During the recent session, Hut 8 Corp (NASDAQ:HUT)’s traded shares were 1.42 million, with the beta value of the company hitting 2.98. At the last check today, the stock’s price was $10.27, reflecting an intraday gain of 5.99% or $0.58. The 52-week high for the HUT share is $22.75, that puts it down -121.52 from that peak though still a striking 39.82% gain since the share price plummeted to a 52-week low of $6.18. The company’s market capitalization is $913.63M, and the average intraday trading volume over the past 10 days was 5.19 million shares, and the average trade volume was 5.57 million shares over the past three months.
Hut 8 Corp (NASDAQ:HUT) trade information
Hut 8 Corp (HUT) registered a 5.99% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 5.99% in intraday trading to $10.27, hitting a weekly high. The stock’s 5-day price performance is 4.16%, and it has moved by 36.57% in 30 days. Based on these gigs, the overall price performance for the year is 14.75%. The short interest in Hut 8 Corp (NASDAQ:HUT) is 9.56 million shares and it means that shorts have 1.9 day(s) to cover.
Hut 8 Corp (HUT) estimates and forecasts
Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 94.40% this quarter and then drop -114.90% in the quarter after that. In the rating firms’ projections, revenue will decrease -39.60% compared to the previous financial year.
Revenue for the current quarter is expected to be $23.66 million as predicted by 2 analyst(s). Meanwhile, a consensus of 2 analyst(s) estimates revenue growth to $25.62 million by the end of Mar 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $21.83 million and $21.2 million respectively. In this case, analysts expect current quarter sales to grow by 8.40% and then jump by 20.80% in the coming quarter.
HUT Dividends
Hut 8 Corp is due to release its next quarterly earnings between March 07 and March 11. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Hut 8 Corp (NASDAQ:HUT)’s Major holders
Hut 8 Corp insiders own 57.38% of total outstanding shares while institutional holders control 10.65%, with the float percentage being 24.99%. State Street Corporation is the largest shareholder of the company, while 162 institutions own stock in it. As of Jun 29, 2023, the company held over 6.86 million shares (or 3.09% of all shares), a total value of $22.63 million in shares.
The next largest institutional holding, with 3.47 million shares, is of Mirae Asset Global Investments Co., Ltd.’s that is approximately 1.57% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $11.46 million.
Also, the Mutual Funds coming in first place with the largest holdings of Hut 8 Corp (HUT) shares are SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF and Amplify Transformational Data Sharing ETF. Data provided on Aug 30, 2023 indicates that SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF owns about 6.91 million shares. This amounts to just over 3.12 percent of the company’s overall shares, with a $16.8 million market value. The same data shows that the other fund manager holds slightly less at 6.3 million, or about 2.84% of the stock, which is worth about $22.41 million.
