An Analysis Of Hut 8 Mining Corp. (HUT) Stock
Posted On July 19, 2022
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Hut 8 Mining Corp. (NASDAQ:HUT) has a beta value of 2.81 and has seen 30.73 million shares traded in the last trading session. The company, currently valued at $396.52M, closed the last trade at $1.75 per share which meant it gained $0.17 on the day or 10.76% during that session. The HUT stock price is -846.86% off its 52-week high price of $16.57 and 27.43% above the 52-week low of $1.27. If we look at the company’s 10-day average daily trading volume, we find that it stood at 14.53 million shares traded. The 3-month trading volume is 9.92 million shares.
Sporting 10.76% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Monday, 07/18/22 when the HUT stock price touched $1.75 or saw a rise of 12.94%. Year-to-date, Hut 8 Mining Corp. shares have moved -77.71%, while the 5-day performance has seen it change 16.67%. Over the past 30 days, the shares of Hut 8 Mining Corp. (NASDAQ:HUT) have changed 4.17%. Short interest in the company has seen 13.4 million shares shorted with days to cover at 2.22.
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Wall Street analysts have a consensus price target for the stock at $5.11, which means that the shares’ value could jump 65.75% from current levels. The projected low price target is $3.89 while the price target rests at a high of $7.02. In that case, then, we find that the current price level is -301.14% off the targeted high while a plunge would see the stock gain -122.29% from current levels.
Hut 8 Mining Corp. (HUT) estimates and forecasts
Figures show that Hut 8 Mining Corp. shares have outperformed across the wider relevant industry. The company’s shares have lost -72.91% over the past 6 months, with this year growth rate of 1,166.67%, compared to 11.90% for the industry.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 21.90% over the past 5 years.
Hut 8 Mining Corp. is expected to release its next earnings report between March 23 and March 28 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Hut 8 Mining Corp. (NASDAQ:HUT)’s Major holders
Insiders own 1.92% of the company shares, while shares held by institutions stand at 21.91% with a share float percentage of 22.34%. Investors are also buoyed by the number of investors in a company, with Hut 8 Mining Corp. having a total of 175 institutions that hold shares in the company. The top two institutional holders are FMR, LLC with over 7.64 million shares worth more than $59.96 million. As of Dec 30, 2021, FMR, LLC held 4.38% of shares outstanding.
The other major institutional holder is Invesco Ltd., with the holding of over 2.62 million shares as of Dec 30, 2021. The firm’s total holdings are worth over $20.56 million and represent 1.50% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Amplify Transformational Data Sharing ETF and Global X Fds-Global X Blockchain ETF. As of Jan 30, 2022, the former fund manager holds about 3.07% shares in the company for having 5.37 million shares of worth $31.88 million while later fund manager owns 1.16 million shares of worth $7.08 million as of Feb 27, 2022, which makes it owner of about 0.66% of company’s outstanding stock.