With over 8.55 million Hut 8 Mining Corp (HUT) shares trading Friday and a closing price of $1.93 on the day, the dollar volume was approximately $16.51 million. Currently, there are 221.73M common shares owned by the public and among those 220.65M 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 $2.58. The analysts have set the share’s price value over the next 12 months at a high of $3.50 and a low of $2.00. The average price target is 25.19% above its recent price level and an upside to the estimated low will see the stock gain 3.5% over that period. But an upside of 44.86% will see the stock hit the forecast high price target while median target price for the stock is $2.25.
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Insiders at the company have transacted a total of 15 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 15 of these insider trades were purchases, accounting for 877,874 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
Shares of Hut 8 Mining Corp (NASDAQ: HUT) opened at $1.92, down -$0.01 from a prior closing price of $1.93. The company’s stock has a 5-day price change of 3.76% and -14.98% over the past three months. HUT shares are trading 127.06% year to date (YTD), with the 12-month market performance up to 67.10% 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 9.23 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 -8.79%, -4.73%, and -13.65% respectively.
Institutional ownership of Hut 8 Mining Corp (NASDAQ: HUT) shares accounts for 17.21% of the company’s 221.73M shares outstanding.
It has a market capitalization of $427.94M and a beta (3y monthly) value of 2.98. The earnings-per-share (ttm) stands at -$0.55. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.05% over the week and 8.31% over the month.
Earnings per share for the fiscal year are expected to increase by 111.14%, and -277.91% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate Hut 8 Mining Corp (HUT) as a “Moderate Buy” at a consensus score of 2.33. 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.
