Hut 8 Mining Corp (NASDAQ:HUT) finished Thursday with an addition of $0.07 to close at $1.99, an upside of 3.65 percent. An average of 7,266,040 shares of common stock have been traded in the last five days. There was a gain of $0.0100 in the past week, and it reached a new high 21 times over the past 12 months. The last 20 days have seen an average of 8,189,950 shares traded, while the 50-day average volume stands at 8,798,114.
HUT stock has decreased by -25.19% in the last month. The company shares reached their 1-month lowest point of $1.8418 on 09/26/23. With the stock rallying to its 52-week high on 07/14/23, shares of the company touched a low of $0.78 and a high of $4.55 in 52 weeks. It has reached a new high 27 times so far this year and achieved 134.12% or $1.1400 in price. In spite of this, the price is down -56.26% from the 52-week high.
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Valuation Metrics
Hut 8 Mining Corp (HUT) stock’s beta is 3.10. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 6.42, the price-to-book (PB) ratio at 1.24.
Financial Health
The quick ratio of Hut 8 Mining Corp for the recent quarter was 6.96, and the current ratio was 6.96, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.06 and a total debt to equity ratio of 0.14 for the recent quarter. Its gross profit as reported stood at -$19.2 million compared to revenue of $115.91 million.
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 28 September was 40.92%, suggesting the stock is Neutral, with historical volatility in this time frame at 49.75%.
As of today, HUT’s price is $1.9160 +0.51% or $0.0100 from its 5-day moving average. HUT is currently trading -24.62% lower than its 20-day SMA and +5.85% higher than its 100-day SMA. However, the stock’s current price level is -47.91% below the SMA50 and +99.00% above the SMA200.
The stochastic %K and %D were 15.39% and 10.16%, respectively, and the average true range (ATR) was 0.1438. With the 14-day stochastic at 29.16% and the average true range at 0.1582, the RSI (14) stands at 38.03%. The stock has reached -0.0578 on the 9-day MACD Oscillator while the 14-day reading was at -0.1114.
