Hut 8 Mining Corp (NASDAQ: HUT) stock jumped 2.15% on Friday to $1.90 against a previous-day closing price of $1.86. With 5.71 million shares changed hands, the volume of the stock remained lighter than its average volume of 9.2 million shares. During the session, the Capital Markets company that operates in wider Financial sector, reached to the highest price of $1.9200 whereas the lowest price it dropped to was $1.8500. The 52-week range on HUT shows that it touched its highest point at $4.55 and its lowest point at $0.78 during that stretch. It currently has a 1-year price target of $2.58. Beta for the stock currently stands at 3.01.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of HUT was down-trending over the past week, with a drop of -12.44%, but this was up by 6.15% over a month. Three-month performance dropped to -20.50% while six-month performance fell -0.52%. The stock gained 45.04% in the past year, while it has gained 123.53% so far this year. A look at the trailing 12-month EPS for HUT yields -0.55 with Next year EPS estimates of -0.19. For the next quarter, that number is -0.04. This implies an EPS growth rate of 111.14% for this year and -277.91% for next year.
Float and Shares Shorts:
At present, 220.55 million HUT shares are outstanding with a float of 220.54 million shares on hand for trading. On Oct 30, 2023, short shares totaled 26.04 million, which was 11.75% higher than short shares on Sep 28, 2023. In addition to Ms. Jaime Leverton as the firm’s CEO & Director, Ms. Suzanne Ennis serves as its Vice President of Corporate Development.
Institutional Ownership:
Through their ownership of 10.61% of HUT’s outstanding shares, institutional investors have minority control over the company. With a 3.17% stake in HUT, the SPDR S&P Kensho New Economies Com is the largest stakeholder. A total of 7,025,990 shares are owned by the mutual fund manager. The Amplify Transformational Data Sha, which owns about 2.60% of HUT stock, is the second-largest Mutual Fund holder. It holds 5,754,296 shares valued at 12.49 million. Global X Blockchain ETF holds 1.56% of the stake in HUT, owning 3,457,871 shares worth 7.5 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for HUT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With HUT analysts setting a high price target of $3.50 and a low target of $2.00, the average target price over the next 12 months is $2.58. Based on these targets, HUT could surge 84.21% to reach the target high and rise by 5.26% to reach the target low. Reaching the average price target will result in a growth of 35.79% from current levels.
Summary of Insider Activity:
Insiders traded HUT stock several times over the past three months with 1 Buys and 0 Sells. In these transactions, 13,752 shares were bought while 0 shares were sold. The number of buy transactions has increased to 15 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 877,874 while 0 shares were sold.
