With over 8.62 million Hut 8 Mining Corp. (HUT) shares trading Monday and a closing price of $2.15 on the day, the dollar volume was approximately $18.53 million. The shares have shown a positive half year performance of 14.36% and its price on 09/18/23 gained nearly 2.38%. Currently, there are 221.28M common shares owned by the public and among those 220.03M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for HUT have a consensus price objective of $2.70. The analysts have set the share’s price value over the next 12 months at a high of $2.75 and a low of $2.60. But an upside of 21.82% will see the stock hit the forecast high price target while median target price for the stock is $2.75.
Top 5 EV Tech Stocks to Buy for 2023
The electric vehicle boom is accelerating – and fast. According a new report published by BloombergNEF, annual spending on passenger EVs hit $388 billion in 2022, up 53% from the year before. Like we said, the boom is accelerating – and the time to buy EV-related tech stocks is now. Get our free report, "Top 5 EV Tech Stocks to Buy for 2023".
Click Here to Download the FREE Report.
Sponsored
Insiders at the company have transacted a total of 14 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 14 of these insider trades were purchases, accounting for 864,122 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Hut 8 Mining Corp. are SPDR S&P Kensho New Economies Com, Amplify Transformational Data Sha, and Global X Blockchain ETF. SPDR S&P Kensho New Economies Com owns 6.91 million shares of the company’s stock, all valued at over $16.8 million. Global X Blockchain ETF now owns shares totaling to 1.27% of the shares outstanding.
Shares of Hut 8 Mining Corp. (NASDAQ: HUT) opened at $2.20, up $0.1 from a prior closing price of $2.10. However, the script later moved the day high at 2.2700, up 2.38%. The company’s stock has a 5-day price change of 0.47% and -6.52% over the past three months. HUT shares are trading 152.94% year to date (YTD), with the 12-month market performance up to 1.42% higher. It has a 12-month low price of $0.78 and touched a high of $4.55 over the same period. HUT has an average intraday trading volume of 12.53 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -6.97%, -27.57%, and 3.75% respectively.
Institutional ownership of Hut 8 Mining Corp. (NASDAQ: HUT) shares accounts for 10.61% of the company’s 221.28M shares outstanding. Mutual fund holders own –, while other institutional holders and individual stakeholders account for — and — respectively.
It has a market capitalization of $667.32M and a beta (3y monthly) value of 3.08. The earnings-per-share (ttm) stands at -$0.62. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.12% over the week and 7.60% over the month.
Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 2 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the HUT, a number of firms have released research notes about the stock. H.C. Wainwright stated their Neutral rating for the stock in a research note on December 09, 2022, with the firm’s price target at $1.50.
