In the latest trading session, 1.56 million Hut 8 Corp (NASDAQ:HUT) shares changed hands as the company’s beta touched 3.64. With the company’s most recent per share price at $22.31 changed hands at -$1.09 or -4.66% at last look, the market valuation stands at $2.09B. HUT’s current price is a discount, trading about -43.21% off its 52-week high of $31.95. The share price had its 52-week low at $6.18, which suggests the last value was 72.3% up since then. When we look at Hut 8 Corp’s average trading volume, we note the 10-day average is 4.95 million shares, with the 3-month average coming to 7.16 million.
Analysts gave the Hut 8 Corp (HUT) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.00. If we narrow down to specifics, the data shows that 1 out of 12 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 2 recommended HUT as a Hold, 9 felt it is a Buy and 0 rated the stock as Underweight. Hut 8 Corp’s EPS for the current quarter is expected to be -0.1.
Hut 8 Corp (NASDAQ:HUT) trade information
Instantly HUT was in red as seen in intraday trades today. With action -7.66%, the performance over the past five days has been red. The company’s shares are showing year-to-date upside of 8.88%, with the 5-day performance at -7.66% in the red. However, in the 30-day time frame, Hut 8 Corp (NASDAQ:HUT) is -12.92% down. Looking at the short shares, we see there were 7.98 million shares sold at short interest cover period of 0.91 days.
The consensus price target for the stock as assigned by Wall Street analysts is 15.25, meaning bulls need a downside of -46.3% from its recent market value. According to analyst projections, HUT’s forecast low is 8 with 32 as the target high. To hit the forecast high, the stock’s price needs a -43.43% plunge from its current level, while the stock would need to tank 64.14% for it to hit the projected low.
Hut 8 Corp (HUT) estimates and forecasts
Consensus estimates given by 9 financial analysts project the company’s revenue in the current quarter to hit an average of 38.37M. 8 analysts are of the opinion that Hut 8 Corp’s revenue for the current quarter will be 47.6M. The estimates for the next quarter sales put growth at -8.01%.
The 2025 estimates are for Hut 8 Corp earnings to increase by 141.42%.
HUT Dividends
Hut 8 Corp is expected to release its next quarterly earnings report in February.
Hut 8 Corp (NASDAQ:HUT)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 55.15% of Hut 8 Corp shares while 57.71% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 128.67%. There are 57.71% institutions holding the Hut 8 Corp stock share, with YOUR ADVOCATES LTD., LLP the top institutional holder. As of 2024-06-30, the company held 0.0023% of the shares, roughly 2000.0 HUT shares worth $29980.0.
HUNTINGTON NATIONAL BANK holds the second largest percentage of outstanding shares.
Among Mutual Funds, the top two as of Sep 30, 2024 were Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. With 2.54 shares estimated at $56.49 million under it, the former controlled 2.72% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 2.22% of the shares, roughly 2.08 shares worth around $46.22 million.
