Hut 8 Corp (NASDAQ:HUT)’s traded shares stood at 16.22 million during the last session, with the company’s beta value hitting 3.05. At the close of trading, the stock’s price was $11.04, to imply an increase of 11.97% or $1.18 in intraday trading. The HUT share’s 52-week high remains $22.75, putting it -106.07% down since that peak but still an impressive 44.02% since price per share fell to its 52-week low of $6.18. The company has a valuation of $982.12M, with an average of 5.38 million shares in intraday trading volume over the past 10 days and average of 5.96 million shares over the past 3 months.
Hut 8 Corp (NASDAQ:HUT) trade information
After registering a 11.97% upside in the last session, Hut 8 Corp (HUT) has traded red over the past five days. The stock hit a weekly high of 12.15, jumping 11.97% in its intraday price action. The 5-day price performance for the stock is 24.32%, and 26.46% over 30 days. With these gigs, the year-to-date price performance is -17.24%. Short interest in Hut 8 Corp (NASDAQ:HUT) saw shorts transact 9.56 million shares and set a 1.9 days time to cover.
Hut 8 Corp (HUT) estimates and forecasts
Looking at statistics comparing Hut 8 Corp share performance against respective industry, we note that the company has outperformed competitors. Hut 8 Corp (HUT) shares are 15.00% up over the last 6 months, with its year-to-date growth rate higher than industry average at 97.37% against 11.70%. Revenue is forecast to grow 94.40% this quarter before falling -114.90% for the next one. The rating firms project that company’s revenue will shrink -39.60% compared to the previous financial year.
Revenue forecast for the current quarter as set by 2 analysts is $23.66 million. Meanwhile, for the quarter ending Mar 2024, a total of 2 analyst(s) estimate revenue growth to $25.62 million.Earnings reports from the last fiscal year show that sales brought in $21.83 million and $21.2 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 8.40% before jumping 20.80% in the following quarter.
HUT Dividends
Hut 8 Corp has its next earnings report out between March 07 and March 11. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Hut 8 Corp has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.
Hut 8 Corp (NASDAQ:HUT)’s Major holders
Hut 8 Corp insiders hold 57.38% of total outstanding shares, with institutional holders owning 10.65% of the shares at 24.99% float percentage. In total, 10.65% institutions holds shares in the company, led by State Street Corporation. As of Jun 29, 2023, the company held over 6.86 million shares (or 3.09% of shares), all amounting to roughly $22.63 million.
The next major institution holding the largest number of shares is Mirae Asset Global Investments Co., Ltd. with 3.47 million shares, or about 1.57% of shares outstanding. As of the market price on Jun 29, 2023, these shares were worth $11.46 million.
We also have SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF and Amplify Transformational Data Sharing ETF as the top two Mutual Funds with the largest holdings of the Hut 8 Corp (HUT) shares. Going by data provided on Aug 30, 2023, SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF holds roughly 6.91 million shares. This is just over 3.12% of the total shares, with a market valuation of $16.8 million. Data from the same date shows that the other fund manager holds a little less at 6.3 million, or 2.84% of the shares, all valued at about 22.41 million.
