In the last trading session, 1.94 million Hut 8 Corp (NASDAQ:HUT) shares changed hands as the company’s beta touched 3.04. With the company’s per share price at $8.72 changed hands at -$0.16 or -1.80% during last session, the market valuation stood at $775.73M. HUT’s last price was a discount, traded about -160.89% off its 52-week high of $22.75. The share price had its 52-week low at $6.18, which suggests the last value was 29.13% up since then. When we look at Hut 8 Corp’s average trading volume, we note the 10-day average is 4.19 million shares, with the 3-month average coming to 6.39 million.
Hut 8 Corp (NASDAQ:HUT) trade information
Instantly HUT was in red as seen at the end of in last trading. With action 15.65%, the performance over the past five days has been green. The drop to weekly highs of 9.41 subtracted -1.80% to the stock’s daily price. The company’s shares are showing year-to-date downside of -34.63%, with the 5-day performance at 15.65% in the green. However, in the 30-day time frame, Hut 8 Corp (NASDAQ:HUT) is 5.44% up. Looking at the short shares, we see there were 8.87 million shares sold at short interest cover period of 1.63 days.
Hut 8 Corp (HUT) estimates and forecasts
Data shows that the Hut 8 Corp share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -11.92% over the past 6 months, a 97.37% in annual growth rate that is considerably higher than the industry average of 11.10%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Hut 8 Corp will rise 94.40%, while the growth in revenue is estimated to hit -114.90% for the next quarter. Year-over-year growth is forecast to reach -39.60% down from the last financial year.
Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of $23.66 million. 2 analysts are of the opinion that Hut 8 Corp’s revenue for the quarter ending Mar 2024 will be $25.62 million. The company’s revenue for the corresponding quarters a year ago was $21.83 million and $21.2 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 8.40%. The estimates for the next quarter sales put growth at 20.80%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 9.00%. The 2024 estimates are for Hut 8 Corp earnings to increase by 104.18%.
HUT Dividends
Hut 8 Corp is expected to release its next quarterly earnings report between March 07 and March 11.
Hut 8 Corp (NASDAQ:HUT)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 57.38% of Hut 8 Corp shares while 10.65% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 24.98%. There are 10.65% institutions holding the Hut 8 Corp stock share, with State Street Corporation the top institutional holder. As of Dec 30, 2023, the company held 0.92% of the shares, roughly 0.82 million HUT shares worth $7.16 million.
Susquehanna International Group, LLP holds the second largest percentage of outstanding shares, with 0.89% or 0.79 million shares worth $6.89 million as of Dec 30, 2023.
Among Mutual Funds, the top two as of Oct 30, 2023 were Amplify Transformational Data Sharing ETF and SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF. With 1.15 million shares estimated at $10.04 million under it, the former controlled 1.29% of total outstanding shares. On the other hand, SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF held about 0.93% of the shares, roughly 0.83 million shares worth around $7.2 million.
