Value Hunters: Look To Hut 8 Corp (HUT)

Currently, there are 88.96M common shares owned by the public and among those 88.65M shares have been available to trade.

The company’s stock has a 5-day price change of 24.32% and -39.09% over the past three months. HUT shares are trading -17.24% year to date (YTD), with the 12-month market performance up to 37.14% higher. It has a 12-month low price of $6.18 and touched a high of $22.75 over the same period. HUT has an average intraday trading volume of 5.96 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 33.66%, 35.30%, and -2.93% respectively.

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Institutional ownership of Hut 8 Corp (NASDAQ: HUT) shares accounts for 9.61% of the company’s 88.96M shares outstanding.

It has a market capitalization of $982.12M and a beta (3y monthly) value of 3.05. 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 10.55% over the week and 10.39% over the month.

Analysts forecast that Hut 8 Corp (HUT) will achieve an EPS of -$0.25 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 -$0.35 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 decrease by -910.00%, and 135.64% over the next financial year.

Looking at the support for the HUT, a number of firms have released research notes about the stock. Needham stated their Buy rating for the stock in a research note on March 18, 2024, with the firm’s price target at $12. H.C. Wainwright coverage for the Hut 8 Corp (HUT) stock in a research note released on February 06, 2024 offered a Sell rating with a price target of $5.50. H.C. Wainwright was of a view on December 09, 2022 that the stock is Neutral, while Craig Hallum gave the stock Hold rating on November 11, 2022, issuing a price target of $5- $2. DA Davidson on their part issued Neutral rating on August 17, 2022.

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