Carne Global Fund Managers recently announced the acquisition of new stake in Hut 8 Corp (NASDAQ:HUT). The institutional investor has increased its shareholding in the Financial company by 2.43% to 379.0 shares with purchase of 9.0 shares. This fresh investment now brings its stake to 0.00% valued currently at $0.0. In addition, Vident Investment Advisory LLC raised its holdings by 55183.0 to 55696.0 shares.
With over 9.94 million Hut 8 Corp (HUT) shares trading Monday and a closing price of $12.00 on the day, the dollar volume was approximately $119.3 million. The shares have shown a negative half year performance of -39.09% and its price on 01/08/24 gained nearly 0.84%. Currently, there are 88.96M common shares owned by the public and among those 68.82M shares have been available to trade.
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The top 3 mutual fund holders in Hut 8 Corp are iShares S&P/TSX Capped Informatio, SPDR Portfolio Developed World ex, and SPDR S&P International Small Cap. iShares S&P/TSX Capped Informatio owns 0.17 million shares of the company’s stock, all valued at over $0.0. SPDR S&P International Small Cap now owns shares totaling to 0.00% of the shares outstanding.
Shares of Hut 8 Corp (NASDAQ: HUT) opened at $12.29, up $0.39 from a prior closing price of $11.90. The company’s stock has a 5-day price change of -10.04% and 18.23% over the past three months. HUT shares are trading -10.04% year to date (YTD), with the 12-month market performance up to 165.19% higher. It has a 12-month low price of $4.35 and touched a high of $22.75 over the same period. HUT has an average intraday trading volume of 4.63 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 -1.21%, 7.52%, and 3.37% respectively.
Institutional ownership of Hut 8 Corp (NASDAQ: HUT) shares accounts for 7.47% of the company’s 88.96M shares outstanding. Mutual fund holders own 0.00%, while other institutional holders and individual stakeholders account for 0.00% and — respectively.
It has a market capitalization of $1.07B and a beta (3y monthly) value of 3.04. The earnings-per-share (ttm) stands at -$2.75. Price movements for the stock have been influenced by the stock’s volatility, which stands at 12.49% over the week and 13.35% over the month.
Analysts forecast that Hut 8 Corp (HUT) will achieve an EPS of -$0.3 for the current quarter, -$0.35 for the next quarter and -$1.27 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.4 while analysts give the company a high EPS estimate of -$0.15. Comparatively, EPS for the current quarter was -$4.5 a year ago. Earnings per share for the fiscal year are expected to increase by 108.19%, and -246.61% 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 Corp (HUT) as a “Strong Buy” at a consensus score of 1.67. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 1 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.
