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Hut 8 Mining Corp. (NASDAQ: HUT)’s Stock Performance and Outlook

In the latest trading session, 3.36 million Hut 8 Mining Corp. (NASDAQ:HUT) shares changed hands as the company’s beta touched 3.08. With the company’s most recent per share price at $2.22 changing hands around $0.12 or 5.75% at last look, the market valuation stands at $689.29M. HUT’s current price is a discount, trading about -104.95% off its 52-week high of $4.55. The share price had its 52-week low at $0.78, which suggests the last value was 64.86% up since then. When we look at Hut 8 Mining Corp.’s average trading volume, we note the 10-day average is 8.33 million shares, with the 3-month average coming to 12.53 million.

Hut 8 Mining Corp. (NASDAQ:HUT) trade information

Instantly HUT is in green as seen in intraday trades today. With action 3.78%, the performance over the past five days has been green. The jump to weekly highs of 2.35 on Friday, 09/15/23 added 5.75% to the stock’s daily price. The company’s shares are showing year-to-date upside of 161.27%, with the 5-day performance at 3.78% in the green. However, in the 30-day time frame, Hut 8 Mining Corp. (NASDAQ:HUT) is -8.23% down. Looking at the short shares, we see there were 14.16 million shares sold at short interest cover period of 1.59 days.

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Hut 8 Mining Corp. (HUT) estimates and forecasts

Data shows that the Hut 8 Mining Corp. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 18.13% over the past 6 months, a 0.00% in annual growth rate that is considerably lower than the industry average of 17.90%.

The 2023 estimates are for Hut 8 Mining Corp. earnings to decrease by -138.60%.

HUT Dividends

Hut 8 Mining Corp. is expected to release its next quarterly earnings report between November 08 and November 13.

Hut 8 Mining Corp. (NASDAQ:HUT)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.75% of Hut 8 Mining Corp. shares while 10.61% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 10.69%. There are 10.61% institutions holding the Hut 8 Mining Corp. stock share, with State Street Corporation the top institutional holder. As of Jun 29, 2023, the company held 3.09% of the shares, roughly 6.86 million HUT shares worth $15.05 million.

Mirae Asset Global Investments Co., Ltd. holds the second largest percentage of outstanding shares, with 1.57% or 3.47 million shares worth $7.62 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jul 30, 2023 were SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF and Amplify Transformational Data Sharing ETF. With 6.88 million shares estimated at $15.09 million under it, the former controlled 3.10% of total outstanding shares. On the other hand, Amplify Transformational Data Sharing ETF held about 2.90% of the shares, roughly 6.42 million shares worth around $14.09 million.

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