54 and has reached a new high 27 times. However, the current price is down -47.47% from the 52-week high price.
Valuation Metrics
HUT stock has a beta of 3.09. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 7.92 while the price-to-book (PB) in the most recent quarter is 1.12.
Hut 8 Mining Corp.’s quick ratio for the recent period was 7.00, with the current ratio over the same period at 7.00. In terms of profitability, the gross margin trailing 12 months is -52.80%. The trailing 12-month EBITDA margin is 12.67%. The firm’s gross profit as reported stood at -$19.2 million against revenue of $115.91 million.
Earnings Surprise
Net income and sales went up compared to those figures reported in the previous quarter. EBITDA for the quarter stood at more than -$5.96 million. HUT stock balance sheet for the recent quarter shows that total liabilities totaled 64.25 million, with total debt at $64.1 million.
Let’s look briefly at Hut 8 Mining Corp. (HUT) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 21 August was 21.32% to suggest the stock is trending oversold, with historical volatility in this time period at 28.34%.
The stock’s 5-day moving average is $2.48, reflecting a -14.03% or -$0.39 change from its current price. HUT is currently trading -31.12% above its 20-day SMA, +48.45% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +21.94% and SMA200 by+9.63%.
Stochastic %K and %D was 8.41% and 6.17% and the average true range (ATR) pointed at 0.22. The RSI (14) points at 30.43%, while the 14-day stochastic is at 11.40% with the period’s ATR at 0.23. The stock’s 9-day MACD Oscillator is pointing at -0.29 and -0.47 on the 14-day charts.
Analyst Ratings
Analysts offering their rating for HUT stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate HUT as a “sell,”, while 2 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 1 have offered a “buy” rating.
What is HUT’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $2.60 and a high of $2.75, with their median price target at $2.75. Looking at these predictions, the average price target given by analysts is for Hut 8 Mining Corp. (HUT) stock is $2.70.
