During the last session, Hut 8 Mining Corp. (NASDAQ:HUT)’s traded shares were 11.08 million, with the beta value of the company hitting 2.91. At the end of the trading day, the stock’s price was $2.40, reflecting an intraday gain of 10.60% or $0.23. The 52-week high for the HUT share is $16.57, that puts it down -590.42 from that peak though still a striking 47.08% gain since the share price plummeted to a 52-week low of $1.27. The company’s market capitalization is $553.92M, and the average intraday trading volume over the past 10 days was 16.92 million shares, and the average trade volume was 12.21 million shares over the past three months.
Hut 8 Mining Corp. (NASDAQ:HUT) trade information
Hut 8 Mining Corp. (HUT) registered a 10.60% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 10.60% in intraday trading to $2.40 this Wednesday, 08/03/22, hitting a weekly high. The stock’s 5-day price performance is 19.40%, and it has moved by 61.07% in 30 days. Based on these gigs, the overall price performance for the year is -50.31%. The short interest in Hut 8 Mining Corp. (NASDAQ:HUT) is 12.36 million shares and it means that shorts have 1.06 day(s) to cover.
The consensus price target of analysts on Wall Street is $4.66, which implies an increase of 48.5% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $3.89 and $5.00 respectively. As a result, HUT is trading at a discount of -108.33% off the target high and -62.08% off the low.
Hut 8 Mining Corp. (HUT) estimates and forecasts
Statistics show that Hut 8 Mining Corp. has outperformed its competitors in share price, compared to the industry in which it operates. Hut 8 Mining Corp. (HUT) shares have gone down -62.96% during the last six months, with a year-to-date growth rate more than the industry average at 1,166.67% against 12.60.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 21.90%. While earnings are projected to return -368.30% in 2022.
Hut 8 Mining Corp. is due to release its next quarterly earnings between March 23 and March 28. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Hut 8 Mining Corp. (NASDAQ:HUT)’s Major holders
Hut 8 Mining Corp. insiders own 6.84% of total outstanding shares while institutional holders control 19.99%, with the float percentage being 21.46%. FMR, LLC is the largest shareholder of the company, while 179 institutions own stock in it. As of Mar 30, 2022, the company held over 8.34 million shares (or 4.34% of all shares), a total value of $46.06 million in shares.
The next largest institutional holding, with 2.17 million shares, is of Mirae Asset Global Investments Co., Ltd.’s that is approximately 1.13% of outstanding shares. At the market price on Jun 29, 2022, these shares were valued at $2.88 million.
Also, the Mutual Funds coming in first place with the largest holdings of Hut 8 Mining Corp. (HUT) shares are Amplify Transformational Data Sharing ETF and Global X Fds-Global X Blockchain ETF. Data provided on Apr 29, 2022 indicates that Amplify Transformational Data Sharing ETF owns about 5.16 million shares. This amounts to just over 2.69 percent of the company’s overall shares, with a $18.37 million market value. The same data shows that the other fund manager holds slightly less at 1.23 million, or about 0.64% of the stock, which is worth about $1.63 million.